BitCoin @ $7800USD What's YOUR Prediction for Jan 2018?

[Douglas.Curtis]

The difficulty curve is going up very steep now due to the amount of miners.

I ran into a couple kids who'd been out of the mining game for a couple years. They'd built an 8-core machine and had mined bitcoin way back in the day. They pulled it out and were getting ready to fire it up and they said... "You're going to watch bitcoins fly by like you've never seen before!"

I looked at them and said... "You are aware the difficulty is currently around 3.9 Billion, right?(this was a couple years ago) You're not going to mine anything with a little 8-core cpu miner."

They looked stunned and just blinked for a few minutes as that set in. One of them started to ask something and I said "Yes, I said Billion, with a capital B." In their favor, the conversation turned immediately to the possibility of mining other coins. lol

Wild, wild, west of cryptocurrency still.

 

[gaiusmarius]

so what was the news about both China and Russia making bit coin illegal?

are these miners doing it undercover? or was i a victim of wrong news on it being made illegal in China and Russia?

 

[ronbo51]

I looked at the charts for bitcoin, ether, and lite coin and they all skyrocketed starting around February 2017.... the only thing I can attribute to this time period is the inauguration of Trump, but are there any definite factors that people contribute to this sudden jump across the board?

I don't know about the February spike but I can tell you that a lot of wealthy people are looking hard at crypto. All these Saudi princes and rich fucks who have had their accounts frozen look pretty stupid for not having large holdings in bitcoin. We had some meetings this week with some fairly heavy hitters related to our businesses. After talking shop the meeting devolved into a crypto meeting. These guys, who are all savvy business types, wanted to know about bitcoin and ether, and how it works.

The ability to trade coins on an exchange is where it's at. Over the last couple of days my son in law made over $10,000 on binance, bnbcoin. My son started out with 2 ether and has made coin trading with Ripple and Monero. We have an in house IT guy who is a total geek but smart as hell and he is always giving us good info on various alt coins, and we all spend a lot of time on the computer looking for angles and advantages.

I think the Saudi crackdown will really fuel the next (current) leg up. China has so many wealthy folks and they are under capital controls and most chinese dream of leaving that hell hole and moving to Vancouver to live the quiet life with their stolen booty.

 

[canadacannabis]

I am depressed as shit that I sold 200 bitcoin last year for $400 a pop. I made 4X my money and was stoked at the time but I never fucking expected this. Any time bitcoin got any negative press the price would plummet. There was that Mt. GOX fiasco and so many others where people lost millions and just the fact that at first it was only really being used for illegal transactions I thought the feds would try making bitcoin exchanges illegal. I never ever believed bitcoin would rise this high as I didn't see at as a long term investment. I saw it as an alternative currency that was very risky to use and I was just happy to make some money

I believe it is gonna keep rising but eventually it will pop. I can't tell you how much of an emotional rollercoaster it is having a large sum of money in bitcoin. Wake up one morning you have 100k, the next morning you only have 75 so you panic and sell ( kind of what happened to me) Then two weeks later your kicking yourself because it's recovered.

I've gotten over my depressed thoughts as no one could have predicted this and honestly, no way would I feel safe having millions of dollars in a digital currency. If I can't hold it in my hand and spend at stores or pay my bills easily with it it's not a currency IMO.

I thought t

 

[canadacannabis]

And honestly bitcoin is a terrible digital currency now in terms of how high the fees are and how long the transactions take and they are not even close to as anonymous as advertised or as some other alt coins. Bitcoin shouldn't even be called a currency as the only people that use it as currency spend it as soon as they buy it so they don't risk the price dropping and they are only going through the trouble of buying and spending it because that's all the "online store" they are shopping on accepts. but now this new generation of long term holders is making the price rise and rise and people that used to accept bitcoin to do their business are starting to prefer others. The only reason anyone loves to accept it currently is because of how rapidly the price has spiked this last year.

 

[DeluxeBerry]

My prediction is that I will never use own or touch the stuff.

my prediction is that this all too common attitude, which stems from nothing but ignorance, will go down as the biggest regret of many peoples lives in the future. people will tell their kids and grandkids, "yeah i could have bought btc but i thought i was smart, i wasnt." my boss tells me all the time how he hates that he didnt pull the trigger when i was telling him to get in at 1000, hed be retired by now.
ive been into bitcoin since it was 90 bucks. needless to say its been a profitable ride. i dont know where id be in life if it hadnt been for btc, but id be fucking dead broke compared to now. buying my first apartment building this spring. im pretty glad i touched the stuff.
in jan itll be between 7 and 8 k i imagine, but it could go over 10k pretty easily at this point in the game.

