Bitcoin to hit $500,000 mark by 2030?
Poll
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| | 15 votes (26.78%) | ||
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56 members have voted
You probably said that about computers and cell phones.Quote: MaxPen21st century tulip bulbs.
When is silver going up?
Quote: AxelWolfYou probably said that about computers and cell phones.
When is silver going up?
An ounce is an ounce. Dollars to ounces is a sale right now. Silver will be worth more dollars when the dollar comes down. Silver will be around when the dollar no longer exists.
How much longer until the government gets seriously involved with Bitcoin?
I would give 90% of my net worth for tomorrow's newspaper today.
The dollar won't exists because cryptocurrency will have taken over.Quote: MaxPenAn ounce is an ounce. Dollars to ounces is a sale right now. Silver will be worth more dollars when the dollar comes down. Silver will be around when the dollar no longer exists.
How much longer until the government gets seriously involved with Bitcoin?
I would give 90% of my net worth for tomorrow's newspaper today.
Quote: MaxPenDollars to ounces is a sale right now.
The current dollar to silver ratio is $887 per oz. In 1913, it was $2.65 per oz.
Ratios
If we still had silver certificates, which were redeemable in an equal amount of silver bullion, silver would cost $887 per oz. today.
By that standard, silver is a steal, but don't expect any changes. Adjusted for inflation, an ounce of silver at yesterday’s price of 16.80 per oz., is lower than it was in 1916, when it was $17.12 per oz.
Macrotrends
Quote: Zugaas i mentioned somewhere before, the expert are predicting $3000 wroth by years end. Given the recent boost Im pretty positive it will reach that mark, if not even sooner.
I'm pro crypto. However, I never believe that anybody who is a real expert in such things is yammering his secrets away on TV or wherever.
http://www.cnbc.com/2017/05/22/bitcoin-price-hits-fresh-record-high-above-2100.html
Quote: DRich"If you bought $100 of bitcoin 7 years ago, you'd be sitting on $72.9 million now
http://www.cnbc.com/2017/05/22/bitcoin-price-hits-fresh-record-high-above-2100.html
Lets say someone gave me 1000 bitcoin now worth around 2 million dollars. How can I get it into my US bank account in American dollars? How much will it cost in fees, spread, etc... to do so?
Only a billionaire or someone that couldn't access their wallet would ride that out.
Quote: BTLWIThe 7 year ago thing is silly. There's nobody who wouldn't have sold most of their bits on the ride up. "Oh, my $100 is worth $500,000 now? I'm going to wait and see just how high it can go.". "Oh look, it's worth $18M? Better hold on." said nobody ever.
Only a billionaire or someone that couldn't access their wallet would ride that out.
I bet there are a lot of people that have some bitcoin from that time that have completely forgot about them or never really knew that they had them.
I'm guessing because we have heard of him the pizza guy that got paid 10,000 bitcoin for two pizzas has probably sold all of his holdings.
Quote: DRichI bet there are a lot of people that have some bitcoin from that time that have completely forgot about them or never really knew that they had them.
I'm guessing because we have heard of him the pizza guy that got paid 10,000 bitcoin for two pizzas has probably sold all of his holdings.
Some guy had several hundred BTC on a wallet stored hard drive he threw away.
I thought his GF toss it out. I can't remember exactly what happened, but I'm willing to bet it was really all her fault to begin with.Quote: gamerfreakSome guy had several hundred BTC on a wallet stored hard drive he threw away.
BC NOW AT 2251.00 US Dollar
And even if someone found out they had that much in bitcoin and then tried to sell them, I think it would crash the BC market. ???Quote: BTLWIThe 7 year ago thing is silly. There's nobody who wouldn't have sold most of their bits on the ride up. "Oh, my $100 is worth $500,000 now? I'm going to wait and see just how high it can go.". "Oh look, it's worth $18M? Better hold on." said nobody ever.
Only a billionaire or someone that couldn't access their wallet would ride that out.
2380.01 US Dollar
Quote: SOOPOOLets say someone gave me 1000 bitcoin now worth around 2 million dollars. How can I get it into my US bank account in American dollars? How much will it cost in fees, spread, etc... to do so?
It's very telling that two full days have passed and no one can explain that.
Quote: SkepticIt's very telling that two full days have passed and no one can explain that.
I still have never owned any Bitcoin but I believe there are exchanges like this one where you can sell and I assure wire your funds in USD to any bank account you wish.
Cash transfers from overseas bitcoin exchanges will raise all sorts of red flags with your bank.
Quote: TankoBusiness Insider: How to Buy and Sell Bitcoin
Be sure to read the whole thing, especially the last line:
"Oh, and a final thing: When I tried to buy lunch after all this, my card got declined. My bank had blocked the card after the initial purchase."
He also had to marry his bank account to his Coinbase account, giving them all of the account details.
I think people who use BC for criminal activity while wishing to remain anonymous use BitPlastic and use ATMs.
