Bitcoin skyrockets above $7,000

[743 roadmasterParticipant]

https://www.msn.com/en-us/money/markets/bitcoin-skyrockets-above-dollar7000-for-the-first-time/ar-AAulvCi?OCID=ansmsnnews11

The digital currency bitcoin rocketed above $7,000 for the first time Thursday after a more than sevenfold increase in its value since the start of the year.

Bitcoin has seen eye-watering gains in recent months and has more than doubled in value in the past seven weeks alone. It hit as high as $7,066.44 on the Luxembourg-based Bitstamp exchange Thursday.

The latest rally was driven by news earlier this week that the world’s largest derivatives exchange operator CME Group is to launch bitcoin futures.

The price move takes bitcoin’s aggregate value, or “market cap” — its price multiplied by the number of bitcoins released into circulation — to more than $117 billion, according to industry website Coinmarketcap.

The aggregate value of all cryptocurrencies is now at a record high of over $190 billion, the website said.

——–I think there has been a need for a currency that is outside the control of governments. The current 7k price is a serious over evaluation. Adding it into the derivatives market is not going to help any.

mgtow is its own worst enemy- https://www.campusreform.org/

[Anonymous 6]

I hate that i didn’t buy $100 dollars worth of that stock in 2007. Even if it is a bit suspect and not backed by anything. I could have made a s~~~ ton, and slowly sold off. And put the money i made in better places. Talk about a come up!!

[CarnageParticipant 22113]

Anonymous wrote:

I hate that i didn’t buy $100 dollars worth of that stock in 2007. Even if it is a bit suspect and not backed by anything. I could have made a s~~~ ton, and slowly sold off. And put the money i made in better places. Talk about a come up!!

Me too venom.

But I have a bit of hope that bitcoin will make it to a few trillions in total value. AND THEN CRASH LIKE A STONE.

That wold be a beautiful disaster, the one I been wishing for.

To those following me, be careful, I just farted. Men those beans are killers.

[SandalsParticipant 4253]

Anonymous wrote:

I hate that i didn’t buy $100 dollars worth of that stock in 2007. Even if it is a bit suspect and not backed by anything. I could have made a s~~~ ton, and slowly sold off. And put the money i made in better places. Talk about a come up!!

Can this not be said about any investment that went way up? Why not buy an investment today that will be up in the future?

[NerdTunnelerParticipant]

Considering bitcoin is not backed by anything, it would be much better to invest in real assets instead of gambling on stocks. Just my 0.02…

Bitcoin futures is still betting that this “commodity” will rise or fall with time…It would be similar to predicting the weather and making oney off of it…Come to think of it, betting on weather is already happening through derivatives…

I stand with feet apart and let my balls hang free...Manginas dont have balls...See how they stand and sit at the whim of their masters...

[743 roadmasterParticipant]

The dollar is only backed by your faith in the ability to use it as currency. More or less the same value as bitcoin. The difference now is being that people have a profound interest in bitcoin.
I suspect that bitcoin is here to stay for the simple reason that so many people across the globe are now using it as a currency.(and more people want to use it as currency)

mgtow is its own worst enemy- https://www.campusreform.org/

[Jan SobieskiParticipant 28791]

Bubble?

Love is just alimony waiting to happen. Visit mgtow.com.

[CarnageParticipant 22113]

743 roadmaster wrote:

The dollar is only backed by your faith in the ability to use it as currency. More or less the same value as bitcoin. The difference now is being that people have a profound interest in bitcoin.
I suspect that bitcoin is here to stay for the simple reason that so many people across the globe are now using it as a currency.(and more people want to use it as currency)

Yeah but bitcoin ain’t real. Dollar exist, is just paper, but you can at least have it, smells like cocaine and strippers ass, but you can touch it.

Bitcoin?

To those following me, be careful, I just farted. Men those beans are killers.

[CarnageParticipant 22113]

Jan Sobieski wrote:

Bubble?

I hope, go up up up.

To a few trillions.

Then go down like hell, I wanna see it total world disaster.

To those following me, be careful, I just farted. Men those beans are killers.

[743 roadmasterParticipant]

Carnage wrote:

743 roadmaster wrote:

The dollar is only backed by your faith in the ability to use it as currency. More or less the same value as bitcoin. The difference now is being that people have a profound interest in bitcoin.
I suspect that bitcoin is here to stay for the simple reason that so many people across the globe are now using it as a currency.(and more people want to use it as currency)

Yeah but bitcoin ain’t real. Dollar exist, is just paper, but you can at least have it, smells like cocaine and strippers ass, but you can touch it.

