• Welcome to TechPowerUp Forums, Guest! Please check out our forum guidelines for info related to our community.

Bitcoin Breaks $50,000 Barrier, Hitting the Highest Value Ever

AleksandarK

Staff member
Joined
Aug 19, 2017
Messages
923 (0.72/day)
Cryptocurrency has in the past few years gained a lot of popularity, mostly fueled by Bitcoin's rapid growth and its massive price increasing over time. Today, Bitcoin, the world's leading cryptocurrency, has managed to make history and broke the record of 50,000 USD. As of now, on February 17th at 07:00 UTC, Bitcoin has reached 50,452.60 USD value. What is driving the price up you must wonder? It is the market adoption of the currency. Tesla Inc. has invested 1.5 billion USD in Bitcoin as it intends to accept it as payment for its products. Next up is Mastercard, which is preparing to support cryptocurrency on its network. In addition to Mastercard, Apple is also preparing its services for cryptocurrency payments. Right now, the market cap of Bitcoin is $935,359,977,182 at the time of writing, just shy of one trillion USD.


View at TechPowerUp Main Site
 
Joined
Apr 9, 2018
Messages
526 (0.50/day)
Processor AMD Ryzen 5 5600X
Motherboard Asus B550-F Gaming (Wi-Fi)
Cooling Noctua NH-U9S
Memory 32GB G.Skill Ripjaws V 3600MHz CL18
Video Card(s) Asus GTX 1060 Dual 6GB
Storage 1TB Samsung 970 Evo M.2 NVMe
Display(s) Asus VS248H 1080p
Case Antec Three Hundred U3
Power Supply Be Quiet! Straight Power 11 650W Platinum
Mouse JSCO JNL-101k
Keyboard Logitech G710+
How is bitcoin considered a valid currency when the value is going up and down like a whore's drawers?
 
Joined
Jul 9, 2015
Messages
2,698 (1.31/day)
System Name My all round PC
Processor i5 750
Motherboard ASUS P7P55D-E
Memory 8GB
Video Card(s) Sapphire 380 OC... sold, waiting for Navi
Storage 256GB Samsung SSD + 2Tb + 1.5Tb
Display(s) Samsung 40" A650 TV
Case Thermaltake Chaser mk-I Tower
Power Supply 425w Enermax MODU 82+
Software Windows 10
Back, before bitcoins, Russia had this:



Nearly third of Russia was into those "bitcoins" at some point.

How is bitcoin considered a valid currency when the value is going up and down like a whore's drawers?
O - opportunity.
You can make more money with ups and downs.
It also gives it a more legit looks.
 
Joined
Jan 8, 2017
Messages
6,476 (4.28/day)
System Name Good enough
Processor AMD Ryzen R7 1700X - 4.0 Ghz / 1.350V
Motherboard ASRock B450M Pro4
Cooling Deepcool Gammaxx L240 V2
Memory 16GB - Corsair Vengeance LPX - 3333 Mhz CL16
Video Card(s) OEM Dell GTX 1080 with Kraken G12 + Water 3.0 Performer C
Storage 1x Samsung 850 EVO 250GB , 1x Samsung 860 EVO 500GB
Display(s) 4K Samsung TV
Case Deepcool Matrexx 70
Power Supply GPS-750C
Joined
Nov 27, 2013
Messages
72 (0.03/day)
I understand the skeptics but why not just ride the waves?
As newbie trader, I made quite a lot of fortunes trading altcoin than trading stock.
Stock can go up and down, while almost every altcoins won't go down while bitcoin is being bullish.
You will get profit no matter what coin you invest in. Set SL and you're pretty much safe.
As for the blockchain technology, they're inevitable.
 