BC. 2541.67
As far as converting crypto currency to dollars, you could easily purchase gold and silver with crypto and then easily convert that to dollars if you want to retain anonymity.
Quote: SOOPOOLets say someone gave me 1000 bitcoin now worth around 2 million dollars. How can I get it into my US bank account in American dollars? How much will it cost in fees, spread, etc... to do so?
There are several ways:
1) You could sell them using localbitcoins. they act as the escrow to make sure you don't get scammed. or you could bypass the escrow and do a transaction in person.
2) You could use a Bitcoin ATM. there are over 1200 Bitcoin ATM's globally and while all of them allow you to buy bitcoin for cash, only about 30% allow you to sell your bitcoins for cash. There are fees involved but they are generally a lot lower than what you would buy if you were trying to buy bitcoin. This is because ATM operators sometimes have trouble getting bitcoin. Some big players might even buy your bitcoin at market value. But daily transaction limits would make this a headache.
3) The way I would recommend is opening an account with an exchange. There are over 40 exchanges in the world and some are not as reliable as the others. The most popular in the United States is coinbase. You could open an account with them and link it to your bank account. Send all your bitcoins to your coinbase account and then sell them on the open market. They have enough volume to easily sell your 2 million dollar stash of bitcoin. The fees will be around 1.5% but if you open a trading account with them it could be as little as 0.25%.
Quote: AxelWolfI don't know how you would get 2 million in cash anonymously unless you had a private buyer who you gave a big discount too.
I think people who use BC for criminal activity while wishing to remain anonymous use BitPlastic and use ATMs.
BC. 2541.67
Not all ATM's are anonymous. Some require your phone number if you exceed a certain limit. And the software will know if you are trying to trick it by using a google voice number or something similar. And other machines require you to scan your driver's license if you do a large transaction. Your ID is sent to a 3rd party to verify your identity and to make sure no red flags pop up. Also, this will prevent you from exceeding the daily transaction amount because it will keep a running tally based on your ID.
Until this is resolved public support will not exist. However, if you believe that Bitcoin is the currency of the future, it is still extremely under valued. With just a 1/2% of all daily transactions taking place in Bitcoin it would have to carry a value of 18,000 per coin. Seeing as to how it is super slow for transactions, maybe one should focus on the procurement of the fastest transactional crypto currencies. Bitcoin may become the wealth storage part of the system if and when crypto's take over.
I think a person needs to research and find out what coins the banking system is developing, procuring, or showing interest in.
That is just a shockingly direct cause-effect track. However, the article doesn't really say how they determine "Global Uncertainty" except to mention Chinese Market drops. That formula may well be proprietary and secret, I guess.
It could also be after-the-fact correlation, perhaps forced and unrelated except in pattern, maybe even a sales tool for Fidelity to appear they understand what's happening better than other advisors.
FWIW, related but not in the article, Moody downgraded China yesterday. I guess if the article is accurate, that should result in a huge bump in Bitcoin value in the next couple weeks.
I would have to think there's a component related to Trump's election, though it's NOT my intent to make this political. Also perhaps the NK missile test escalation.
and now 2748.00 US DollarQuote: RSI keep hearing this stuff about criminals using bitcoin. How does that even work? Like what, you got Osama Bin Laden on the phone with someone, "No, Ramallah Adubadi, I only spend 50 bitcoin on those guns and ammo, NO MORE!" Or a drug dealer, "Nah bro, this sh*t's the bomb, a gram for 0.005 bitcoins or an eighth for 0.015 bitcoins.....wait Bitcoin is now $2400 or whatever Axel said? Hmm, okay it's 0.0048 for a gram and 0.0144 for an eighth."
Quote: RSI keep hearing this stuff about criminals using bitcoin. How does that even work? Like what, you got Osama Bin Laden on the phone with someone, "No, Ramallah Adubadi, I only spend 50 bitcoin on those guns and ammo, NO MORE!" Or a drug dealer, "Nah bro, this sh*t's the bomb, a gram for 0.005 bitcoins or an eighth for 0.015 bitcoins.....wait Bitcoin is now $2400 or whatever Axel said? Hmm, okay it's 0.0048 for a gram and 0.0144 for an eighth."
Drugs mostly. There's several anonymous websites where people login and buy/sell drugs similar to eBay. The drugs are sent via mail, and exceedingly few are ever intercepted. The stories I've read of people getting caught have been people buying/selling huge volumes, and most were found using old fashioned police work, not a flaw in the marketplace/bitcoin.
I've associated BitCoins with things like:drugs, nerds, casinos, shadowy jurisdictions, shadowy currency transfers. You know: money but for shady if not downright nefarious purposes.
Well, this morning it happened. I can't believe it.
I had occasion to log onto a web site of an Orchid Seller. Ain't nothing nefarious about orchids or the people who love them. They are gardeners, usually fairly well-off ones.
And Lo and Behold: There it was. Right in Plain Sight. A side window had a payment panel. Master Card, Visa, Discover, American Express, Paypal, etc. And a nice large icon that said: Bitcoin Accepte Here.
