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Bitcoin price suddenly surges to 3-year high

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hat

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Looks like the Coinbase card might finally be coming to the US...
 

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So Bitcoin hit above 33k per coin I read today...

What is the cause of this? my best guess is that world governments continue to print in ever record breaking amounts without having any plans in place to pay it back... keep raising that debt ceiling as the bi-partisan lingo goes...
 

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What is the cause of this

Institution investors have poured in. Square, MicroStrategy, Mass Mutual and PayPal are to name a few with their mammoth quantity of buys.

Not sure about your local fomo though.
 

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Institution investors have poured in. Square, MicroStrategy, Mass Mutual and PayPal are to name a few with their mammoth quantity of buys.

Not sure about your local fomo though.

Interesting, I mean taxes have to be paid on it no matter what, so I just don't see the advantage it has. Also, TransferWise exists, and that works very well and costs about the same for a transfer as Bitcoin does, while having more insurance/security if a bad actor comes into play, with Bitcoin you have no such security. So again, I just see no reason for the interest at the corporate level.

I expect this time next year it will be back down to 9k a coin or so and corporate integration backing out from a failed experiment.
 
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Interesting, I mean taxes have to be paid on it no matter what, so I just don't see the advantage it has.

Just like the stock market, you are paying taxes on money you are taking from stupid people.
 

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Just like the stock market, you are paying taxes on money you are taking from stupid people.

I have no issues with people wanting to invest in either of these things, I just find it odd personally. For me, I'd rather keep my money in the bank where it is traditionally and historically stable/safe/insured. Perhaps, that is because I do not have much money, I imagine ego inflates the more money you have, hence Jeff Bezos wanting to build a moon base, Elon Musk wanting to go to Mars, etc.
 
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So Bitcoin hit above 33k per coin I read today...

What is the cause of this? my best guess is that world governments continue to print in ever record breaking amounts without having any plans in place to pay it back... keep raising that debt ceiling as the bi-partisan lingo goes...
My guess is with interest rates so low people are looking for something else to invest in er...gamble in. Me, I'd rather buy gold...at least it has an industrial use.
 
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Space Lynx

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My guess is with interest rates so low people are looking for something else to invest in er...gamble in. Me, I'd rather buy gold...at least it has an industrial use.

Vast majority of us humans don't have the excess money to allow investing, which was kind of my point regarding how ego increases the more wealth you have.
 
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Vast majority of us humans don't have the excess money to allow investing, which was kind of my point regarding how ego increases the more wealth you have.
And in the USA corporations are people too.
Edit: meaning I should probably have put "people" in quotes.
 
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i find it a bit odd that all the big moves seem to be happening at the weekend.. i thought the big money institutions took that off.. he he

£35000 looks on the cards for today..??

trog

mining update.. my miners are now producing around $20 dollars per day up from the $11 dollars per day when i first switched them back on a couple of weeks back... etherium is now at $1000 dollars..

trog
 
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Vast majority of us humans don't have the excess money to allow investing, which was kind of my point regarding how ego increases the more wealth you have.
It is so true, well not the ego part so much, but certainly the "Money Begets Money part". It is very hard for someone with no wealth to invest in anything except survival. That isn't fair, but then again neither is life.

ETH is killing it! So glad I sold off some stock and bought ETH a couple years ago.
 
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hat

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I'm wondering if it's going to continue to go up or crash at this point...
 

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How much do you think bitcoin is going to? I had some in the past but stupidly sold it all. Want to buy back in but i can't do it as it feels like i am being robbed due to how much lower it was when i first bought it.
 
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How much do you think bitcoin is going to? I had some in the past but stupidly sold it all. Want to buy back in but i can't do it as it feels like i am being robbed due to how much lower it was when i first bought it.
I will go out on a limb and say (IMO) if everything stays the same on the global level then $50k isn't out of reach for this year. It may crash again though, but I think the floor is now way past 10k, and it will bounce up again.
 
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its a little different now.. big money institutions are driving the price up this time around.. they are in it long term and are unlikely to be scared into panic selling..

trog
 
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Yeah many big companies have purchased 100m+ so that will add some stability.,
 

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ETH is killing it!
I ordered an RTX3080 at launch and was lucky enough to get it then too. I had the sole intention of gaming on it till I went down the rabbit hole of seeing how well they can mine ETH, plus the kicker for me, I have solar power and it's summer in Australia.

So I've been mining during daylight hours probably 5 days a week on average for 2 months now. Already at ~0.2 ETH, at this rate the 3080 will pay for itself sooner or later, plus it's still there to game with after hours.

Running 1830mhz@806mv for ~ 92.5mh/s @ 50-52c
 
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well.. bitcoin just hit 40K an hour or so back.. its dropped back to 38K now.. it will be interesting to see how quickly it recovers and carries on its way upwards..

i recon 45K over the weekend.. eth maybe 1500.. my little stash left over from 2017 is growing quite nicely.. :)

trog

ps.. my left over mining hardware.. is generating around $25 dollars per day running nicehash.. 1 x 2080ti and 8 x 1070 cards.. about 250 mh/s collectively..
 
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Hey @trog100 :)

I thought you'd be back on it :D Bitcoin and Eth have gone nuts this last week.. Mate got in touch and said that apparently it was a good idea I held the coin I had left over... Went for over 600% what they where! I was kinda happy with that :laugh:

Running NiceHash as well, trying to get in some older wallets which seem to be not open still which is a real pain... Bit left in them too... What are you getting Hashrates from your 2080 Ti and the 1070 cards by the way? I've had some interesting results with my 480's again :) Very impressed with those.. My 1080 Ti's, meh not so much sadly :(
 

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I'm in awe how much ETH has taken off, near tripled in value since I started mining around when I got my 3080. Really not a great investor tho so at this rate my plan is the long game, probably ride at least another crash and hopefully back through to another peak, if history is an indication.
 
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Hey @trog100 :)

I thought you'd be back on it :D Bitcoin and Eth have gone nuts this last week.. Mate got in touch and said that apparently it was a good idea I held the coin I had left over... Went for over 600% what they where! I was kinda happy with that :laugh:

Running NiceHash as well, trying to get in some older wallets which seem to be not open still which is a real pain... Bit left in them too... What are you getting Hashrates from your 2080 Ti and the 1070 cards by the way? I've had some interesting results with my 480's again :) Very impressed with those.. My 1080 Ti's, meh not so much sadly :(

hello phil.. 50 to 55 mh/s from the 2080ti about 25 mh/s from each 1070..

trog
 

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I find it quite strange that my 480's are hitting about the same as your 1070.. The 1080 Ti is about 35MH I think... It's a little more over the place than the 480, they seem to be very constant...

Have you used any different or special drivers for the cards Trog?

I found with a setting in AMD's Drivers that changing it from Gaming to Compute, tripled the hashrate of the cards :) I was blown away at that...
 

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I find it baffling that a GTX1080 does ~21.5 mh/s and a 1070 can do 25mh/s, I hear it's something about the memory?
 
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