Where will Bitcoin be on 9/4/2018?

Quote: Pacomartin

The entire crypto currency market (1500 coins) which peaked at $835 billion on January 7th has come crashing down to $372 billion.

B-but, Blockchain!

Quote: Pacomartin

The entire crypto currency market (1500 coins) which peaked at $835 billion on January 7th has come crashing down to $372 billion.

It's planted firmly in the mid 8000's
today. I see Ripple might dip below
$1, just a month ago it was $1.40,
that's a huge loss in just a month..

I see some EU gov't official has compared
Bitcoin to Pokeman cards. Things
like that don't help crypto's at all..

Quote: Evenbob

It's planted firmly in the mid 8000's today. I see Ripple might dip below $1, just a month ago it was $1.40, that's a huge loss in just a month..

Ripple hit $3.84 on January 4th and is currently at 83 cents.

Quote: Wizard

I said over and over last year that the crash was coming. Before the question was how high would it get before the crash. Now the question is how low will it get?

All predictions are total wild @ss guesses. I don't think any theory makes more sense than another . My WAG is that it won't go back down to $1K, so I picked a higher number.

But remember I only kept my BTC for 13 days in 2014 @$640.69 and bought a computer thinking that it would never reach $1k again ($1150 on November 13, 2013). So clearly I qualify as a total fool.

The guy thought bought the two pizzas in 2010 for what would (even at the dropped price) now be worth $85 million must feel much worse.

Quote: THE RISE AND FALL OF BITCOIN AUTHOR: BENJAMIN WALLACE. BENJAMIN WALLACE: 11.23.2011

Laszlo Hanyecz, a Florida programmer, conducted what bitcoiners think of as the first real-world bitcoin transaction, paying 10,000 bitcoins to get two pizzas delivered from Papa John’s. (He sent the bitcoins to a volunteer in England, who then called in a credit card order transatlantically.)

Through 2009 and early 2010, bitcoins had no value at all, and for the first six months after they started trading in April 2010, the value of one bitcoin stayed below 14 cents. Then, as the currency gained viral traction in summer 2010, rising demand for a limited supply caused the price on online exchanges to start moving. By early November, it surged to 36 cents before settling down to around 29 cents. In February 2011, it rose again and was mentioned on Slashdot for achieving “dollar parity”; it hit $1.06 before settling in at roughly 87 cents.

Quote: Pacomartin

The guy thought bought the two pizzas in 2010 for what would (even at the dropped price) now be worth $85 million must feel much worse.

Is this story of the pizza guy really true?

Quote: Wizard

Is this story of the pizza guy really true?

Pizza shop not a delivery guy otherwise yes. See the bitcoin doc on Netflix for details.

Quote: Wizard

Is this story of the pizza guy really true?

I think so. Bitcoins were only 16 months old and nobody had ever really bought anything with them. He actually gave 10,000 bitcoins to somebody in exchange for a credit card number to buy the pizzas. It was the first time anyone ever could attach a value to a bitcoin, "one large pizza" was worth 5000 bitcoins

Maybe 6-8 weeks later the value of a bitcoin was worth one penny. So 5000 bitcoins was now worth about US$50. Roughly ten months later the bitcoin wwas worth $1

Quote:

On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions weren't properly verified before they were included in the transaction log or blockchain, which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins. On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol.

It took a year after this hack to recover and surpass $30 .

The best story is the guy who mined 7500 bitcoins in 2009 until his girlfriend made him stop because the computer was too noisy. He spilled lemonade on the computer in 2010 and dismantled it for parts. He kept the hard drive for three years, and tossed it out in summer of 2013 without realizing he had not backed up the bitcoin wallet. When he tossed out the drive bitcoins were about $100 , and this article was written when they soared to $1000. Can you imagine how upset he was when they hit $20,000?
https://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site

BC dips into the 6000's today, lowest
since 2015. Twinkletoes Twins are
screaming (literally) BUY BUY BUY!
No better time to buy big. No thanks..

Every day another blow is delivered
to crypto. J.P. Morgan Chase, Bank of
America and Citigroup said Friday they
decided not to allow customers to buy
cryptocurrencies with the companies
credit cards. That's a huge deal and
more CC companies will follow.

Quote: Evenbob

BC dips into the 6000's today, lowest since 2015.

The Market Cap of all 1500 cryptos is : $289.25 billion, down from $830 billion in early January.
Surprisingly the market cap has only fallen to where it was last Thanksgiving.

Quote: Pacomartin

The Market Cap of all 1500 cryptos is : $289.25 billion, down from $830 billion in early January.
Surprisingly the market cap has only fallen to where it was last Thanksgiving.

It's 11:30pm and BC is at $6200, almost unreal.

“Cryptocurrencies are a perfect vehicle for scams,” said Kevin Werbach, a professor at University of Pennsylvania’s Wharton School. “The combination of gullible buyers and low barriers for scammers were bound to lead to a high level of fraud, if and when the money involved got large. The fact that the money got huge almost overnight, before there were good regulatory or even self-regulatory models in place, made the problem acute.”

And they say regulation is almost impossible.
I called this from the gitgo, it had Ponzi written
all over it. Buy in early, get out before it collapses..