Category: Cryptocurrency

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Bitcoin is a bubble waiting to burst

sudshr47 November 29, 2017

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For those of us with long memories and some sense of history, Bitcoin’s recent meteoric rise is both thrilling and terrifying. It has all the earmarks of a bubble.

Bitcoin Bubble. The accidental alliteration makes it more attractive, but no more or less true. It’s all the similarities with previous economic bubbles going back more than a century that convinces us: This can’t last.

In the space of a few short days, the cryptocurrency, which people mine on their powerful computers, has gained thousands of dollars of fresh value. A year-long Bitcoin value chart is the extreme version of a hockey stick curve.  Read more…

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Cool, so people are selling their houses in exchange for Bitcoin now

sudshr47 November 29, 2017

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Everyone is trying to get their hands on some Bitcoin.

For home sellers in Australia, the rising value of the cryptocurrency presents an interesting money-making opportunity, but also a clever marketing tactic.

Owner Rob Gadd is selling his five bedroom house in Melbourne, and he’s willing to accept part of the house payment in Bitcoin, with the rest to be paid in cash.

“It’s always nice to be at the trailblazing end of something that hasn’t been done before,” he told 7 News.

The owner of a house in Melbourne’s outer east says he’ll accept Bitcoin for part of the sale, but still wants the bulk in cold, hard cashpic.twitter.com/bYzsQXZRqr

— 7 News Melbourne (@7NewsMelbourne) November 27, 2017 Read more…

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Bitcoin is over $9,000

sudshr47 November 26, 2017

 Well, it’s over $9,000. Even as you recoup from attempting to explain Bitcoin to your family over the Thanksgiving dinner table, the value of the cryptocurrency is growing at an increasingly hefty pace. As of the time of this writing, the value of a single Bitcoin was above $9,143, climbing nearly 6 points in the past 24 hours. At a certain point, news of clearing these incremental… Read More

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How to talk to your Mom and Dad about Bitcoin on Thanksgiving

sudshr47 November 22, 2017

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“What is this Bitcoin thing?” says your mother as she passes you a hefty bowl of mashed sweet potatoes.

Dad pauses, mid-nibble on a turkey leg to chime in, “Yeah, is that real money?”

Oh God, they want to have The Talk.

Don’t be surprised if you’re confronted with similar questions as you and millions of other digitally savvy millennials and Gen Zers trudge back home for the annual Thanksgiving Day meal.

It’s a time to reconnect with family and for family to try and pick your brain about all the culture and new-fangled technology they still don’t understand. Read more…

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Bitcoin is about to grow even bigger, using your money (and you won’t even know it)

sudshr47 November 20, 2017

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First they ignore you, then they laugh at you, then they fight you, then they invest in you.

That’s the scene that bitcoin investors and enthusiasts are facing. After years as an underground digital currency and a running joke in the world of finance, bitcoin is suddenly attracting attention from the people who once called it a scam: the big institutions of finance, who collectively control trillions of dollars.

And it might not even be a matter of “if.” It’s now just a matter of “when.”

“The institutionalization of this space is coming. It’s coming pretty quick,” former hedge fund manager Michael Novogratz said at a recent conference.  Read more…

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Bitcoin continues to crush it, breaks through $8,200

sudshr47 November 20, 2017

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Even though it’s had an incredibly tumultuous year, Bitcoin has once again defied the naysayers and is currently trading at an all time high of $8,200, with a market cap of over $137 billion. 

The price rise comes shortly after a cancelled fork and the first signs that big, institutional investors are finally caving in and joining the bandwagon. 

The cryptocurrency was once touted as the new digital cash but is currently mostly viewed as a store of value—akin to a digital gold. It surpassed $6,000 in October and $7,000 in early November.  Read more…

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