Some day soon bitcoin won’t rise by 20% in 24 hours, and there’ll be a panicked run on it
Quest talking about it on CNN right now.
There are teams of sweaty Indian fellas from the peaks of Jaintia to the swamps of Tamil Nadu trying to keep the show on the road… The pressure is tremendous, almost unbearable but the backbone INTERNET must not falter.
The ‘haves’ have earned their right to get rich in their sleep.
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Can you give me a quick dummies guide to moving my BTC from coinbase to bittrex?
Also, is there any transaction fee or potential to lose value?
Bitcoin bonanza takes hold of world markets
●Historic boom sees digital currency value soar
● ‘It will crash’: trading raises concern over bubble
James Dean, US Business Editor
December 8 2017, 12:01am, The Times
Robert Schiller, the Nobel prize-winning economist, said he was confident bitcoin would crash again despite one unit rising by as much as $6,900 yesterday
Robert Schiller, the Nobel prize-winning economist, said he was confident bitcoin would crash again despite one unit rising by as much as $6,900 yesterday
Bitcoins were being offered for almost $20,000 each yesterday as digital currency speculators created the biggest buying rush in history.
The value of one unit rose by as much as $6,900, or 52 per cent, on some exchanges during the day before settling back to $15,450 last night.
The rise in its value surpassed “tulip mania” in the 17th century, suggesting that bitcoin is on course to create the largest financial bubble ever. In the 1630s, the price of some bulbs soared to astronomical levels before crashing in 1637. The value of bitcoin has risen faster over the past three years than the price of tulip bulbs did in the three years before the crash, figures from the New York firm Convoy Investments show.
Concerns were raised on both sides of the Atlantic that the growth could not last. Sir Howard Davies, chairman of Royal Bank of Scotland and former chairman of the Financial Services Authority, said: “Put up the sign from Dante’s Inferno — ‘Abandon hope all ye who enter here’ — I think that’s probably what’s needed.” The cryptocurrency appeared to be a “frothy investment bubble” and “central banks are anxious about it”, he told Bloomberg.
Robert Shiller, the US Nobel prize-winning economist, told The Times: “It will crash, I’m pretty confident. It’s done that already and it’s going to do it again. But bitcoin is not totally crazy either. It’s a new technology and it’s a form of money. It has the same mystery of value as real money, and real money persists.”
A bitcoin is a unit of digital currency that exists as a string of computer code, with no physical form. Its price has risen by nearly 1,500 per cent since the start of the year. Last night the combined value of all bitcoins in circulation was £200 billion — about £5 billion more than the value of Royal Dutch Shell, the oil giant that is Britain’s largest company. Bitcoin was launched in 2008 by Satoshi Nakamoto, a secretive software developer whose true identity has never been uncovered. It was intended as a digital currency and can be used to pay for goods and services with some retailers. Financiers now see it more as a risky investment.
Watchdogs around the world are concerned that a bitcoin price crash will leave private investors out of pocket. However, the Bank of England and other central banks have said that they do not believe a crash poses a risk to the economy. The apparent theft yesterday of bitcoins worth £52 million from NiceHash, a digital currency marketplace, appeared to do little to affect the trajectory of the bitcoin price.
It is unclear what has caused bitcoin’s price to rise so quickly because transactions are anonymous. However, it is likely that investors, seeing the rising price, have decided to gamble on the currency. Several large financial companies are planning to move into the bitcoin market, giving legitimacy to digital currencies.
Jamie Dimon, chief executive of JP Morgan, America’s biggest bank, has said that bitcoin mania is “worse than tulip bulbs” and “won’t end well”.
It took nearly five years for the price of one bitcoin to reach $1,000 after its launch. Yesterday it climbed from $16,000 to $17,000 in two hours, having gone from $15,000 to $16,000 in five hours earlier in the day. A bitcoin was worth $9,830 at the start of the month.
Banks warned yesterday that financial markets were not prepared for the imminent launch by two large American financial exchanges of new trading products linked to bitcoin. Goldman Sachs was said to be planning to help its clients trade bitcoin “futures”, the first of which are to be launched on Monday, The Wall Street Journal reported.
Walt Lukken, president of the Futures Industry Association, which represents big US banks including Goldman Sachs and JP Morgan, said he was “apprehensive with the lack of transparency and regulation”.
The precise value of a bitcoin is difficult to determine because the digital currency is traded at different prices on several exchanges. On the Bitstamp exchange, which is considered to offer the best benchmark, one bitcoin was worth $15,450 last night, having risen as high as $15,995 during the day from a low of $13,086. However, in the late afternoon yesterday, some bitcoin exchanges were offering bitcoins for sale at prices just shy of $20,000. The price on Coinbase, the largest digital currency exchange in America, peaked above $19,900 just before midday yesterday before rapidly falling to $17,600.
@Copper_pipe when i go to send BTC from Coinbase, it adds a Network fee. Seems about 3%.
https://support.coinbase.com/customer/portal/articles/815435
Paddy power can hardly talk about taking risks or experts.
The cunts
This is a new paradigm
There are no flies on Paddy
Guys, I think my phone is broken. It’s showing that bitcoin is slightly down. Can someone post up the correct price? Thanks
13171.85 Euro
That’s a very gay profile photo
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Zero Hedge is obviously a site for lads that wax themselves