I’ve been following Bitcoin latest news and developments lately. Look like Bitcoin (BTC) price been stable lately at $1000. There were many prediction few weeks ago that Bitcoin will end 2017 at $2000, some even say at $3000 by end of 2017. For me, I don’t know, but a wild guess $2500 is not impossible based on historical trend.
News about Bitcoin does impact Bitcoin price now a day, although it’s still volatile. Volatile is good for day trading that’s for sure, however it’s not that easy to predict if it’s going to up or down next day. Knowing the news ahead of time might help, but sometime Bitcoin just immune the news whether it’s bad or good doesn’t impact Bitcoin much.
I’m holding some Bitcoin, although sold a bunch just barely enough to cover my next few years retirement at age 40, yeah, but if Bitcoin go up to $2k or $3k then it will sure help me greatly to continue my retirement.
bitcoin stabilized at $1000 for how long?
It has been great for the last few weeks with Bitcoin price momentum going upward in the positive side daily. When will it end? or is this another bubble to $1000 mark and then pop again down to the $200? No one know.
As far as I know, and I’ve been following it daily. I feel so itchy to jump when it was around $300 last week knowing that it used to be in the $220 few weeks ago. So I thought maybe $300 is all it will get and will go back down again, but apparently not.
The surge in Bitcoin price appear to be from the help of China Bitcoin trading. In addition to Europe decided not to tax Bitcoin VAT that is. So maybe the news from Europe and high surge of Bitcoin trading in China contributes to this upward trend in price.
The thing about Bitcoin is that it’s unpredictable, however lately technology has been looking into the the Blockchain side of Bitcoin. Maybe Bitcoin price is one thing, but Blockchain might be another technology where merchants can adopt or newer technology can use Blockchain for something else.
The way it work as I know it. Once all the Bitcoin is mined, all the hardware to mine Bitcoin will be useless. This is when all the merchants will be the primarily dominating the Bitcoin network transactions Blockchain. So maybe by the year 2040 or somewhere there we will see the world will be using Bitcoin as a single currency.
Yesterday October 12th Bitcoin price a little shy from 250. Today October 13th 2015, Bitcoin reaches $250 that we haven’t seen for weeks. A few months ago Bitcoin price was at $340, it brought a lot of joy, but then it didn’t last long.
Speculation earlier this year, Bitcoin will reach $500 by end of 2016. Well, that for sure is a possibility, and I hope it does because I do have some Bitcoin saving 🙂 $500 will not make me rich, but at least I will have more money than now. Even if Bitcoin reached $1000 again, I wouldn’t be rich either because I didn’t save any of my Bitcoin much until the price dropped and I don’t see the point of mining and selling.
Yes, I am one of the early Bitcoin mining people, mine Bitcoin with a computer CPU, gradually went on to GPU and then to ASIC, today it’s a total loss if anyone even mine Bitcoin. Bitcoin now a day are for commercial, even if you have free electricity, it’s not going to help much.
Now going back to the price of Bitcoin have a good start this week, the question is, will it hold? I don’t think so to be honest with you. I want to be optimistic, but I’ve went through this path before. Most likely it will hang around $250 then start to drop back to the $240, however I’m very optimistic that Bitcoin price will not go down to $100 as I think that will be the end of Bitcoin if no one jump in and buy Bitcoin at such low price. I don’t think that will happen because a lot of future technology development designed for Bitcoin, or have Bitcoin in mind.
There has been some hacking going on. Few days ago, T-Mobile especially from UK, data were compromised by hackers, some US based customers might be impacted also.
Then today, just now I’ve received an email from Scottrade, which I have a stock trading account there for a while, but not active for a while. It’s great that these companies are notifying the customers, but I think they could done better to prevent being hacked, data leakage and so on. Especially for Scottrade and any financial institution.
I haven’t read the detail of the hack, but I think it got to be some kind of linkage to insider job, tips, and so on. The hack could be from a team of hackers, utilizing all their social hacking knowledge and skills to obtain information for hack, a large well organized team maybe.
I have not heard of the “Anonymous” group hackers for a while, did they break up? or just have a new name. I thought they declared war against the ISIS? haven’t seen much activities on that.
Well, look like Newegg.com have a new bank I think, that they work with to get new applicants for credit to take advantage of the 6 or 12 months special financing. Meaning you buy and split the payment into 6 or 12 months to pay off. I think it’s a great offer 🙂
In the past, I used to purchase Bitcoin mining hardware equipment such as GPU to mine Bitcoin then until Bitcoin crashed back to $200, everyone jump off the train and sold all there hardware, myself included. I think I paid off all my hardware already.
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