The State of Cryptocurrency

[Deleted member 158293]

Another Sunday special, Bitcoin is like clockwork lately. Interesting to see what happens Sunday evening in the U.S. when the futures market opens again with a nice size gap to make up for.

 

[hat]

Bitcoin now up over $9000.. still on a sustained up it seems..

trog

 

[Deleted member 158293]

CME Bitcoin futures constantly creating new volume highs, more & more institutions are getting in. U.S. not Asian countries seems to be leading the way globally, interesting.

 

[trog100]

gold is also on the up.. at five years highs

Live Gold Price Today - USAGOLD

The Live Gold Price Today page is essential for making informed investment decisions, featuring interactive charts to help users analyze trends and forecast future movements.

www.usagold.com

trog

 

[Deleted member 158293]

Yeah... looks like something is seriously scaring U.S. institutions into moving sizable portions of their positions into Gold & Bitcoin safe havens.

 

[FordGT90Concept]

Probably responding to the Fed...

Rate-cut euphoria elevates S&P 500 to record high

The S&P 500 hit a record high on Thursday, lifted by Wall Street's expectations that the Federal Reserve will cut interest rates as soon as next month to keep the U.S.-China trade war from stalling economic growth.

www.reuters.com

 

[dorsetknob]

Yeah... looks like something is seriously scaring U.S. institutions into moving sizable portions of their positions into Gold & Bitcoin safe havens.

Or Candidate's Confirmation for 2020

 

[Deleted member 158293]

What a mess if you factor in the U.S. $120 million Globalhawk spy plane Iran just shot down allegedly over their territory, which Iran claims unlike the boats. Markets will either be choppy, or moving to safe haven assets.

 

[FordGT90Concept]

Oil already responded...

Oil jumps 5% on Iran tension, potential U.S. fed rate cut

Oil soared more than 5% on Thursday after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington.

www.reuters.com

 

[xkm1948]

Or Candidate's Confirmation for 2020

wut? im out of news on this one

 

[trog100]

bitcoin is now just below $10000 and gold just below 1400.. something is afoot.. he he

trog

 

[Metroid]

bitcoin is now just over $10000 and gold just over 1400.. something is afoot.. he he

trog

Correction. Bitcoin was never meant to be paired to gold or anything, that was a pump scam to increase bitcoin's price fast when it was around $30, we see today that those same scammers don't want gold to be used on that terminology. Ethereum on the other side, was never paired to anything cause no limit can be found on its usage in the future. ETH will grow as much as ebusiness rise, the same can't be said about bitcoin, network 15 seconds x 10 minutes is huge and their usage is different. Bitcoin was always meant to hold value, eth to spread value.

 

[Deleted member 158293]

Bitcoin in 5 digit territory again, wonder if they'll be a pullback.

Edit: lol... up another $400 since posting

 

[Space Lynx]

I don't understand why governments of the world are not banning cryptocurrency exchanges yet, how many times do ransomware attackers have to shut down city governments and hospitals before congress or other world leaders come to their senses? Without the exchanges to fiat banks crypto is useless, if any of the major nation states banned the exchanges and private business would therefore stop accepting it, etc- it would ruin the incentive for a lot of ransomware attackers, and yes I know they could still exchange it in another country, but they would still be stuck living in that said country as a lot of nation states like to know where you got your money from, aka United Kingdom's program where they can investigate you if you have a lot of spending power, or just the IRS in USA in general being nosy even if they say they aren't, everyone knows they are.

I am merely curious, if anyone cares to explain it to me? Why have world leaders not realized this yet? Ransomware would diminish tenfold if you banned the exchanges, there is no doubt in my mind. The incentive would be gone if the value is gone.

 

[moproblems99]

Gosh, when will governments ban cars so people that drink and drive can't kill anyone again.

Correction. Bitcoin was never meant to be paired to gold or anything, that was a pump scam to increase bitcoin's price fast when it was around $30, we see today that those same scammers don't want gold to be used on that terminology. Ethereum on the other side, was never paired to anything cause no limit can be found on its usage in the future. ETH will grow as much as ebusiness rise, the same can't be said about bitcoin, network 15 seconds x 10 minutes is huge and their usage is different. Bitcoin was always meant to hold value, eth to spread value.