Joined
May 28, 2020
Messages
545 (1.97/day)
System Name Main PC
Processor AMD Ryzen 9 5950X
Motherboard ASUS X570 Crosshair VIII Hero (Wi-Fi)
Cooling EKWB X570 VIII Hero Monoblock, 2x XD5, Heatkiller IV SB block for chipset,Alphacool 3090 Strix block
Memory 4x16GB 3200-14-14-14-34 G.Skill Trident RGB (OC: 3600-14-14-14-28)
Video Card(s) ASUS RTX 3090 Strix OC
Storage 500GB+500GB SSD RAID0, Fusion IoDrive2 1.2TB, Huawei HSSD 2TB, 11TB on server used for steam
Display(s) Dell LG CX48 (custom res: 3840x1620@120Hz) + Acer XB271HU 2560x1440@144Hz
Case Corsair 1000D
Audio Device(s) Sennheiser HD599, Blue Yeti
Power Supply Corsair RM1000i
Mouse Logitech G502 Lightspeed
Keyboard Corsair Strafe RGB MK2
Software Windows 10 Pro 20H2
How is bitcoin considered a valid currency when the value is going up and down like a whore's drawers?
How is the united states dollar considered a valid currency when in just over 70 years it's lost almost 1000% value due to inflation? ($100 in 1950 = $985.40 today)
All currencies fluctuate in value. Bitcoin is still in its infancy. Most likely it won't ever take over as a legitimate currency; it's too archaic and more of a proof of concept than an actual currency. But something like ADA or Ethereum definitely could.
 
Last edited:
Joined
Jan 8, 2017
Messages
6,476 (4.28/day)
System Name Good enough
Processor AMD Ryzen R7 1700X - 4.0 Ghz / 1.350V
Motherboard ASRock B450M Pro4
Cooling Deepcool Gammaxx L240 V2
Memory 16GB - Corsair Vengeance LPX - 3333 Mhz CL16
Video Card(s) OEM Dell GTX 1080 with Kraken G12 + Water 3.0 Performer C
Storage 1x Samsung 850 EVO 250GB , 1x Samsung 860 EVO 500GB
Display(s) 4K Samsung TV
Case Deepcool Matrexx 70
Power Supply GPS-750C
You will get profit no matter what coin you invest in.
Yeah right, nice try dude.

:roll:

There's a reason why they're also called shitcoins.
 
Joined
Jan 8, 2017
Messages
6,476 (4.28/day)
System Name Good enough
Processor AMD Ryzen R7 1700X - 4.0 Ghz / 1.350V
Motherboard ASRock B450M Pro4
Cooling Deepcool Gammaxx L240 V2
Memory 16GB - Corsair Vengeance LPX - 3333 Mhz CL16
Video Card(s) OEM Dell GTX 1080 with Kraken G12 + Water 3.0 Performer C
Storage 1x Samsung 850 EVO 250GB , 1x Samsung 860 EVO 500GB
Display(s) 4K Samsung TV
Case Deepcool Matrexx 70
Power Supply GPS-750C
They'll ban it after they get rich and empty people's pockets .

They wont need to, it will crash so hard when big investors pull out that everyone else's pockets will be emptied atomically.
 
Joined
Jan 6, 2013
Messages
21 (0.01/day)
Bitcoin is such a worthless meme of virtual data generated by absurd amounts of coal powered electricity in chinese mining farms. Gamers will never be able to buy a gpu at reasonable prices as long as this pump n dump is still in existence. It raises the value of all the crypto currencies that can be mined with gpus.
Crypto will never replace the usd for transactions. There are so many people around the world that don't know how to use computer or trust them that won't take it as a payment. In addition you have the lack of regulatory insurance on the coin exchanges and the scenario of losing your wallet password.
Someone has to end this madness before the coin mining dyson sphere is sent into orbit.
 
Joined
Jan 8, 2017
Messages
6,476 (4.28/day)
System Name Good enough
Processor AMD Ryzen R7 1700X - 4.0 Ghz / 1.350V
Motherboard ASRock B450M Pro4
Cooling Deepcool Gammaxx L240 V2
Memory 16GB - Corsair Vengeance LPX - 3333 Mhz CL16
Video Card(s) OEM Dell GTX 1080 with Kraken G12 + Water 3.0 Performer C
Storage 1x Samsung 850 EVO 250GB , 1x Samsung 860 EVO 500GB
Display(s) 4K Samsung TV
Case Deepcool Matrexx 70
Power Supply GPS-750C
Crypto will never replace the usd for transactions.
People invest in crypto with the hope that they'll make a profit after converting back to fiat currencies.