 

[DeluxeBerry]

And honestly bitcoin is a terrible digital currency now in terms of how high the fees are and how long the transactions take and they are not even close to as anonymous as advertised or as some other alt coins. Bitcoin shouldn't even be called a currency as the only people that use it as currency spend it as soon as they buy it so they don't risk the price dropping and they are only going through the trouble of buying and spending it because that's all the "online store" they are shopping on accepts. but now this new generation of long term holders is making the price rise and rise and people that used to accept bitcoin to do their business are starting to prefer others. The only reason anyone loves to accept it currently is because of how rapidly the price has spiked this last year.

lol 'this new generation of holders' umm dude when did you get into bitcoin? those hodlers have been there FOREVER. like since the 10 dollar high bubble.

 

[canadacannabis]

my prediction is that this all too common attitude, which stems from nothing but ignorance, will go down as the biggest regret of many peoples lives in the future. people will tell their kids and grandkids, "yeah i could have bought btc but i thought i was smart, i wasnt." my boss tells me all the time how he hates that he didnt pull the trigger when i was telling him to get in at 1000, hed be retired by now.
ive been into bitcoin since it was 90 bucks. needless to say its been a profitable ride. i dont know where id be in life if it hadnt been for btc, but id be fucking dead broke compared to now. buying my first apartment building this spring. im pretty glad i touched the stuff.
in jan itll be between 7 and 8 k i imagine, but it could go over 10k pretty easily at this point in the game.

No offense but firstly, how the fuck can you be so absolutely positive that bitcoin is a sure thing investment? Do you really think the feds are gonna allow this to continue if even 5% of people keep a chunk of their money hidden in crypto that is shitloads of tax dollars lost

I'm sorry but I hate you "hodlers" that make it sound like there is zero risk. All it will take is a big exchange like coinbase to pull a Mt GOX for the price to plummet.


Bitcoin changed my life too. I made a lot more trading them than I did off the 200 I sold. Probably more than you if your just getting your first apartment yet you claim to have bought in at 90 bucks (or did you mean literally a whole building?). You'd be sitting on a fucking yaught if you were as smart as you make yourself sound I only have 1k invested on bitcoin as honestly, wtf is it good for? If you say increasing in value than bitcoin is more like a stock than a currency

Congrats on your success but no need to make me and others that sold earlier feel stupider than we do.

Everyone just wants to get rich quick and they think bitcoin is the answer. It was to many, but it can plummet AND PLUMMET FAST, FASTER THAN ITS GOING UP, AT ANY TIME! And if and when that happens, remember my post

 

[canadacannabis]

lol 'this new generation of holders' umm dude when did you get into bitcoin? those hodlers have been there FOREVER. like since the 10 dollar high bubble.

Hey fuck face. A lot earlier than you. I was playing with bitcoin when they were less than a dollar Canadian. Nowinsult me for not saving them, like i don't feel stupid enough

 

[gaiusmarius]

lol, there really is no need to be insulting.

 

[coldcanna]

As for it being a currency per se, my interpretation is that it started as a money laundering vehicle and is just starting to bleed into niche retail sites.

For it to really take off as a currency people need to get paid with crypto for their daily work. Getting paid with USD then converting it to bitcoin and buying a couch on overstock isn't really "currency" in the truest sense.

Think of gold, people really don't consider it a currency anymore, it's more of a way to hedge against inflation or financial turmoil. So how do you guys see this panning out? Will it ever get to a point where you can pay the plumber or pizza guy with bitcoin or will this stay more in the online realm. I would assume with the speculation and rise in prices that most say the former

 

[oldbootz]

Great comment coldcanna. I think you nailed it on the head. I'm certainly happy there is a place to put money that I don't want people to see.

As far as being able to use crypto as a real currency, I think all it takes is for a crypto currency to become more stable than a country's currency, then vendors and service providers would prefer to be paid in the more stable crypto currency. And this is not crazy talk. There are lots of countries where the currency is literally fucked from ruling parties greed and state money printing. Think Zimbabwe. At one time (when they still used the Zimbabwean dollars) the literal volume of cash required for a basic things like bread was more than a human being could carry unassisted. They were burning the cash in fires to keep warm as it was useless. Now they use South African rands and US dollars.

Zimbabwe's central bank allowed its citizens to exchange the country's almost worthless currency for US dollars. Its 100-trillion-dollar note is worth just 40 U.S. cents.Jun 16, 2015

 

[Douglas.Curtis]

For it to really take off as a currency people need to get paid with crypto for their daily work. Getting paid with USD then converting it to bitcoin and buying a couch on overstock isn't really "currency" in the truest sense.

