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Poll: Bitcoin Reaches $10,000 or $100 first?

Discussion in 'Topical Discussions (In Depth)' started by goldielox1, Nov 11, 2017.



?

Does Bitcoin Move To $10,000 or $100 Next?

  1. $10,000

    82.4%
  2. $100

    17.6%
  1. Joe King

    Joe King Gold Member Gold Chaser

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    $8923.
     
  2. FthePolice

    FthePolice Seeker

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    Crazy
     
  3. Mujahideen

    Mujahideen Black Member Midas Member

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    I’m gonna go ahead and vote 10k.
     
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  4. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    At the rate it's going, it will bust 10k within the week.
     
  5. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    New poll should be created, will it first hit 15k or $6k.
     
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  6. Area51

    Area51 Silver Miner Seeker

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    It'd be much more appropriate for a poll to ask:

    "What intrinsically worthless currency will hit ZERO first - - the USD or bitcoin?"
     
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  7. Mujahideen

    Mujahideen Black Member Midas Member

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    What currency isn’t intrinsically worthless?

    Gold is a great store of value but a terrible currency. Same for silver; and I’d imagine anything with intrinsic value would inherently be limited as a currency.

    The next best thing would be to have government backed certificatesFor commodities... but then they would simply print more than what they really have just like they did when our currency was supposedly backed by bullion.

    All that is needed for currency is honestly. With bitcoin you can know exactly how many bitcoins exist at any given time. That’s bitcoins and any good currencys role...

    Buy gold if you want to store value and hold something real.
     
    Last edited: Nov 26, 2017
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  8. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    Sorry. Only one poll per thread. :))
     
  9. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    Pretty funny.
    It's hilarious to read post from individuals that refuse to even open another tab and research for five minutes.
    Its obvious you have no idea what the blockchain is or is going to be.
    Are you typing on a computer with an Intel chip? Probably. Sorry, but your chip company uses blockchain.
    Hundreds of other companies do the same.
    The efficiencies of the blockchain translate to lower costs and higher share prices, ie HyperLedger
    Everybody in the world will be using the blockchain eventually either under Microsoft or Linux.
    Even you @goldielox1.
    So investing into the Bitcoin world doesn't seem to turdish now does it?
     
  10. Joe King

    Joe King Gold Member Gold Chaser

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    It would certainly be limited in online use. I'm pretty sure that if one tries jamming SAE's into the slot on their computer in an attempt to purchase stuff on ebay, it won't work.


    Exactly. Any system based a held commodity has at least one fatal flaw. It requires imperfect and oftentimes untrustworthy people who are prone to succumb to temptation, to be trusted to run it in an honest manner.
    ...and asking for that is like asking for Heaven on Earth. Ain't gonna happen, no how no way. Show me any monetary system through history that hasn't been abused by the people charged with operating it. Does one even exist?


    Yep.


    One thing all those who take issue with "fiat money" should keep in mind is if they ever got their way and the gov re-instituted the gold standard, that would in fact make gold become fiat. Ie: it would become money by order of government. The very definition of fiat money.
    ...and the only way it would work, is if anyone could drop by and count the gold for themselves. Otherwise they'd just cheat on it like they did the last time.
     
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  11. Joe King

    Joe King Gold Member Gold Chaser

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    Or possibly the day?

    $9318 err, I mean $9339
     
  12. Joe King

    Joe King Gold Member Gold Chaser

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    $9385
     
  13. Joe King

    Joe King Gold Member Gold Chaser

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    "Crazy" looks to be marching on. Fence sitters, get yer votes in!
     
  14. #48Fan

    #48Fan Silver Member Silver Miner

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    I'm thinking a correction to around the $7k level is in the cards, then it will be off to the races!
     
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  15. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    Could be worse. $5300 is the upper median line.
     
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  16. Mujahideen

    Mujahideen Black Member Midas Member

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    What do I win when it hits 10k?
     
  17. andial

    andial Sir Midas Member Site Supporter ++

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    Bitcoin is fake news
     
  18. spinalcracker

    spinalcracker On a mail train. Silver Miner Site Supporter

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    How high is it mama?.....
    $9538.00 and rising.
     
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  19. andial

    andial Sir Midas Member Site Supporter ++

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  20. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    Last edited: Nov 26, 2017
  21. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    Motley Fool just sent out their newsletter with this article.
    Talk about people piling into that fake news.....
    ________________________________________________
    Everything You Need to Know About the Cryptocurrency Craze
    David Gardner, Motley Fool co-founder and Rule Breakers advisor

    Dear Fellow Fools,

    I recently talked with Motley Fool Rule Breakers analyst Aaron Bush about cryptocurrencies, blockchain technology, and how you might invest in this exciting new area.
     
  22. Joe King

    Joe King Gold Member Gold Chaser

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    I dunno, @goldielox1 never said.
    ...but btc broke $9600

    @goldielox1 , where are ya? You might miss it.
     
