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In case you have not noticed - Bitcoin is EXPLODING in price.

Incidentally, the first reported bitcoin transaction occurred in 2010 and involved the payment of 10,000 bitcoin for two pizzas by one Laszlo Hanyecz. That would make those pizzas the world's most expensive by far: $172,000,000, based on the latest closing price. I wonder if he had buyer's remorse or whether he thought they were worth it.
 
Hawkeye10 said:
What a Joke this BitCoin is.

Just another pump and dump pyramid scheme.
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I don't think it's a joke, but when college kids start telling their grandmothers to use their smartphones to "invest" in it, it's a mania.
 
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Ahlevah said:
I hope by "more interested" you mean you actually bought some, because if you were looking for a better speculation than bitcoin this would have been it: from ten bucks to $667 in less than a year.
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Stellar lumens are the new craze. ;)
 
DA60 said:
It is up almost 150% in about 2 months.

https://www.cryptocoinsnews.com/bitcoin-price/


Thoughts?
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So, let me get this straight, something created from nothing (The only "work" being done is the energy consumed to do increasingly complex math) that operates without any governance has value?

Frankly, I think the value is entirely built on peoples irrational expectations and understandings. I think it makes terrible money in the sense that it has much greater value as an investment than it does a medium of exchange.

It's value comes almost entirely from how people feel about it.

Being in IT I dabbled with the thought of mining BC's on my Dual Core servers I had in my basement I used to host VoIP programs 10 years ago and if I had I'd probably be filthy rich as I had access to lots of hardware for free, but in the end I don't think this ends well, but only time will tell.
 
And, just to point out, Bitcoin dropped 10% today. It just might be people taking profits, but it will be interesting to see if it starts a sell off panic.
 
csbrown28 said:
So, let me get this straight, something created from nothing (The only "work" being done is the energy consumed to do increasingly complex math) that operates without any governance has value?

Frankly, I think the value is entirely built on peoples irrational expectations and understandings. I think it makes terrible money in the sense that it has much greater value as an investment than it does a medium of exchange.

It's value comes almost entirely from how people feel about it.

Being in IT I dabbled with the thought of mining BC's on my Dual Core servers I had in my basement I used to host VoIP programs 10 years ago and if I had I'd probably be filthy rich as I had access to lots of hardware for free, but in the end I don't think this ends well, but only time will tell.
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FWIW... he's banned.
 
I bought $5K of Bitcoin back when it was worth $700 a coin.
 
Of course, bitcoin only has value as long as you don't accidentally delete your virtual wallet, forget your passwords, or throw away the hard drive on which you've stored the 7,500 bitcoin you've mined when doing some Spring cleaning:

James Howells, an IT worker from Newport, claims to have unintentionally dumped 7,500 bitcoin in mid-2013.

He is now planning to find them, but isn’t sure how, as he believes the hard drive he saved them to is currently buried in a landfill site.

The value of the cryptocurrency was around $130 at the time Howells claims to have thrown the hard drive away. It is currently worth $11,350 (£8,435).

That means the bitcoin stored on the hard drive would have been worth around $975,000 at the time the device is said to have been ditched. Today, they would be worth $85,125,000 (£63,284,463).

Man who ?threw away? bitcoin haul now worth over $80m wants to dig up landfill site | The Independent
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At the current price, 7,500 bitcoin would be worth northward of $100,000,000. That might be worth digging some holes. But then imagine excavating the landfill and finding the hard drive, only to discover the information on it was completely unrecoverable. :doh
 
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