Where will Bitcoin be on 9/4/2018?

BTC hit an all time high on 17 December 2017 of $19,783.06

Currently it is back up to $16,250 (13 November 2020). Market cap is at $300 billion.

The world's first central bank digital currency was just issued on 20 October 2020 in the Bahamas. The Bahamian central bank issues about $450 million in banknotes. The CBDC is being promoted as a boon to the poor and unbanked in the Bahamas.

Quote: Pacomartin

BTC hit an all time high on 17 December 2017 of $19,783.06
Currently it is back up to $16,250 (13 November 2020). Market cap is at $300 billion.

BTC at $17,914.02 so it is not clear if it is going to set a new record.

Quote: Pacomartin

The world's first central bank digital currency was just issued on 20 October 2020 in the Bahamas. The Bahamian central bank issues about $450 million in banknotes. The CBDC is being promoted as a boon to the poor and unbanked in the Bahamas.

I looked up the number of banknotes per person per denomination in Bahamas. There is an extremely large number worth less than $5. So if Bahamas intends to issue a digital banknote only when banknotes are retired it looks like they are trying to reduce the large number of small banknotes.

Banknotes circulating per person at the end of 2019
4.4 $0.50
63.1 $1
1.8 $3
6.1 $5
4.8 $10
6.8 $20
8.0 $50
4.6 $100

It seems unlikely that the Bahamian digital currency will be of much interest outside of Bahamas unless they expand their scope.

Right now TETHER, a private crypto coin tethered at value to the USD, has a market cap of $18,123,164,717 which is far more than the $458,223,965 that Bahamas is circulating in paper banknotes.

Quote: Pacomartin

BTC at $17,914.02 so it is not clear if it is going to set a new record.

Clear now, hit one today!

This time much firmer than all the Asian trading 3 years ago.

Where does it go to from here?

Quote: Pacomartin

BTC hit an all time high on 17 December 2017 of $19,783.06

Currently it is back up to $16,250 (13 November 2020). Market cap is at $300 billion.

Up over 100% since then! Might hit $40000 tonight. A few big boys individually now buying every mined token daily. That is each.

Will we hit six figures by spring?

Quote: AZDuffman

Up over 100% since then! Might hit $40000 tonight. A few big boys individually now buying every mined token daily. That is each.

Will we hit six figures by spring?

you own a few, right? My son owns 0.5. Paid $5k. Now worth $20k. He is grounded enough to know he was lucky. I keep trying to get him to sell 1/4 BTC. He has been wise to ignore me as I started bothering him around $23k.

Quote: SOOPOO

you own a few, right? My son owns 0.5. Paid $5k. Now worth $20k. He is grounded enough to know he was lucky. I keep trying to get him to sell 1/4 BTC. He has been wise to ignore me as I started bothering him around $23k.

I wish a few! A little over 1.0.

Tell him to hold it. USD getting crushed in general will help. BTC finally getting mainstream acceptance. Even JPMC, the one who's CEO said he would fire anyone trading in it 3 years ago, predicts 6 figures this year. Quite a trurnaround. Though Jamie is still the CEO I would probably most want to shadow for a day if I could. Banking genius of our time.

Quote: AZDuffman

I wish a few! A little over 1.0.

I sent 0.4 BTC to buy a computer 5.5 years ago when it was $641 per BTC.
2014-07-01 @ $640.69 per BTC sent 0.4038BTC to purchase a desktop computer

Would be worth over $15K today.

Quote: Pacomartin

I sent 0.4 BTC to buy a computer 5.5 years ago when it was $641 per BTC.
2014-07-01 @ $640.69 per BTC sent 0.4038BTC to purchase a desktop computer

Would be worth over $15K today.

That's a pretty nice computer.

Quote: AZDuffman

USD getting crushed in general will help. BTC finally getting mainstream acceptance.

Governments can ban cryptocurrencies, but for now, Bitcoin is a hedge against bad governance. The dollar was the traditional hedge, but with the Fed nearly doubling its balance sheet in less than a year, and government debt expanding by trillions annually, the dollar is losing value and appeal.

Government and corporate debt is about 365% of the global GDP. It was 320% in 2019. Central banks are buying 1.6 billion in corporate debt every hour, with money created out of thin air. Every dollar in debt is followed up with layers of derivatives. Currently $1.4 quadrillion in known derivatives globally. That does not include over the counter derivatives, which are not tracked.

At least there is a limit on the number of Bitcoin.

"Asked whether there were any constraints on how many dollars the Fed could create, Fed chairman Jerome Powell recently said "there's no limit" except, basically, how much Washington wants."

BTC now $41k+. Happy for my son. Sad for .... me? Actually not sad for me.... I have the stock equivalents innTSLA, NIO, others...

Can AZ chime in on of wealth has been created out of thin air? It seems to me it has.