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  23. spinalcracker

    spinalcracker On a mail train. Silver Miner Site Supporter

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    Maybe the OP will start a New Poll like when will BTC reach $10,000.00

    This video is drift. Maybe not.
    Maybe BitCoin is of the devil.

     
  24. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    9620, getting closer
     
  25. Joe King

    Joe King Gold Member Gold Chaser

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    $9668 $9691

    $1k in 26 hours
     
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  26. goldielox1

    goldielox1 Silver Miner Seeker

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    Wow you're a real doofus. The original "challenge" from the crypto bag holders was to find a penny stock that went up 1000's of percent. I easily did that and posted about it. Now it's got to go up 1 million %? Love how mental midgets like you have to keep changing the rules when you're soundly defeated over and over again.
     
  27. goldielox1

    goldielox1 Silver Miner Seeker

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    You're confusing the money with the exchange medium. It'd be like arguing the 10-ton printing press for dollars makes the dollar really inefficient as currency. Or the 10-ton computer server makes the bitcoin really inefficient as currency. Bitgold I believe it is called allows one to pay for items electronically to anyone that accepts a debit card and to give or receive gold electronically as a debit or credit on one's gold account. Now of course one has to trust the vault holding the gold just like one has to trust the bank holding your "dollar bills" when you get or send money to someone electronically.

    Another mistake. Confusing the technology with the currency. Yes blockchain = good. Bitcoin = turd. Blockchain could be used to transfer gold as well. If a group like the Texas Depository was holding the bars, I'd trust a blockchain technology to transfer ownership of gold in my name.

    Again you don't have the slightest grasp what money or fiat is to make an ignorant statement like this (any others in the past). The government can't make "gold become fiat".

    LOL Even I don't think it will crash 90% to just $1000 in 26 hours, but good on you for waking up finally.
     
  28. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    I don't suppose you can find a quote to back that up...liar. No? Didn't think so.
     
  29. Mujahideen

    Mujahideen Black Member Midas Member

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    I’m not confused.

    Area51 said “intrinsically worthless currency”. You conveniently left that part out and took my quote out of context.

    Currency IS the medium of exchange by definition. Unless you’re bartering with goods or commodities then the currency is intrinsically worthless short of using the paper to burn for fire or to wipe ones ass.
     
  30. Joe King

    Joe King Gold Member Gold Chaser

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    Doing that gets you right back to the original problem Ie: imperfect people must be trusted to run it without ever succumbing to temptation to abuse their power.
    When have we ever had a monetary system that didn't end up being abused by those running it? Even our beloved gold standard got f'ed up by those in charge printing more claims on gold than existed at the time.


    Sure it can and did. By fiat simply means by decree. If gold is decreed by gov to be money again, then that in fact fits the definition of "by fiat".


    That's just how @goldielox1 rolls. lol
     
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  31. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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  32. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    Don't overlook the bigger picture here. The dollar ain't worth shit! BTC isn't going up, the dollar is showing it's true worth!
     
  33. Alton

    Alton Gold Member Gold Chaser

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    Well, if nothing else, bitcoin is putting many theories and alleged wisdom about money, finance and banking into the dreaded furnace of reality to see which will survive.

    Yes, absolutely, gold IS money. However, gold is NOT practical as a day-to-day currency for purchases at gas stations, grocery stores, restaurants and so on. It IS practical, to a limited degree, for business transactions. Gold is at it's best use as a STORE OF WEALTH.

    At this point in time silver fills the role of a day-to-day currency far better than gold due to it's greater abundance and therefore lower value per specified quantity. It is quite useable at gas stations, grocery stores and restaurants. Silver is also a store of wealth but not to the degree that gold fills this role and this is precisely because silver lacks the value of gold per specified quantity.

    Money IS whatever people will accept in exchange for goods and services. Today we accept paper called dollars. Were it not for government and central bank interventions and manipulations it would, it has and has continued to serve the populace quite well. It is NOT the medium of exchange that has and continues to fail us and which nearing collapse as a currency. It is ever and always government and bankster interventions, manipulations, taxation and regulations of the currency that damns it to the dustbin of history.

    Bitcoin and now other cryptocurrencies along with their blockchain technologies is now flowing around and completely bypassing government interventions and bankster control and manipulations. It's money in the wild. Raw and unfettered and TOTALLY a tool of the marketplace. This IS the origin and basis of money. This is the old "which came first, the chicken or the egg?" question be clearly answered. MONEY IS the product and tool of the market. Money came long before kings and states. Money has long endured WITHOUT kings and states. Money endures periods of a complete lack of kings, states, armies and banks. Again, money is the product of the marketplace NOT of government presses and printing machines and certainly NOT of banks or the central banks.

    Cryptocurrencies have recaptured the origin and basis of money, stripping political, financial and economic power from the current governments and central banks. YES! The "wild west" has returned! The banners of frredom and liberty have once again been unfurled on this earth! It's too late for governments and banksters to once again take control. They have LOST! They have been blind-sided and fully overwhelmed. Their control scheme IS toppling NOW! It is indeed beautiful and spectacular!