Yes, folks... if an online florist specializing in orchids is using bitcoin prominently on its website... it ain't no flash in the pan fad or some future tulip bulb.
Quote: beachbumbabsLook at this chart from the Fidelity article referenced above :
That is just a shockingly direct cause-effect track.
Correlation does not necessarily mean causation.
Quote: FleaStiffIT HAPPENED. I CAN'T BELIEVE IT, BUT IT ACTUALLY DID HAPPEN.
I've associated BitCoins with things like:drugs, nerds, casinos, shadowy jurisdictions, shadowy currency transfers. You know: money but for shady if not downright nefarious purposes.
Well, this morning it happened. I can't believe it.
I had occasion to log onto a web site of an Orchid Seller. Ain't nothing nefarious about orchids or the people who love them. They are gardeners, usually fairly well-off ones.
And Lo and Behold: There it was. Right in Plain Sight. A side window had a payment panel. Master Card, Visa, Discover, American Express, Paypal, etc. And a nice large icon that said: Bitcoin Accepte Here.
Yes, folks... if an online florist specializing in orchids is using bitcoin prominently on its website... it ain't no flash in the pan fad or some future tulip bulb.
If one bitcoin is now worth $2748, how does one buy flowers or anything relatively cheap with Bitcoin? Can you exchange fractions of bitcoins?
Quote: michael99000If one bitcoin is now worth $2748, how does one buy flowers or anything relatively cheap with Bitcoin? Can you exchange fractions of bitcoins?
They are divisible to 100 millionth, called a satoshi.
I take it you are going to hold them for a while? If so, Mike should sell you some "bitcoins" with some vig and fade the action himself when you go to cash out.Quote: djatcAnyone want to sell me some bitcoin? NOT FOR DRUGS, I PROMISE
Quote: MaxPenThis whole thing is an international rejection of the US Dollar, iMo. Hold on to your hats because things are about to get crazy if this lasts much longer. Will not be good for Stocks either.
1) Do you still have to convert to dollars to buy oil (the petrodollar)? This may temper the rate things can shift, but electric vehicles would still undermine this over time.
2) Rejection of the dollar could _look_ good for stocks at first as dollars are thrown into stocks, publicly listed in dollars.
Quote: FleaStiffIT HAPPENED. I CAN'T BELIEVE IT, BUT IT ACTUALLY DID HAPPEN.
...
And Lo and Behold: There it was. Right in Plain Sight. A side window had a payment panel. Master Card, Visa, Discover, American Express, Paypal, etc. And a nice large icon that said: Bitcoin Accepte Here.
Yes, folks... if an online florist specializing in orchids is using bitcoin prominently on its website... it ain't no flash in the pan fad or some future tulip bulb.
For political reasons, accepting bitcoin will be high on my list of priorities for anything I produce. My current project is gambling related, so maybe it's shady, in a way, but it's not in any way illegal. (edit: current project = AP training apps)
BC 2546.99 US Dollar
Quote: AxelWolfI thought I looked and it was 2459. and 30 min later it's now at
BC 2546.99 US Dollar
Every time they talk about how cheap gas prices are on tv, gas shoots up office the next day.
Quote: WizardQuote: beachbumbabsLook at this chart from the Fidelity article referenced above :
That is just a shockingly direct cause-effect track.
Correlation does not necessarily mean causation.
Agree. Which is why I said one paragraph later...
Quote:It could also be after-the-fact correlation, perhaps forced and unrelated except in pattern, maybe even a sales tool for Fidelity to appear they understand what's happening better than other advisors.
If they're able to predict the movement using this single uncertainty metric, they can make a fortune (for themselves AND their customers) with the volatility and having a few days to a week lead time on the market response. But they could be doping up the facts and formula so it just LOOKS like they can. Who knows?
Quote: djatcAnyone want to sell me some bitcoin? NOT FOR DRUGS, I PROMISE
PM me. I'm open to selling you a WizCoin, which is pegged to the value of a BitCoin.
Quote: WizardPM me. I'm open to selling you a WizCoin, which is pegged to the value of a BitCoin.
I want to bet my Schrute bucks and Stanley nickels.
Both parties agree that a WizCoin is pegged exactly to the value of a Bitcoin, per the stated source of the value in USD.
Djatc, please confirm.
Quote: WizardI would like to make a record of the sale of 0.25 WizCoin on credit to djatc. We agreed to use https://coinmarketcap.com/currencies/bitcoin/ as the source for the price, which is currently at $2332.93 per Bitcoin. Either party may force a sale at any time. Both parties should agree on a date and time the sale should close.
Both parties agree that a WizCoin is pegged exactly to the value of a Bitcoin, per the stated source of the value in USD.
Djatc, please confirm.
Sounds good, can I get some drink tickets for this bet?
Quote: gamerfreakI'll buy some BTC if anyone else is selling.
Same, with a trusted member on this site. I'm looking to add some BTC to my collection
http://www.cnbc.com/2017/05/25/here-are-the-ways-to-buy-bitcoin.html
