Society's Child

Bitcoin breaks another record, this time hitting $10,000 - UPDATE: Now $11k!

RT
Wed, 29 Nov 2017 09:02 UTC

The record-breaking cryptocurrency bitcoin has broken through yet another milestone, topping $10,800 on Wednesday.

The cryptocurrency's value skyrocketed unprecedentedly over 2017, rising from below $1,000 on January 1. According to blockchain and cryptocurrency website Coindesk, as of 2:30 am GMT Wednesday, Bitcoin was trading at around $10,030.

Bitcoin later climbed past $10,000 on the major Luxembourg-based cryptocurrency trading platform BitStamp.

Bitcoin had already reached the $10,000 mark in smaller exchanges on Tuesday. Earlier this week, it hit the record level on South Korea's Bithumb, one of the world's biggest exchanges for cryptocurrencies. And in Zimbabwe, the lack of trust in the national currency has driven the price of Bitcoin to above $17,000 already.

Warnings from various investors about Bitcoin's price have been growing as well, with many claiming the cryptocurrency is a growing bubble that could burst any moment.

"Is it a fraud? No. But these bubbles tend to end in tears," Ken Griffin, founder of the $27 billion hedge fund Citadel, told CNBC in a recent interview.

Others, however, see the cryptocurrency as ushering in a new age in finance, with the potential to edge out the US dollar and other flat currencies.

"Bitcoin is a perfect currency, something that is utterly changing the global finance market and is putting banksters and the central banks out of business," RT's financial guru Max Keiser said.

Bitcoin has been proving the doomsayers wrong so far. Following a mid-November drop of over 30 percent, which some saw as the bubble starting to burst, it quickly regained all the losses and went right on growing.

However, most central banks still either don't recognize the cryptocurrency or don't regard it as an asset. However, it could be edging closer to official recognition as the Chicago Mercantile Exchange (CME) is interested in listing futures in the cryptocurrency. This has reportedly attracted the attention of Wall Street giant JP Morgan, which is now looking into facilitating Bitcoin futures trading for its clients, Bloomberg reported last week, citing its sources. That's despite the bank's CEO calling the cryptocurrency a "fraud."

Comment: Make that $11,000.

Reader Comments

Bezel Bub · 2017-11-29T14:34:20Z

Actually it is at 11.5K right now. I hope this site is not going to turn into a BitCon troll/shill like Zero Hedge did...it is why I dont post there any more...

jepen15 · 2019-06-04T02:08:41Z

Bitcoin and now in the price does not fall

Debby45 · 2019-06-04T19:51:50Z

According to recent forecasts, within a month Bitcoin will overcome the $ 12,000 bar. Now, it's time to buy Bitcoin, while it keeps at the level of $ 8000. I advise you to follow the growth of Bitcoin here [Link] Professional price forecasts. Following them, earned good

IncenDiary · 2019-06-04T22:02:39Z

HA! The time to buy bitcoin was from November until April , after which it spiked up. It's the selling season now, not the buying one. It's dipping a bit now, but still hovering around $8150, it may rise but I doubt it will go up that far before dipping again, as usual, but for the foreseeable future it's still Rocky Road - try buy/trade on the low points of the day, sell on the up-spikes, but honestly who has the time or money for 1 - 10% day trades profits - fees? Not me. Or you could lose by that much or more too .... if you're too trigger-happy. There's a reason it's easier to make money off of other people's money - No Fear! It's mad but true.

I seen so many ads and videos for "buy bitcoin NOW!" since the April Fools Spike , but quite honestly it's the opposite, poor Plebians. And now I see many non-Bitcoin users buying into Bitcoin, sigh, how to make a loss. But anyway, it would be cool to see it go up again, there's already been a rash of Scams and Runaway Admins from formerly 'reliable' and 'trusted' systems brought to the brink of unsustainability and beyond by the increase in Bitcoin price recently .... so at least that's nice to know. Pity about all the time and effort wasted, but... that's Bitcoin, enjoy!

I'm trying to find reliable ways to get bitcoin into dogecoin for cheap transfers, and storing it in other altcoins to spread the portfolio and prevent major losses on big events. Still a learning process... and getting scammed by shitcoins is so hard to avoid, sigh. Stick with the tried and tested major coins on FaucetHub and work your way down. Get into a good ICO watch website and join early, invest quickly, and withdraw regularly and often until you got your initial deposits back, before you even THINK about re-investing in ANYONE. Good luck! I just do all the free stuff and try to consolidate a plan where it all feeds and links into each other. Tricky. But if you're interested in making a whole 3c a day, go for it.

Oh Yeah, PS : Don't believe a single advert you ever see on bitcoin sites - always google name + review + scam and read, read, read. The 30 minutes you spend learning how and why and when and where and what scam they are, the better as compared to 30 days of working in something that ends up belly up - or worse, still alive but the admins are ghosts <-- those are the worst. Just try to get your payout, I dare you !