I earned, was paid and spent 30 BTC, "for a living," when they were $250-$300 each. There are more and more people getting "paid" in BTC every day.

Bitcoin has gone way beyond a fanciful idea and is literally an established currency. Again, it is only one cryptocurrency and there are hundreds of others, many with their own specific purpose which will keep them alive and moving forward for decades.

BTC is quickly becoming a large wealth transfer device. You can now travel with billions, as a slip of paper or a string of code or words. Whatever it's worth, it's here to stay. Oh, and should Bitcoin die... it leaves a massive network of mining equipment which can (and is) used to mine other coins with specific purposes.

 

[troutman]

Silk Road 2.0

Closed due to money laundering and goat ranching.

 

[Douglas.Curtis]

Silk Road 2.0

Closed due to money laundering and goat ranching.

Every fiat currency, used for money laundering and every illegal act since the creation of fiat currency. What's in YOUR wallet?

 

[Pangea]

Blockchain and bitcoin tech will become the basis for the world economy.

 

[canadacannabis]

As for it being a currency per se, my interpretation is that it started as a money laundering vehicle and is just starting to bleed into niche retail sites.

For it to really take off as a currency people need to get paid with crypto for their daily work. Getting paid with USD then converting it to bitcoin and buying a couch on overstock isn't really "currency" in the truest sense.

Think of gold, people really don't consider it a currency anymore, it's more of a way to hedge against inflation or financial turmoil. So how do you guys see this panning out? Will it ever get to a point where you can pay the plumber or pizza guy with bitcoin or will this stay more in the online realm. I would assume with the speculation and rise in prices that most say the former

You'd be surprised how many average Joe's haven't even heard of bitcoin or are just starting too and very few people can explain exactly how bitcoin work and what they are without making people's head spin.

Sure there will be some guys that want to be paid in crypto (assuming the customer is wanting to pay with it) but until bitcoin is able purchase everyday goods from a store without a bunch of hassle it will not be the norm and in my opinion there's no way every store is gonna be allowed to accept bitcoins. Who the fuck is gonna pay full taxes if all transactions are done in bitcoin

The feds biggest fear was the bitcoin was going to succeed and it has. If everyone starts getting paid and paying for things in a currency that is so hard to trace and the feds lose even a few percent of tax dollars because of it they will allow it?

They of course can't get rid of bitcoin but already a few countries have made exchanging in them illegal. If that happened in North America the price would plummet

Yes I feel dumb for not holding but I believe eventually the bubble will pop and people will lose millions overnight. It has happened before and can happen again.

What type of currency fluctuates hundreds of dollars a day? Yeah everyone loves it when it's going upwards but to call it a currency is pretty laughable and people need to realize it can go down as quick if not much quicker than it went up

If the dollar went up and down like the bitcoin I wouldn't want my money there.

I just feel like people should stop talking like it's a sure thing. Most things this good come to tragic ends. You should never put in more than you wanna lose

 

[Douglas.Curtis]

If everyone starts getting paid and paying for things in a currency that is so hard to trace and the feds lose even a few percent of tax dollars because of it they will allow it?

The feds will grow to love it. As a law enforcement officer, what's not to like about an open ledger accounting book which is kept live for decades, while eventually figure out how to forensically dissect it? Every transaction, and the ip addresses associated with it, is recorded permanently on the blockchain.

It's such a pain in the ass to use bitcoin anonymously, the average joe should really skip it. The only reason they're not getting hassled for illegal activities with it, is due to them not doing enough business to matter.

This is why different methods of transparent transactions are appearing in other coins and crypto systems. Methods which leave zero trace, other than different wallet amounts a few minutes after the fact.

Whether bitcoin lives or dies, cryptocurrencies are here to stay. Which ones will make YOU rich? heh

(edit: As for day to day payments, there are cryptocurrencies which can handle thousands of transactions a second, like credit card systems can. Systems which are pushing into user/retail space more and more every day. It's a matter of when, not if.)

 

[coldcanna]

So moral of the story here is that whatever person/ company that bridges the gap between this and main St will be the next VISA, a billionaire billions of times over

 

[aridbud]

Same here. Artificial currency. The bubble will pop they always do.

I know several people who use it for anonymity on the deep web. But there are many exit strategists. Stealing escrow funds. And then you have zero recourse to get money back. A true scammers delight!

Agreed w/ artificial inflation, too fast, too soon and will drop sharply (my gut feeling)....soon, but how soon?A true scammers delight!