Bitcoin?

How often do you use real currency? Growing number of people never put finger to a single dollar. What is the difference?

mgtow is its own worst enemy- https://www.campusreform.org/

[CarnageParticipant 22113]

Ohh there is a lot of diference, while is true most of my money is in the bank or in stocks, I have always 500-1000€ in cash in my house.

150€ all times in my wallet. And I use it, I do not always pay by card.

Second: imagine you are married and you want out. You stash away and run.

With bitcoin you can’t stash up, you might get a device or what ever, but you have to connect to “something “ to use it.

With cash you could be spending your money for 10 years and no one wold know, no registry, no transfers, no bank account, nothing.

Another thing, I believe bitcoin is doing Soo well becouse people is loundering money, think about it. You can buy bit coin from anywhere in the planet, then move to another place, sell up, government is gonna ask, where you got all that money?

Ohhh I sold some bitcoins I had… well…

Not that I care, but I don’t think bitcoin is beneficial for the common men.

At the end it wold be impossible to go off the grid if bitcoin becomes real currency and no a safe heaven like is looking like.

Although rigth now is just an speculative asset to make money really fast.

To those following me, be careful, I just farted. Men those beans are killers.

[CarnageParticipant 22113]

Nothing is untraceable, nothing is “safe”, nothing is bullet probe.

To those following me, be careful, I just farted. Men those beans are killers.

[CarnageParticipant 22113]

We abandoned gold and silver for paper.

Problem: they can print all they want…

Then money became digital: problem there is a lot of money that doesn’t even exist. You invest 1000000 in stocks right now, tomorrow the stock goes up 3%. That’s 30000 out of nowhere, no real wealth was built, just the idea of it. There is the same amount of everything in the world but just more money in virtual world.

Bitcoin will be totally virtual: 1 bitcoin can be sub divided to a Satoshi… that’s a hell lot of division. You don’t need to increase bitcoin number to create inflation, you just have to divide it.

Imagine they pay you 1 bitcoin at work today. If in 10 years an Apple cost a Satoshi, you are multimillionaire… if we are all rich, who is gonna work?

Another choice is the alt coins, just create more, don’t even have to print it, just make it up out of thin air.

The idea of bitcoin as a currency is preposterous, and what happens if all the bitcoin in the planet fall in hands of billgates?

He have them all, you can’t mine more… now what?

To those following me, be careful, I just farted. Men those beans are killers.

[AttonParticipant]

It is technically backed by the reality that it represents a huge amount of computational work.

A MGTOW is a man who is not a woman's bitch!

[DarkRyuParticipant 2354]

I could have bought Bitcoin at about $150. I could just shoot myself…

[CarnageParticipant 22113]

DarkRyu wrote:

I could have bought Bitcoin at about $150. I could just shoot myself…

I had a wallet and everything with 20€ I would be rich today.

Who cares that’s the past. I shouldn’t have married also.

Regret is not cool. Now the thing is to see if there is another big jump in 10-20 years.

To those following me, be careful, I just farted. Men those beans are killers.

[DarkRyuParticipant 2354]

Carnage wrote:

DarkRyu wrote:

I could have bought Bitcoin at about $150. I could just shoot myself…

I had a wallet and everything with 20€ I would be rich today.

Who cares that’s the past. I shouldn’t have married also.

Regret is not cool. Now the thing is to see if there is another big jump in 10-20 years.

I’m hoping Bitcoin takes a huge dump (like 50% or more). Once it does I think I’ll buy some. But an increase of 600% in a year? That’s DEFINITELY a bubble. You’d be crazy to buy any right now.

[Anonymous 42]

I’m betting precious metals will rise.
It’s not that their “value” is “rising”, rather the fiat dollar is being watered down with buckets of new ink and paper.

It’s simple mathematics, the dollar is DEAD.

[CarnageParticipant 22113]

Anonymous wrote:

I’m betting precious metals will rise.
It’s not that their “value” is “rising”, rather the fiat dollar is being watered down with buckets of new ink and paper.

It’s simple mathematics, the dollar is DEAD.

Gold and silver are still in same level and I don’t know why.

Bitcoin does not have enough volume to steal the gold value… does it?

Maybe precious metal are the wrong horse, but I will bet on it anyway.

To those following me, be careful, I just farted. Men those beans are killers.

[Anonymous 42]

Carnage wrote:

Maybe precious metal are the wrong horse, but I will bet on it anyway.

You can’t mold and pour Bitcoins into tangible hardware or electronics, the intrinsic value is 0, useless to all manufacturing.

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