Bitcoin Hits All-Time High: Now Worth Over 23,000 USD

AleksandarK · Dec 17, 2020

Cryptocurrency market capitalization has now hit over $650 Billion, and that is mainly influenced by a single, most wide-spread currency on the network - Bitcoin. The Bitcoin (BTC) is the biggest cryptocurrency available, simply because it was the first one established and well designed. In its history, Bitcoin was priced anywhere from 0.1 cents to tens of thousands of US Dollars. However, in the recent soaring, the cryptocurrency has reached its peak value since it was created. Today, at around 09:14 UTC, the cryptocurrency has reached an astonishing value of 23,441.60 USD, making it a record high value. What is driving the price up and the reason for soaring is unknown, but it is a reflection of the market capitalization of cryptocurrency and its use, so it must mean that the BTC is getting more attention than ever.

View at TechPowerUp Main Site

lexluthermiester · Dec 17, 2020

It should be noted that Yearn is well above the above stated price, currently.

Coinranking | Cryptocurrency Prices - Top 50 List

View the list with all cryptocurrency prices of today. View live values of Bitcoin, Ethereum and thousands more.

coinranking.com

Vya Domus · Dec 17, 2020

but it is a reflection of the market capitalization of cryptocurrency and its use

Ah yes, it's use ! It's used for ... uhm ...

agentnathan009 · Dec 17, 2020

Bitcoin is rising because it is seen as a legitimate alternative for fiat currency. Bitcoin is no longer a joke to investors as it has benefits and features that they are finding appealing in current markets and economies. Paypal has included it as a form of currency which solidified it being a viable form of currency rather than some weird, mysterious thing in the digital dark realm. And if you think over $23,000 is a lot check this out:

As bitcoin busts out new records, these market watchers see $250,000 and even $400,000 on the horizon - MarketWatch

The reason some are speculating such ludicrously high numbers is that there is a finite amount of Bitcoin whereas the Fed can print more money, thus lowering the value. If we had a finite amount of USD then they would theoretically be worth more in the same manner that some are speculating over $100,000 valuation for Bitcoin.

Mescalamba · Dec 17, 2020

lexluthermiester said:
It should be noted that Yearn is well above the above stated price, currently.

Coinranking | Cryptocurrency Prices - Top 50 List

View the list with all cryptocurrency prices of today. View live values of Bitcoin, Ethereum and thousands more.

coinranking.com

View attachment 179897

Was just about time.

23.200 atm.

windwhirl · Dec 17, 2020

Not gonna lie, I myself see BTC as an interesting way of combining savings and investments that is probably better than nearly everything else around, but then again I live in the distortion world.

And privacy-minded guys have their own reasons to consider cryptocurrencies.

Dammeron · Dec 17, 2020

Since You can't currently use a credit card on pornhub, only cryptocurrency, I guess bitcoin worth will go even higher.

tomc100 · Dec 17, 2020

Dang, I sold all my bitcoin when it reached $19,000. I thought I hit the jackpot at the time.

ryun · Dec 17, 2020

Article said:
What is driving the price up and the reason for soaring is unknown...

Disclaimer: I'm just some random dude on the internet so don't take anything I say as absolute truth.

My hypothesis on the reasoning (if it's anything like last time it spiked then tanked) is that those with lots of legitimate money invested in bitcoin are looking to cash out as soon as the new year hits so they can write it off on next year's taxes instead of this year's. 2021 probably won't see the huge swings that 2020 did so it'll be easier to write off the huge gains from bitcoin next year assuming that the stock market of 2021 will see modest gains/losses. The coin is pumped up in value from new buys with those that have the resources to do so, which will maximize the gains of those same investors. By the end of January, you're going to see the value of the coin has tanked from all the selling.

TheDeeGee · Dec 17, 2020

Shame, i wish it died already so we got proper GPU prices.

sepheronx · Dec 17, 2020

At this rate, its a rich peoples currency. Cant say I can afford any of that besides maybe getting rid of my RSP and dumping into crypto. But I am not a gambler.

Paganstomp · Dec 17, 2020

and nVidia smiles...

lexluthermiester · Dec 17, 2020

TheDeeGee said:
Shame, i wish it died already so we got proper GPU prices.

Paganstomp said:
and nVidia smiles...

Except that GPU's are not being used for mining ATM. ASIC's are. The return is not worth the expense, especially on a large scale.