It's not that it is paired to gold it is that the indicators kind of flare at the same time and for similar reasons.

 

[trog100]

people dont buy gold to spend it they buy it to hold value in risky times.. i think the same thing is happening to bitcoin..

trog

 

[R-T-B]

I don't understand why governments of the world are not banning cryptocurrency exchanges yet, how many times do ransomware attackers have to shut down city governments and hospitals before congress or other world leaders come to their senses?

Because those bigtime scammers aren't cashing out at exchanges like that. You'd be caught instantly.

It's not that it is paired to gold it is that the indicators kind of flare at the same time and for similar reasons.

Satoshi Nakamato did once state it's limit is not arbitrary and designed to mimic a certain precious metal, ironic as it has exceeded it.

 

[lexluthermiester]

Satoshi Nakamato did once state it's limit is not arbitrary and designed to mimic a certain precious metal, ironic as it has exceeded it.

Well if you think about it, there's less of it to go around. Bitcoin(proper) has a limit, only so many can be derived/mined and once that limit is reached, there's no more. Gold is something we continue to mine, and when we get more creative we'll find more of it.

 

[R-T-B]

Well if you think about it, there's less of it to go around. Bitcoin(proper) has a limit, only so many can be derived/mined and once that limit is reached, there's no more. Gold is something we continue to mine, and when we get more creative we'll find more of it.

There is a finite amount of gold (considering the earth-only) in the end though and as more is mined, production becomes more and more costly. That is precisely what the block halvings attempt to emulate.

 

[lexluthermiester]

There is a finite amount of gold (considering the earth-only) in the end though and as more is mined, production becomes more and more costly. That is precisely what the block halvings attempt to emulate.

While that's a good point, there is a great deal more left in the ground that we haven't gone after yet. I read one estimate that stated in all of our history we have yet to touch even 0.1% of the gold available in the earth's crust. With Bitcoin, it's mostly been mined. There's what, less than 20% left to be found?

 

[Space Lynx]

Because those bigtime scammers aren't cashing out at exchanges like that. You'd be caught instantly.



Satoshi Nakamato did once state it's limit is not arbitrary and designed to mimic a certain precious metal, ironic as it has exceeded it.

The big time scammers are indeed using the monero coin they get and converting it to bitcoin, and then to zcash, back to monero, several wallets several vpn's, but I have no doubt in my mind that ransomware folks are taking that monero coin to fiat through a long and slow process, or just outright buying stuff with Bitcoin as several stores accept it now. It encourages major theft the likes our society has not seen in decades. Not to mention the stealing of electricity a lot of miners do and get away with.

 

[lexluthermiester]

The big time scammers are indeed using the monero coin they get and converting it to bitcoin, and then to zcash, back to monero, several wallets several vpn's, but I have no doubt in my mind that ransomware folks are taking that monero coin to fiat through a long and slow process, or just outright buying stuff with Bitcoin as several stores accept it now. It encourages major theft the likes our society has not seen in decades. Not to mention the stealing of electricity a lot of miners do and get away with.

That statement makes a lot of assumptions and implies that such is rampant. Such an implication is incorrect.

 

[moproblems99]

It encourages major theft the likes our society has not seen in decades. Not to mention the stealing of electricity a lot of miners do and get away with.

If you think BTC is what is encouraging major theft in the likes we haven't seen for decades, then I have some ocean front property in Nebraska to sell you.

 

[Deleted member 158293]

Odd question, a Raspberry Pi was used to hack NASA, should all Raspberry Pi, and by extension, all computers be banned?

In other news... 1 BTC is worth over 7 oz. of gold at time of writing.

 

[Space Lynx]

That statement makes a lot of assumptions and implies that such is rampant. Such an implication is incorrect.

It is? I have read about 20 hospital and local city government ransomware that were forced to pay in last 12 months alone, and it's increasing at a compounding rate as price goes up.

Odd question, a Raspberry Pi was used to hack NASA, should all Raspberry Pi, and by extension, all computers be banned?

In other news... 1 BTC is worth over 7 oz. of gold at time of writing.

no but critical systems should never be hooked up to an online network to begin with. LAN only imo. the context of your argument is different than mine, but thanks for trying to distort it.

regardless I don't care either way. i have lived 15 years on 10 bucks an hour, and quite frankly I am plenty happy. enjoy all your riches.