When Will Bitcoin Hit $3,000?

[ElCubano]

what makes an oil painting on a canvas worth over $100 million. What is its underlying? what is its revenue stream? How much does the actual oil and canvas cost? c'mon you all should know that price action and the actual instrument don't have to be anywhere in parity. I have no idea if the bitcoin concept will ever reach main street, but that has nothing to do with what someone is willing to pay for it.

The blockchain is brilliant and HOI made a great point in hash power. Thank HOI.

Now back to trading beanie babies.

 

[johnarb]

I'm of the mindset that bitcoin is more for store of value, like a Swiss account and should be used for "special" transactions, i.e. big purchase. I don't want to use bitcoin for coffee, when I have Android pay or paypal CC on me.

I'm about to purchase a laptop on purse.io (to get a 15% discount or higher) that costs over $1300. I can't believe it's only going to cost me 0.50 bitcoin or less!!! Anyone who's held it for 3 years know how crazy that is. It's surreal.

 

[ElCubano]

I'm of the mindset that bitcoin is more for store of value, like a Swiss account and should be used for "special" transactions, i.e. big purchase. I don't want to use bitcoin for coffee, when I have Android pay or paypal CC on me.

I'm about to purchase a laptop on purse.io (to get a 15% discount or higher) that costs over $1300. I can't believe it's only going to cost me 0.50 bitcoin or less!!! Anyone who's held it for 3 years know how crazy that is. It's surreal.

How much would it cost you to send a MICRO transaction (lets say $2.50) to someone in Brazil? that's a huge benefit of crypto currencies.

 

[johnarb]

How much would it cost you to send a MICRO transaction (lets say $2.50) to someone in Brazil? that's a huge benefit of crypto currencies.

The micro-transactions are not feasible nowadays with bitcoin, as the transaction fees are about $2+ if you want to be included quickly by the miner. If you don't mind waiting a while, then you can set the transaction fee lower...

 

[Pekelo]

Is billions of transactions per day good enough for you?

Excellent. I actually don't care about the exact number as long as it can handle the world wide load of the best ever crypto currency. Because that is why it was created, right?

 

[ElCubano]

The micro-transactions are not feasible nowadays with bitcoin, as the transaction fees are about $2+ if you want to be included quickly by the miner. If you don't mind waiting a while, then you can set the transaction fee lower...

Thanks.

 

[Jdesey]

just saw this under another thread..... HMMM... tick toc tick toc... that is the sound of a bomb waiting to explode

Last night, Ethereum (regarded by many as the most "legitimate" crypto) had a flash crash where it lost 99.9% of it's value in one minute due to a single $30M sell order hitting the market.

 

[johnarb]

just saw this under another thread..... HMMM... tick toc tick toc... that is the sound of a bomb waiting to explode

Last night, Ethereum (regarded by many as the most "legitimate" crypto) had a flash crash where it lost 99.9% of it's value in one minute due to a single $30M sell order hitting the market.

I'm glad it's bringing you some joy

 

[Jdesey]

I'm glad it's bringing you some joy

No Joy here. I don't like seeing people get suckered into investing in such a trashy assets. I've been saying this long before i went to this form. These crypto currency's are just grab and mania waiting to take everybody's mone. Hell even if you were short I doubt you can get executed to cover your position after a crash like that.
I'm sure trading will be halted.

If you're in BTC get out before it's too late

 

[johnarb]

...

I'm sure trading will be halted.

If you're in BTC get out before it's too late

Thank you for the advice. I will be honest and let you know I will not take it into consideration.