That's all that needs to be said about whether or not it will replace fiat.
 
Joined
May 8, 2018
Messages
903 (0.88/day)
Location
London, UK
Pyramid ponzi scheme, thieves pumping the price in order to keep new sheeps coming in to buy and then suddenly they dump to hehell.
 
Joined
May 2, 2017
Messages
3,658 (2.62/day)
Location
Norwegian, currently in Lund, Sweden
Processor AMD Ryzen 5 1600X
Motherboard Biostar X370GTN
Cooling Custom CPU+GPU water loop
Memory 16GB G.Skill TridentZ DDR4-3200 C16
Video Card(s) AMD R9 Fury X
Storage 500GB 960 Evo (OS ++), 500GB 850 Evo (Games)
Display(s) Dell U2711
Case NZXT H200i
Power Supply EVGA Supernova G2 750W
Mouse Logitech G602
Keyboard Lenovo Compact Keyboard with Trackpoint
Software Windows 10 Pro
People invest in crypto with the hope that they'll make a profit after converting back to fiat currencies.

That's all that needs to be said about whether or not it will replace fiat.
Indeed. It's nothing more than an "investment vehicle" (i.e. "thing for rich people to gamble on, but please don't call it gambling"), and never will be. All the crypto fanatics claiming this will somehow revolutionize the world/finance/economics/democracy/[insert pipe dream here] are just shilling for an investment scheme because they believe it'll make them rich. As with anything, in the end there'll be more losers than winners - that's the nature of competition. And as with pretty much all competition, the game is rigged in favor of those with the most resources. The rich always come out on top.
 
Joined
Jan 8, 2017
Messages
6,476 (4.28/day)
System Name Good enough
Processor AMD Ryzen R7 1700X - 4.0 Ghz / 1.350V
Motherboard ASRock B450M Pro4
Cooling Deepcool Gammaxx L240 V2
Memory 16GB - Corsair Vengeance LPX - 3333 Mhz CL16
Video Card(s) OEM Dell GTX 1080 with Kraken G12 + Water 3.0 Performer C
Storage 1x Samsung 850 EVO 250GB , 1x Samsung 860 EVO 500GB
Display(s) 4K Samsung TV
Case Deepcool Matrexx 70
Power Supply GPS-750C
The hypocrisy is real, absolutely no one gives two shits about the technology itself or it's uses, it's all about trying to make some profit from it.
 
Joined
Jul 10, 2015
Messages
505 (0.25/day)
Location
Sokovia
System Name Alienation from family
Processor i7 7700k
Motherboard Hero VIII
Cooling Macho revB
Memory 16gb Hyperx
Video Card(s) Asus 1080ti Strix OC
Storage 960evo 500gb
Display(s) AOC 4k
Case Define R2 XL
Power Supply Be f*ing Quiet 600W M Gold
Mouse NoName
Keyboard NoNameless HP
Software You have nothing on me
Benchmark Scores Personal record 100m sprint: 60m
From musk till dawn. The end is nigh.
 
Joined
Apr 6, 2009
Messages
219 (0.05/day)
Location
Finland
Processor 4690K @ 4.2GHz
Motherboard Asus Z97-P
Cooling CRYORIG H7
Memory 16GB (2x8GB) HyperX Fury, DDRS 1600MH2
Video Card(s) EVGA GTX 1070 SC Black Edition
Storage Lots
Display(s) 24" Predator GN246HL, 1080p, 144Hz
Case Phanteks P300
Power Supply Corsair CX650
Software Windows 10 Pro
Benchmark Scores 1/0 0.o
It is not a valid currency, it is lottery, they haven't banned it yet because of greed. They'll ban it after they get rich and empty people's pockets .
South Korea tried it .. Pretty much impossible to ban and control cryptocurrencies. With DeFi on the horizon and all that..

They wont need to, it will crash so hard when big investors pull out that everyone else's pockets will be emptied atomically.
Big investors got into the game way too late to make an impact, and it's global so not gonna sync too well (one sells and the other buy the dip).

