Bitcoin At An All Time High Again - Breaks $1,700 for the first time - Sensationalist Headlines

[QUOTE=Surplus;52216040]I did buy bitcoins when they were about 200 a pop. I made the mistake of using a bad (?) marketplace and I cannot use my bitcoins because I cannot verify my address since I live with my parents. They were willing to take my money before verifying my address though and they have even sent me a fucking postcard to my address for some fucking reason. Every time I read one of these articles, I go check on the wallet, see that the price of my wallet has risen. God damn I wish I had had more money to invest in bitcoin though. Could have been a much richer man once I get this address verified a few years in the future.[/QUOTE] What exchange did you use? Flagdog sez you're Estonian too. I recommend Kraken. Relatively quick and simple deposit process with low fees.

[QUOTE=kevinspacey;52217614]Its a bubble about to burst any month now. Ethereum looks like the one that will actually have some legs.[/QUOTE] Bitcoin is not going to burst any time soon, the demand for it is rising.. Japan legal tender which means you can pay workers with it etc.. other countries might follow.

im not disagreeing with the bubble bursting but the value of btc seems purely speculative and the only value it has is for black market purchases, take your example why would you pay someone in btc when you could use another currency and would would you accept btc? maybe if everything above your living wage was paid in btc i could see it being a sensible option

[QUOTE=waylander;52218257]im not disagreeing with the bubble bursting but the value of btc seems purely speculative and the only value it has is for black market purchases, take your example why would you pay someone in btc when you could use another currency and would would you accept btc? maybe if everything above your living wage was paid in btc i could see it being a sensible option[/QUOTE] Some legit points: - BTC was designed to be deflationary currency (gaines value over time), where as your € or $ is inflationary (loses value over time) - No third party service (no paypal, no banks, nothing..) - No chargebacks (..though this increases scams) And btw, I can buy PC with BTC right now if I wish, and I can buy drugs with € right now if I wish..

[QUOTE=waylander;52218257]im not disagreeing with the bubble bursting but the value of btc seems purely speculative and the only value it has is for black market purchases, take your example why would you pay someone in btc when you could use another currency and would would you accept btc? maybe if everything above your living wage was paid in btc i could see it being a sensible option[/QUOTE] "black market purchases" are all that's needed for the continued viability of bitcoin. and it would be hard to effectively enforce any type of legislation against it due to the systems nature. edit: I think that it's healthy to have an alternative system to avoid the layers of documentation and monitoring you are forced to undergo when buying and selling stuff with regular currency, even if it mainly appeals to the demand for black market currency. People would still facilitate black market trading even if bitcoin or similar currencies weren't a thing in the same way it was done before bitcoin.

Bitcoins are not soo good for black market anymore, they are not anonymous (all transactions are public) and tracking technology already exists (which includes IP addresses etc..).

[QUOTE=Fourier;52218441]Bitcoins are not soo good for black market anymore, they are not anonymous (all transactions are public) and tracking technology already exists (which includes IP addresses etc..).[/QUOTE] It's easier to mask transaction identities and effectively launder bitcoin than it is with regular currency.

And to think that life could have given me 818667€ if only i'd have invested in bitcoins.:hammered:

So what the fuck actually makes bitcoin worth anything more than if I were to hand out monopoly money in the streets?

[QUOTE=Kylel999;52219097]So what the fuck actually makes bitcoin worth anything more than if I were to hand out monopoly money in the streets?[/QUOTE] The same thing that makes a paper US dollar worth anything more than the paper it's printed on.

[QUOTE=1/4 Life;52219103]The same thing that makes a paper US dollar worth anything more than the paper it's printed on.[/QUOTE] So bitcoin is backed by silver/gold? [editline]12th May 2017[/editline] Because originally couldn't you exchange paper money for actual equivalent worth in precious metal?

[QUOTE=Kylel999;52219107]So bitcoin is backed by silver/gold?[/QUOTE] The US dollar hasn't been backed by gold or silver since 1971.

