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BITCOIN RUSH - A new all time high price ! Is the world starting to embrace BTC ?

Discussion in 'CryptoCurrency' started by virtualpurity, Feb 24, 2017.

  1. virtualpurity

    virtualpurity Jr. VIP Jr. VIP

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    As anyone who keeps track with and is familiar with btc knows that price of btc has reached a new all time high since it has been created.

    Has the world started accepting BTC and crypto in general as a new future ?

    More and more companies are joined and started accepting cryptocurrency`s, some companies even started their own crypto coins with embracing the idea that cryptocurrency is the new financial future.

    You can find BTC ATM`s more and more all across the world, and it seems that the idea of a decentralized financial system is spreading like wildfire since more and more people are starting to invest in the cryptocurrency scene. That makes the buy orders though the roof and the prices sky high, and it seems that we are just scratching the tip of the iceberg.

    Mining farms are opened all over the world with an average mining estimate of 20-25 BTC for a medium mining farm per day which in today`s btc price that would be aprox 23.740$-29.657$ / per day which averages at 800-900K / per month.

    If this expansion rate continues i assume than it wont be long until we start seeing crypto implemented in our everyday lives.

    What do you think ? Is cryptocurrency a new world future ?
     
  2. al.ayyubi

    al.ayyubi Newbie

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    Oh no, do not to try invest on cloud mining, you can make your own mining by buying a hardware..
     
  3. virtualpurity

    virtualpurity Jr. VIP Jr. VIP

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    Wasent saying to start building mining farms :) But on the other hand it seems quite profitable ..
     
  4. everythingred

    everythingred Jr. VIP Jr. VIP Premium Member

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  5. kyoka12

    kyoka12 Junior Member

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    I just think that this is Trump Effect..
     
  6. Botwiz

    Botwiz Executive VIP Jr. VIP

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    BTC is still in its infant stages especially looking at the market cap and global turmoil we are (in)/headed into.
    Seeing 5x+ the current market would not be surprising. Link: https://blockchain.info/charts/market-cap?timespan=all
    $1500 - $1600 this year and who knows 2k+ next year. (Conservatively speaking) If the bulls continue to drive this like they have been its all feasible imo.
    Just make sure your practicing good money management and BTC should pan out for anyone willing to get on the roller coaster.
     
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  7. BloodyNinja

    BloodyNinja Power Member

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    It's only indirectly related to the speed of the adoption process.

    The real reason is all major currencies are becoming cheaper. Fed, ECB and JCB are all printing money at an insane pace. This devalues euro, dollar, and yen. The only reason we don't notice this process is because international exchange rates stay the same. To preserve the value of money, investors put it either in stock or commodities. To verify this, look at the Dow Jones chart as well as charts for all major commodities.

    For investors, bitcoin is no more than just an exotic commodity.

    Why do central banks print money? They remove toxic assets from the market and put them on their own balances. Why there are so many toxic assets? Because companies cannot pay their bills. To pay their bills, they need expanding markets but markets are not expanding anymore. The world debt pyramid has reached its own growth limit.

    Since the industrial revolution, many countries had experienced so-called "overproduction crises". Think for a minute, what is an overproduction crisis? Does it mean that everyone on the planet has got everything they need and don't want to buy anything else? Nope. The name 'overproduction crisis' is misleading. In reality, it is the crisis of insufficient purchasing power. Productions make more goods and services than people can afford to buy.

    What happens with commodities when an overproduction crisis strikes? Their prices fall down as no one can buy them. This is likely to happen with all commodities and I am pretty sure with bitcoin as well. If you had to choose between paying bills and having some money 'invested in bitcoin', what would you choose?

    Bitcoin is a classic pyramid. They only way to win is to jump out at the right moment. If you think it will reach $5000 and stay there for years, good fucking luck because you will need it.
     
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  8. jimbobo2779

    jimbobo2779 Jr. VIP Jr. VIP

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    The public are absolutely not embracing btc anytime soon. It is easy to forget that the overwhelmingly huge majority of the public have absolutely no idea wtf a bitcoin even is let alone knows how to buy / sell / spend them.

    If the public were to embrace btc then the price would be many times what it is right now, as it stands it is an incredibly small niche that people use to bet on in the hopes it one day becomes mainstream.

    I would say that there are far too many people that will never embrace it in their lifetime as it is not close to being ubiquitous enough. The infrastructure is not close to being sufficient for even 1% of people to use it regularly and is not going to be for many years to come.

    I hope it does get there but we are way off yet. It will probably be something that will take a generation or more before it begins to get embraced on a much larger scale.
     
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  9. Reaver

    Reaver Jr. VIP Jr. VIP

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    While BTC is fascinating, I wouldn't call it the wave of the future. There is no way the banking system isn't going to find some way to take control of it. The more people that embrace it, the more of a threat it becomes.

    Having a decentralized worldwide currency is like having a panther in a room full of goats. Only one of those animals is going to win that fight, and it's not going to be the goats.
     
  10. Market Madness

    Market Madness Registered Member

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    Thank you intellectuals for putting perspective on the whole bitcoin thing. Makes me rethink getting a harddrive miner.
     
  11. h2obrandon

    h2obrandon Junior Member

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    Will say i regret selling everything last year tho
     
  12. mj10pop

    mj10pop Registered Member

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    Just buy bitcoin forget mining it will take lot of time and resources. Bitcoin holds great potential and will remain on top until any country start there ecoin then it will be a very different game.
     
  13. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    And just in free fall :(
     
  14. virtualpurity

    virtualpurity Jr. VIP Jr. VIP

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    You were saying ? :)

    [​IMG]

    According to Preev average price :

    [​IMG]

    I think we wont have to wait until next year for that 2K mark..
     
  15. virtualpurity

    virtualpurity Jr. VIP Jr. VIP

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    Just imagine how does the BTC Pizza Guy feels now :)
     
  16. Botwiz

    Botwiz Executive VIP Jr. VIP

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  17. MrBusiness

    MrBusiness Newbie

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    The bigger they are, the harder they fall, keep an amount of money ready to invest and keep watching, real money gonna be made when this bubble gonna fuck up.
     
  18. Davidzh88

    Davidzh88 Newbie

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    BTC is really strange to me, why so many people buy BTC? It's said to use BTC to transfer money.
     
  19. virtualpurity

    virtualpurity Jr. VIP Jr. VIP

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  20. AceWallGromit

    AceWallGromit Regular Member

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    After a catastrophic EMP that destroyed the grid the richest man alive is not the one holding Bitcoins but the one holding a chicken.