R-T-B · Dec 17, 2020

lexluthermiester said:
It should be noted that Yearn is well above the above stated price, currently.

Coinranking | Cryptocurrency Prices - Top 50 List

View the list with all cryptocurrency prices of today. View live values of Bitcoin, Ethereum and thousands more.

coinranking.com

View attachment 179897

Probably due to a low issuance unit. It has almost no market cap by comparison.

Vya Domus said:
Ah yes, it's use ! It's used for ... uhm ...

Transactions.

TheDeeGee said:
Shame, i wish it died already so we got proper GPU prices.

Has nearly nothing to do with GPU-prices anymore.

Dammeron said:
Since You can't currently use a credit card on pornhub, only cryptocurrency, I guess bitcoin worth will go even higher.

I honestly think this is the reason for the recent rise.

QUANTUMPHYSICS · Dec 17, 2020

ALL Bubbles Eventually find a Pin.

R-T-B · Dec 17, 2020

QUANTUMPHYSICS said:
ALL Bubbles Eventually find a Pin.

This one will too of course. What bitcoin has shown though is the ability to survive the "pops" longterm.

Vya Domus · Dec 17, 2020

R-T-B said:
What bitcoin has shown though is the ability to survive the "pops" longterm.

In the same way a drunkard will eventually wake up from the ditch and hit the bottle again.

mb194dc · Dec 17, 2020

It's a bubble in my view, we're at the top of the biggest bubble in history across a whole range of asset classes, stocks, housing, including crypto. Crypto value depends on how much hype can be created across social media and online, no fundamentals or utility as such. Just buy and sell before you lose it all, gambling essentially. It's the peak of the age of stupid.

I reckon the bubble goes pop and we see 70-90% falls in almost everything ultimately. When you look at the real economy and see 1.4m million new total US jobless claims in each of the last two weeks and 20.6m total continuing claims, up 1.6m from the week before. Then you look at last year and realise there were only 1.7 million total continuing claims this time last year. It's vomit worthily bad out there in the real world.

Chrispy_ · Dec 17, 2020

Bitcoin value is far too unstable to be useful as a real currency. It could easily be quadruple or a quarter of its value this time next month because there's just about nothing other than speculation giving it any value in the first place and no material backing to stabilise its worth.

ixi · Dec 17, 2020

Etherium price, please rise!

agentnathan009 · Dec 17, 2020

Chrispy_ said:
Bitcoin value is far too unstable to be useful as a real currency. It could easily be quadruple or a quarter of its value this time next month because there's just about nothing other than speculation giving it any value in the first place and no material backing to stabilise its worth.

It may gain more stability the more it is seen as a legit currency by financial institutions. Time will tell though.

PowerPC · Dec 18, 2020

mb194dc said:
It's a bubble in my view, we're at the top of the biggest bubble in history across a whole range of asset classes, stocks, housing, including crypto. Crypto value depends on how much hype can be created across social media and online, no fundamentals or utility as such. Just buy and sell before you lose it all, gambling essentially. It's the peak of the age of stupid.

I reckon the bubble goes pop and we see 70-90% falls in almost everything ultimately. When you look at the real economy and see 1.4m million new total US jobless claims in each of the last two weeks and 20.6m total continuing claims, up 1.6m from the week before. Then you look at last year and realise there were only 1.7 million total continuing claims this time last year. It's vomit worthily bad out there in the real world.

If it's so "bad out there", why is the price of Bitcoin going up? If anything, Bitcoin should have gone down during Covid. I would think that broke people wouldn't be able to afford it.

windwhirl · Dec 18, 2020

PowerPC said:
If it's so "bad out there", why is the price of Bitcoin going up? If anything, Bitcoin should have gone down during Covid. I would think that broke people wouldn't be able to afford it.

I for one can safely say that the wild ride of BTC's value is a better bet than keeping my savings in my local currency.

Arctucas · Dec 18, 2020

R-T-B said:
<SNIP>

Transactions.

<SNIP>

Explain, please.

R-T-B · Dec 18, 2020

Arctucas said:
Explain, please.

Money for things.

You decide what.

Vya Domus said:
In the same way a drunkard will eventually wake up from the ditch and hit the bottle again.

If you want that analogy, sure. Fact is it isn't going away. I told all of you this years ago. The only thing that went away (and thank god) was GPU mining.

Chrispy_ said:
Bitcoin value is far too unstable to be useful as a real currency.

I used to use it as a currency all the time.