So my question still hasn't been answered, then. You don't need to rate me dumb, I wouldn't be asking if I knew

[QUOTE=Kylel999;52219117]So my question still hasn't been answered, then. You don't need to rate me dumb, I wouldn't be asking if I knew[/QUOTE] Don't fret about ratings, simple slip one right from 'Late'. A currency's value is a product of speculation, mutual agreement of value, trust of issuer, and amount of that currency in circulation. Bitcoin has people speculating on it's value, has people who agree it holds value, has trust of issuer since the issuer is an algorithm everyone can see that has no ulterior motives, and has a known rate of inflation and a theoretical cap thanks to how they're mined.

That actually makes a lot of sense to me. Thanks, man. That also scares me that, when explained like that, that bitcoin seems to make MORE sense than paper currency

[QUOTE=Kylel999;52219165]That actually makes a lot of sense to me. Thanks, man. That also scares me that, when explained like that, that bitcoin seems to make MORE sense than paper currency[/QUOTE] Pretty amazing technology. Bitcoin has another plus in that all transaction details other than the amount of money transferred are inherently anonymous. It remains to be seen how this will affect the real world though. I'm sure it's many, many years off until we see a country adopt anything similar.

I use BTC mainly to shop (online and sometimes in store), its sometimes more convenient than using my credit card and definitely easier than having to load up my prepaid card. All I have to do is walk up to a BTC ATM, scan my wallet and insert the money. I only do this mainly when I see bitcoin is on the rise though. Bought some BTC when it was $1400 a pop ordered some stuff online and I only made the payment when it was $1700. Overall I managed to save $10 including transaction fees. Not a big save but college life is a frugal life.

just an update.. it's pushing $2500 now

[QUOTE=Asaratha;52207035]ur friends happiness is priceless :)[/QUOTE] the happiness from brink lasts up until you start a game, at which point all happiness becomes disappointment. [editline]25th May 2017[/editline] also I have 20BTC on a flash drive that's encrypted with a password that got destroyed by accident. The password was 40 characters, (a-z A-Z 1-9 + all symbols), so it's not getting decrypted until quantum becomes available to consumers- at which point cryptocurrency will be 100% worthless.

I got 0.3 of a bitcoin once from an Charlie work job for some now-defunct IGN-type company and I have it stored in a now-outdated wallet program. I have no idea how to use it or where and I should probably figure out soon but I don't know what websites to trust or not :v:

[t]http://horobox.co.uk/u/VWCxyz.png[/t] :smug:

[QUOTE=Anti Christ;52271749][t]http://horobox.co.uk/u/VWCxyz.png[/t] :smug:[/QUOTE] Think of all the coke u could buy

This is getting too insane. BTC price reached 3800$ in Korea.

When I made this thread I've been told to expect prices to reach $4000. I thought the chance of that actually happening was around 62% but I don't like making statements on something I'm not 100% confident it so I left it out of the OP. But holy shit at this rate it might actually just do that.

Nothing should be increasing in value this much. It's just going to correct itself due to how clearly volatile it is.

[QUOTE=DogGunn;52272565]Nothing should be increasing in value this much. It's just going to correct itself due to how clearly volatile it is.[/QUOTE] I will sell on Friday, it will correct itself through weekend.

[QUOTE=Anti Christ;52271749][t]http://horobox.co.uk/u/VWCxyz.png[/t] :smug:[/QUOTE] roughly 50K I'd get it out while this bubble is still around. I can't imagine it getting higher than $4000 ea.

[QUOTE=DogGunn;52272565]Nothing should be increasing in value this much. It's just going to correct itself due to how clearly volatile it is.[/QUOTE] I personally think it's the ransomware program. People are buying to unlock their computers.

[QUOTE=TheDestroyerOfall;52273395]I personally think it's the ransomware program. People are buying to unlock their computers.[/QUOTE] japan and south korea

uh oh [img]http://i.imgur.com/U0uIwEu.png[/img]