People invest in crypto with the hope that they'll make a profit after converting back to fiat currencies.

That's all that needs to be said about whether or not it will replace fiat.
This I agree on. Its a basically a Casino.

I think its too complex for anyone to predict the future of cryptos, just look at the gazillion memes of failed attempts by the big players.
 
Joined
Dec 14, 2013
Messages
1,768 (0.67/day)
Location
Alabama
Processor Ryzen 2700X
Motherboard X470 Tachi Ultimate
Cooling Scythe Big Shuriken 3
Memory C.R.S.
Video Card(s) Radeon VII
Software Win 7
Benchmark Scores Never high enough
I've never seen it as worth anything and frankly never will, it's like others have said in being a ponzi scheme and that's just one aspect of it. Also used by underworld organizations for money laundering and so on, plus countries like NK and China for examples of it.

It's just data and has no material worth to or behind it.
Just needs to die and be done with it.
 
Joined
May 2, 2017
Messages
3,658 (2.62/day)
Location
Norwegian, currently in Lund, Sweden
Processor AMD Ryzen 5 1600X
Motherboard Biostar X370GTN
Cooling Custom CPU+GPU water loop
Memory 16GB G.Skill TridentZ DDR4-3200 C16
Video Card(s) AMD R9 Fury X
Storage 500GB 960 Evo (OS ++), 500GB 850 Evo (Games)
Display(s) Dell U2711
Case NZXT H200i
Power Supply EVGA Supernova G2 750W
Mouse Logitech G602
Keyboard Lenovo Compact Keyboard with Trackpoint
Software Windows 10 Pro
Big investors got into the game way too late to make an impact, and it's global so not gonna sync too well (one sells and the other buy the dip).
You mean organized crime beat them to the punch? That's probably true, money laundering is one of the major uses of crypto after all. If what you meant was that small scale investors balance out the big ones... nah. The big ones are too big. If someone pulls hundreds of millions of dollars out at some point - which they will, as all financiers are prone to panic selling - no amount of "little guys" jumping at the opportunity to buy cheap will make a dent in that.
 
Joined
Apr 12, 2013
Messages
1,153 (0.40/day)
Processor i5 6600k @ 3.9 GHz
Motherboard MSI B250
Cooling Arctic Freezer 7 pro rev 2
Memory Crucial 2x8 2133 CL16
Video Card(s) RX580
Storage Patriot SSD+2xSSD
Power Supply XFX 500w Bronze
Software Win 10 x64
It would be nice if this mining lunacy stops so that we mere mortals could buy pc parts with normal price tags not like at the moment when local shops are asking 250€+ for an 1650super and for an 1660super 600€+
 
Joined
Jun 29, 2009
Messages
1,490 (0.35/day)
Location
Heart of Europia what!
System Name ibuytheusedstuff
Processor 5960x
Motherboard x99 sabertooth
Cooling old socket775 cooler
Memory 32 Viper
Video Card(s) 1080ti on morpheus 1
Storage raptors+ssd
Display(s) acer 120hz
Case open bench
Audio Device(s) onb
Power Supply antec 1200 moar power
Mouse mx 518
Keyboard roccat arvo
think about what our papermoney cost in energy or visacards or stock exchanges running 24\7 and your new 5g in your electric phone, air conditioning and lastly every word you type on the inet every google search uses energy.
and lastly one of the the biggest is gold mining.

its like saying electric cars dont waste energy(even if they advertise it like this)-big lol

its ok to not like bitcoin but not because of the energy blabla

look at the gamestop debakel - if small peeps earn money in their way they dont like it and make new rules.
 
Joined
Dec 5, 2013
Messages
104 (0.04/day)
The issue isn't that crypto-currencies or blockchains don't have potential uses when done right, the issue is the completely arbitrary and nonsensical junk "economics" behind wasting hundreds of billions of $ in energy costs over their lifespan on the back of hyper-deflationary money-printing is almost completely divorced from reality of the real-world economy. The purpose of a currency is to be stable. That's why China under-pegs the Renminbi vs the USD to give its export economy stability. Conspiracy theorists ranting about the dollar "hyper-inflation", the Rothschilds, etc, sound edgy until you stop measuring BTC in "evil fiat" USD and start measuring it in tangible commodities, eg, the price of BTC measured in iron, copper, gold or wheat over the past decade, Bitcoin 'economics' falls apart even harder vs the inflationary "fiat" it's supposed to "cure".