It's fine for it. I wouldn't hold it like a currency, but you can spend it fine.

System Name	Good enough
Processor	AMD Ryzen R9 7900 - Alphacool Eisblock XPX Aurora Edge
Motherboard	ASRock B650 Pro RS
Cooling	2x 360mm NexXxoS ST30 X-Flow, 1x 360mm NexXxoS ST30, 1x 240mm NexXxoS ST30
Memory	32GB - FURY Beast RGB 5600 Mhz
Video Card(s)	Sapphire RX 7900 XT - Alphacool Eisblock Aurora
Storage	1x Kingston KC3000 1TB 1x Kingston A2000 1TB, 1x Samsung 850 EVO 250GB , 1x Samsung 860 EVO 500GB
Display(s)	LG UltraGear 32GN650-B + 4K Samsung TV
Case	Phanteks NV7
Power Supply	GPS-750C

System Name	Mirkwood
Processor	AMD RYZEN 7 3800X
Motherboard	ASUS ROG Crosshair VII Hero (Wi-Fi) AM4 AMD X470
Cooling	Noctua D15S with additional Noctua NF-A12x25 FLX fan
Memory	G.SKILL Flare X Series CL16 3200Mhz 16GB (4 x 8GB)
Video Card(s)	GIGABYTE Radeon RX 570 DirectX 12 GV-RX570GAMING-4GD 4GB
Storage	Crucial MX500 M.2 2280 500GB SATA III; WD Black 1TB Performance Desktop Hard Disk Drive
Display(s)	Philips 246E9QDSB 24" Frameless Monitor, Full HD IPS, 129% sRGB, 75Hz, FreeSync
Case	Corsair Graphite Series 780T
Audio Device(s)	Klipsch R-41PM powered monitors and SVS SB-2000 sub
Power Supply	Corsair HX650
Mouse	Logitech Wireless Performance Mouse MX
Keyboard	Old Logitech keyboard
Software	Windows 10 Pro 64Bit

System Name	System V
Processor	AMD Ryzen 5 3600
Motherboard	Asus Prime X570-P
Cooling	Cooler Master Hyper 212 // a bunch of 120 mm Xigmatek 1500 RPM fans (2 ins, 3 outs)
Memory	2x8GB Ballistix Sport LT 3200 MHz (BLS8G4D32AESCK.M8FE) (CL16-18-18-36)
Video Card(s)	Gigabyte AORUS Radeon RX 580 8 GB
Storage	SHFS37A240G / DT01ACA200 / ST10000VN0008 / ST8000VN004 / SA400S37960G / SNV21000G / NM620 2TB
Display(s)	LG 22MP55 IPS Display
Case	NZXT Source 210
Audio Device(s)	Logitech G430 Headset
Power Supply	Corsair CX650M
Software	Whatever build of Windows 11 is being served in Canary channel at the time.
Benchmark Scores	Corona 1.3: 3120620 r/s Cinebench R20: 3355 FireStrike: 12490 TimeSpy: 4624

System Name	Proper
Processor	5900X + OC
Motherboard	GB X570s Elite AX
Cooling	WC Heatkiller 3.0 LT
Memory	G.Skill 3600 CL16
Video Card(s)	Zotac RTX 3070 Ti Trinity LC'ed + OC
Storage	KC2500 1TB + A2000 1TB
Display(s)	GB M32Q
Case	Fractal Define R6 USB C
Audio Device(s)	Creative AE-7 + Phonic AM120 MkIII + H/K AVR 265 -> Paradigm Monitor 11 v.7 + AKG K712 Pro
Power Supply	Seasonic Prime PX-850
Mouse	Log G502 X LS
Keyboard	Keychron K5 Opt.brown
Software	Win10 Pro

System Name	TheDeeGee's PC
Processor	Intel Core i7-11700
Motherboard	ASRock Z590 Steel Legend
Cooling	Noctua NH-D15S
Memory	Crucial Ballistix 3200/C16 32GB
Video Card(s)	Nvidia RTX 4070 Ti 12GB
Storage	Crucial P5 Plus 2TB / Crucial P3 Plus 2TB / Crucial P3 Plus 4TB
Display(s)	EIZO CX240
Case	Lian-Li O11 Dynamic Evo XL / Noctua NF-A12x25 fans
Audio Device(s)	Creative Sound Blaster ZXR / AKG K601 Headphones
Power Supply	Seasonic PRIME Fanless TX-700
Mouse	Logitech G500S
Keyboard	Keychron Q6
Software	Windows 10 Pro 64-Bit
Benchmark Scores	None, as long as my games runs smooth.