    However, reality MUST be faced. The cryptocurrencies come fully loaded with their own weaknesses and limitations that will prevent them from achieving all that a markt based currency could and that is it's LACK of physicality and it's TOTAL dependence on "the digital world". Computers and smartphones are the physical interface with the "meatspace market". There is no paper, no stone, no metal, no tokens, absolutely NOTHING tangible. This is the Achilles Heel of cryptocurrencies. With no digital devices one cannot participate in the use of digital currencies. This is itself a wide open door for government and banksters to waltz right in and screw everything up.. In a catastrophe where electricity is NOT available to power digital devices just how can any transactions occur? Without antennas, that do have to be powered by electricity and amplifiers, just how can ANY digital transaction occur? Within the next 2 days the earth will be receiving another blast of electricity from the sun. We already know that this WILL mess with communications, electrical grids and all the other stuff vulnerable to these energy inputs from the sun. Those that modern civilization have experienced and recorded are really nothing in comparison to what the earth and humanity have experienced in our ancient past, Electrical event have quite literally shaped the earth, altered rivers, seas and oceans, made mountains and valleys. Can anyone even conceive what such events do to electrical grids? Digital devices? Of course, to us such events are mere quite remote possibilities. However, none can ever predict how much energy will flow to the earth from the sun by mean of a sunspot coronal mass ejection or, like the one that will hit the earth in the next two days, a plasma filament.

    Bitcoin and the other cryptocurrencies are, at this point, very much a smart "investment", a way to genuinely increase one's wealth. However, the caveat is that you turn your profits into gold and silver as soon as possible and as often as is necessary. This along with taking some profits in the current physical currencies. This will give you funds to work with now and a great way to build and protect your actual wealth. To use an old bit of wisdom, "make hay while the sun shines". Pinning yourself to any particular currency or store of wealth at this time is NOT a smart idea if you're looking to prosper. You must take the risk and be very dynamic in how you handle your money. The dollar WILL collapse and I trust we are all well aware of how helpless and stupid governments and banks become in such situations. Cryptocurrencies are available NOW to provide an effective, albeit temporary cushion against the stupidity of governments during periods of economic chaos and hell. Think of them as the ultimate prep against the vicissitudes of the future. After all, your MREs will only last so long and the world is going to require some serious time to recover from this mess.
     
  34. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    Being Cyber Monday I'm wondering if we're going to see 10,000 today ?
    Everyone is taking profits and spending on xmas stuff they probably don't need.
     
  35. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

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    Bitcoin was created to be decentralized store of wealth.
    I'm wondering how my physicality we need ? Other than holding our pm's, of course.
    The blockchain basically comes with built in efficiencies and cost savings.
    Ways of using your "store of wealth" haven't even been created yet.
    Of course, they probably will be digital but who says they have to be?
    My Bitcoin and crypto wallets are pieces of paper with numbers.
    I could walk around with my laminated paper bitcoin wallet and pay for all kinds of things.
     
  36. #48Fan

    #48Fan Silver Member Silver Miner

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    Get yourself a TenX Visa card when they become available here in the US Q1 2018.
     
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  37. Tecumseh

    Tecumseh Silver Member Silver Miner

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    You wonder if an inflationary feedback loop could be set up.... bitcoin convertibility becomes easier through TenX, Gyft, E-gifter and online retailers taking them directly. That drives bitcoin (and other cryptos) price up and causes an increasing amount of their market capitalization to find its way into the "real" economy chasing "real" goods and services. At some point is the effect inflationary - increasing amount of cryptos chasing goods in the "real" or "tangible" economy devaluing fiat currencies relative value down and cryptos up. I suppose $300 Billion is a drop in the bucket of $72 Trillion in world GDP but as fast as they have risen we may not be far from cryptos market cap being in the $US Trillions. Maybe Gresham's law stops that from happening but I don't think everyone on Earth is using cryptos as an investment. I think in distressed economies they are becoming an economic lifeline.
     
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  38. Area51

    Area51 Silver Miner Seeker

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    FFS, this is now the most asinine comment you've made. It's completely laughable for you to be interjecting such idiotic nonsense. Do you not have even the slightest idea of what you're trying to talk about?

    It's as if you've got blinders on and can't grasp the concept of fiat currency. The only thing you're focused on is "government decree". That's only necessary when the currency is intrinsically worthless - - such as USDs or bitcoins - - and have no other tangible use other than as a medium of exchange. It can't be redeemed or converted into anything.
     
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  39. Area51

    Area51 Silver Miner Seeker

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    And therein lies the problem with the entire global economic system today. Every single currency in the world - - bitcoin and all other crypto currencies included - - is intrinsically worthless. Way too simple to create and inflate.

    I'd fully support a one world global currency IF - - and ONLY if - - said currency was comprised of gold silver and copper. Gold for the high value coins, ie $10k and up. Silver for the mid value coins, $100 and $50 and copper for everything below that.

    "Honesty" will never ever happen as long as there's an opportunity personal gain involved with being deceitful.
     
  40. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    You can get a bitpay visa in the US today.
     
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