IncenDiary · 2019-06-27T04:51:33Z

I WAS WRONG!!! SELL, SELL, SELL QUICKLY !!! <--- Fool being wrong again? Look at the 2 year graph, it's building Mount Everest again, damnit.

Rowan Cocoan · 2019-06-27T05:39:11Z

IncenDiary Damn! Your intro looked so much like some troll's post, I bit.

R.C.

IncenDiary · 2019-06-27T05:49:16Z

Rowan Cocoan LOL! I see it now... Clickbait for the win. That's what we need to get right for SOTT, clickbait the hell outta everyone so they keep landing here (randomly on any article would be great) whether they want to or not Something I learnt from bitcoin, but have yet to apply properly, is persistence and repetition is the path of success. I've practically known something is a scam, but after seeing it's advert like 20 times, inevitably you click, ARG! Too late, they're already paid, haha! Now where's MY money? Damnit...

Like, SOTT should make their own kinda url forwarder/shortlink creator which makes people wait 5 - 10 secs on an intermediate page which , in bitcoin, is full of ads, but in this instance, would simply display a random sott page article instead while the counter times down before they can continue. Typically would need a captcha to prove humanity but do we care about that? Anyway, that's some fanciful thoughts right there. Have no idea what use it would be, except that maybe it will encode the pages and maybe bypass some filters in the short-term? Now that's some fanciful thinking.... *Sigh*

Rowan Cocoan · 2019-06-27T05:55:01Z

IncenDiary Oh, I only 'bit' to point the troll out for SOTT to delete, which I always do whenever I see one, and they're pretty good about getting rid of such. I have probably have done it thice this year.

Love yer thoughts for clickbait, though.

R.C.

Rowan Cocoan · 2019-06-27T05:56:02Z

Rowan Cocoan 'thrice' - and no, I don't speak with a lisp.

R.C.

IncenDiary · 2019-06-27T06:20:17Z

Rowan Cocoan LOL, nice one! Yeah, I did it too, but haven't seen any in a while.... calm before the storm maybe as 2020 approaches.

Good Optics · 2019-06-27T05:18:27Z

That's despite the bank's CEO calling the cryptocurrency a "fraud."

Hah, that's a kick . . . WTF do they call faux-dough fiat paper ?

Ain't no there there neither . . .

samirsardana · 2021-07-30T01:25:14Z

Y not use the BTC to aid Salvadoreans,in inward and outward remittances ?

It can also be used to settle import and export payments ,especially since bulk of the imports,are from the USA,and BTC is freely used in USA.

Transfers of funds from 1 BTC to the other,is in less than 1 second,and this is a legit transfer.Even if the transfer is to a money changer in Salvador,he can sell the BTC,and pay the recipient in cash with a cash receipt.

In 1 second,the price will not vary much,and the money changer has to have standing instructions,to sell all BTC inward remittances – in 3 second tranches.BTC or some other currency,can have an option to block the price for 3 seconds,and that quantity of BTC,will NOT BE traded for 3 seconds,and disclosed on the Crypto Exhange.Or in the alternative,some large BTC trader can offer a Put option for 3 seconds – which will be the cost for the remittance.

The savings in time and cost,will far exceed any disadvantage,and Salvadoreans will get more cash in hand,to spend and save.They could cash out in USD,or any other currency,at premium rates.

Salvadorean Money Changers and ADs,will become OBSOLETE soon.Salvadorean bankers,have to make profits from efficiencies, and NOT by gouging money from locals.dindooohindoo

With BTC as the EXCHANGE,the nation should invite PRC and others,to tap into Peak load power plants like Hydel and Geotherm al,and invite miners into Salvador,into SEZs with nil Taxes for 10 years,and guaranteed power supply.The Govtt will earn from power tarriffs,power wheeling,tax on power profits and lease charges,on the Miners

Salvador has 23 ACTIVE VOLCANOS AND SITS ON THE RING OF FIRE.THE POWER CANNOT BE USED IN SALVADOR,TO MAKE OR EXPORT ANYTHING.THE ONLY THING THAT CAN BE EXPORTED IS BTC,AND MADE BY FOREIGNERS IN SALVADOR !

IT IS A WIN-WIN !

This can be a new economic model for the nation.

ALSO, SALVADOR HAS MANY PORTS WITH GOOD DRAFTS,WHICH ARE VIABLE FOR RPP – ON RFO OR HSD – WHICH IS A SHIP WITH A POWER GENERATOR,WHICH WILL DROP ANCHOR AT THE PORT,AND GENERATE PEAK LOAD POWER -ON TAP !dindooohindoo

WITH LOW COST POWER SERVER FARMS CAN ALSO BE HOSTED IN SALVADOR !

“

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Society's Child

Bitcoin breaks another record, this time hitting $10,000 - UPDATE: Now $11k!

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