Imagine being a baker seeing the price of bread in Bitcoins change from 2 to 0.002 in the space of mere months when literally nothing about the demand for bread, bakery operating costs, supply of wheat, population size, etc, is changing more than +/-5%. Pretend the USD doesn't exist, and there's only BTC vs Bread. What has "changed" outside of a speculative 'currency' bubble? Nothing. Imagine there was no USD but instead $50 oil was set to 50BTC at 1:1 10 years ago and all fiat disappeared leaving only native BTC, do you think after 10 years that BTC pricing equivalent of $0.001 per barrel is a "fair price for oil" bearing in mind it still cost a few thousands times that to actually produce? Even ditching currencies altogether and going back to bartering gives more pricing reliability.

The current bubble "values" are completely worthless vs actual real-world product pricing / trade, which is why almost nothing (except Ransomware) is priced natively in Bitcoins and the whole bubble driven by circular logic "We're buying BTC because it's valuable and it's valuable only because we're buying it" aka Tulip Mania 2.0. What a few geeks who are great at explaining Blockchains but extremely cr*p at economics really want with this stuff is a digital get-rich-quick scheme, but keep trying to dress that up to be some world changing utopia it simply isn't. The reality of the "decentralized" currency is that 95% of BTC are controlled by 2% of people and 70% of BTC wallets have less than 0.01 BTC in them. So in the end, it's ended up no different to "evil fiat" for rallies & bubbles being massively manipulated by a few on a whim except that a few "whale" investment bankers have replaced the Fed. Massive environmental damage (the cheapest electricity in China, Russia & Iran fuelling the "farms" are almost entirely fossil fuel driven) and the train-wreck left behind on PC hardware market are just icing on the cake of absurdity.
 
Last edited:
Joined
May 2, 2017
Messages
3,658 (2.62/day)
Location
Norwegian, currently in Lund, Sweden
Processor AMD Ryzen 5 1600X
Motherboard Biostar X370GTN
Cooling Custom CPU+GPU water loop
Memory 16GB G.Skill TridentZ DDR4-3200 C16
Video Card(s) AMD R9 Fury X
Storage 500GB 960 Evo (OS ++), 500GB 850 Evo (Games)
Display(s) Dell U2711
Case NZXT H200i
Power Supply EVGA Supernova G2 750W
Mouse Logitech G602
Keyboard Lenovo Compact Keyboard with Trackpoint
Software Windows 10 Pro
think about what our papermoney cost in energy or visacards or stock exchanges running 24\7 and your new 5g in your electric phone, air conditioning and lastly every word you type on the inet every google search uses energy.
and lastly one of the the biggest is gold mining.

its like saying electric cars dont waste energy(even if they advertise it like this)-big lol

its ok to not like bitcoin but not because of the energy blabla

look at the gamestop debakel - if small peeps earn money in their way they dont like it and make new rules.
Jesus. The logic. It hurts.

Okay:
"paper money" and credit/debit cards have a use. They allow us to buy and sell goods and services and not rely on bartering to get by.
5G in phones allows us to communicate.
Air conditioning (and more relevantly this time of year on the northern hemisphere: heating) allows us to live in conditions better suited to human physiology.
Internet searches allow us to gather information and orientate ourselves in a complex world.
Electric cars allow us to move around.
Gold mining provides raw materials for countless industries, even if it also provides meaningless displays of wealth for rich people.
Etc., etc.

Bitcoin and cryptocurrency? It literally has no legitimate use. Everything it allows us to do can already be done by more conventional means in cheaper, more accessible, more broadly accepted and less fundamentally problematic ways. Cryptocurrencies add nothing to the world. But it consumes energy producing millions of tons of CO2. While doing nothing of use.

Your comparisons are ridiculous.
 
Top