System Name	PCGR
Processor	12400f
Motherboard	Asus ROG STRIX B660-I
Cooling	Stock Intel Cooler
Memory	2x16GB DDR5 5600 Corsair
Video Card(s)	Dell RTX 3080
Storage	1x 512GB Mmoment PCIe 3 NVME 1x 2TB Corsair S70
Display(s)	LG 32" 1440p
Case	Phanteks Evolve itx
Audio Device(s)	Onboard
Power Supply	750W Cooler Master sfx
Software	Windows 11

System Name	The Final Straw
Processor	Intel i7-7700
Motherboard	Asus Prime H270M Plus
Cooling	Arctic Liquid Freezer II 120
Memory	G.Skill 32GB DDR4 2400 - F4-2400C15D
Video Card(s)	EVGA GTX 1660 Super SC Ultra 6GB GDDR6
Storage	WD Blue SN550 512GB and 1TB M.2 + Seagate 2TB 7200 SATA
Display(s)	Acer VG270U P 2k
Case	Thermaltake Versa H17
Audio Device(s)	HDMI
Power Supply	EVGA 750 white
Mouse	Logitech
Keyboard	Logitech
VR HMD	Why?
Software	Windows 10
Benchmark Scores	3DMark06 = 33,624 / Fire Strike = 12,690 / Time Spy = 5,465 as of 7/16/2024

System Name	Pioneer
Processor	Ryzen R9 9950X
Motherboard	GIGABYTE Aorus Elite X670 AX
Cooling	Noctua NH-D15 + A whole lotta Sunon and Corsair Maglev blower fans...
Memory	64GB (4x 16GB) G.Skill Flare X5 @ DDR5-6000 CL30
Video Card(s)	XFX RX 7900 XTX Speedster Merc 310
Storage	Intel 905p Optane 960GB boot, +2x Crucial P5 Plus 2TB PCIe 4.0 NVMe SSDs
Display(s)	55" LG 55" B9 OLED 4K Display
Case	Thermaltake Core X31
Audio Device(s)	TOSLINK->Schiit Modi MB->Asgard 2 DAC Amp->AKG Pro K712 Headphones or HDMI->B9 OLED
Power Supply	FSP Hydro Ti Pro 850W
Mouse	Logitech G305 Lightspeed Wireless
Keyboard	WASD Code v3 with Cherry Green keyswitches + PBT DS keycaps
Software	Gentoo Linux x64 / Windows 11 Enterprise IoT 2024

System Name	Bragging Rights
Processor	Atom Z3735F 1.33GHz
Motherboard	It has no markings but it's green
Cooling	No, it's a 2.2W processor
Memory	2GB DDR3L-1333
Video Card(s)	Gen7 Intel HD (4EU @ 311MHz)
Storage	32GB eMMC and 128GB Sandisk Extreme U3
Display(s)	10" IPS 1280x800 60Hz
Case	Veddha T2
Audio Device(s)	Apparently, yes
Power Supply	Samsung 18W 5V fast-charger
Mouse	MX Anywhere 2
Keyboard	Logitech MX Keys (not Cherry MX at all)
VR HMD	Samsung Oddyssey, not that I'd plug it into this though....
Software	W10 21H1, barely
Benchmark Scores	I once clocked a Celeron-300A to 564MHz on an Abit BE6 and it scored over 9000.

System Name	It's just a computer
Processor	i9-14900K Direct Die
Motherboard	MSI Z790 ACE MAX
Cooling	2X D5T Vario, XSPC BayRes, 3X Nemesis GTR560, NF-A14-iPPC3000PWM, NF-A14-iPPC2000PWM, IceMan DD
Memory	TEAMGROUP FFXD548G8000HC38EDC01
Video Card(s)	MSI 4070 Ti Super w/Alphacool Eisblock Aurora RTX 4070TI Ventus with Backplate :13724
Storage	Samsung 990 PRO 1TB M.2
Display(s)	LG 32GK650F
Case	Thermaltake Xaser VI
Audio Device(s)	Auzentech X-Meridian 7.1 2G/Z-5500
Power Supply	Seasonic Prime PX-1300
Mouse	Logitech
Keyboard	Logitech
Software	Win11PRO

Bitcoin Hits All-Time High: Now Worth Over 23,000 USD

News Editor