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Bitcoin has made a new all-time high price
- infocollector 2y agoTrump seems to be good for coin. He did promise to help deregulate crypto by firing the SEC chair. - https://www.axios.com/2024/07/27/trump-bitcoin-strategic-reserve-fire-gary-gensler-nashville https://www.axios.com/2024/07/27/trump-bitcoin-strategic-res...
- electriclove 2y agoThis reaction in bitcoin price is indeed because of Trump winning. He did say he would get rid of Gensler (SEC chair). Let’s see if he does :)
- yieldcrv 2y agoHe also said to want a strategic reserve of bitcoin, seeded by the currently seized amounts the US Govt already has, the rest needing to be acquired RFK was campaigning on the same Looked like pandering, but ignoring a “crypto vote” is not going to be a mistake future politicians make :) nobody likes politicians that treat them as a joke to be ignored. That other party is always late on this and keeps trying the same strategy of “othering” the people that are already American citizen voters. Didnt work this time, oops.
- cush 2y agoThis is exactly what has been holding retailers like Amazon and Walmart back
- chungus 2y agoAnybody have a reliable, up-to-date pc build guide, for a full node? I find very fragmented information everywhere. I get that "most pc's can run Bitcoin core" but I'd like some more detailed information.
- yuvadam 2y agoLiterally any PC can, I just finished a full initial sync, fully indexed, on a very lean box (Intel Pentium Silver, 16GB) in less than 24 hours. Assume ~700GB of disk space, and otherwise it's nothing. You can also run a pruned node if you have disk space limitations.
- EGreg 2y agoI thought Bitcoin and crypto is just fools gold, why get involved with blockchains and worst of all, proof of work?
- anonym29 2y agoI did not downvote you, but I want to respond to your question instead of taking the approach of weaponizing hn votes to simply suppress perspectives I disagree with, and I'd encourage my pro-crypto friends to do the same. We have to treat dissenters and critics with the same open-minded, good-faith, respectful dialogue we want them to offer us. I don't mean to suggest I'm not a biased partisan, but I will be a good-faith and respectful biased partisan. My views follow. Bitcoin is not fool's gold. Bitcoin is essentially a permissionless (third world citizens, political outcasts, people governments don't like are still able to use it without the government being able to cut them off), non-inflationary (inflation is everywhere and always a monetary phenomenon - the result of too many units of currency chasing too few goods and services, almost always a result of rampant currency debasement, not possible with bitcoin's hard-coded 21 million cap) universal (every country can trust it because no one country can control it) currency. The economic implications of these properties are incredibly powerful and difficult to overstate. This enables a framework for the working class to start saving in ways government cannot steal back from them through inflation. This enables trustless international trade settlement. This can prevent rising geopolitical tensions from currency wars over FIAT (backed by absolutely nothing, takes a a few key strokes to produce more) currency. Currently, it appears impossible to forge or fake Proof of Work, the way governments can forge and fake new currency into existence with a few keystrokes, which again, is the ultimate cause of inflation. Proof of Work is not without drawbacks, it is computationally expensive, but again, that's the point - it takes a ton of work to do all the SHA256 hashing to get hash results with dozens of leading zeroes - governments don't appear to be able to cheat at this yet. It's worth acknowledging in good faith that these computational costs have electrical load costs, which often do have carbon emitting costs, too. It's also worth acknowledging that there are alternative proposals to Proof of Work, such as Proof of Stake. While architecturally sound, PoS greatly simplifies and enables the rich to seize control of the whole system, and that would enable them to start stealing people's money. This is not theoretically impossible with Proof of Work, but Proof of Stake essentially streamlines that process, which is why a lot of folks like me distrust it. I'm not opposed to the idea of pondering other alternatives to proof of work, but they will be critically analyzed, and if people like me find issue with them as I do with PoS, there's a real good possibility that they'll keep preferring PoW like I do, too. Bitcoin is a truly decentralized, voluntarist system. Even if you seize control of the Bitcoin core wallet developer accounts, and start pushing major protocol changes, the Bitcoin community will most likely refuse to use your version, and keep the main chain intact. Bitcoin makes it fundamentally and systemically difficult to exercise force against the network to shove in changes that the actual users of Bitcoin do not want. The only way the network adopts changes is when the network likes them. Sometimes vocal minorities do play the intransigence card, and that's how we get forks like Bitcoin Cash, which anyone who wants to use is free to, but it's not Bitcoin, and the vocal minority interest hasn't fundamentally changed Bitcoin at all when this happens. Even bad actors who are secretly colluding in exercising force against the "general public" of bitcoin users don't get their way. If that's not the most tyranny-resistant form of an ethical, voluntary monetary system we can envision as a society, I don't know what is. Ultimately, this is all just my opinion, I don't claim to be some magic oracle of absolute truth, and I think we should be skeptical of anyone who says they are. I invite and accept all good-faith comments and criticism and want to open a dialogue for supporters, detractors, and neophytes alike. I hope we can all be kind, respectful, open-minded, and avoid name-calling and other childish gotchas.
- colesantiago 2y agoSoon this will all collapse, reaching all time highs isn't a good thing. Pyramid scheme at best, ponzi scheme at worst. I still don't know any use case for this other than speculation and people aren't even using it in the real world.
- drumttocs8 2y agoThere are 2 use cases: 1. Speculation 2. Converting to a real fiat with enforceability, like USD
- anonym29 2y agoA little further down in the comments here, another user (EGreg) posted: >I thought Bitcoin and crypto is just fools gold, why get involved with blockchains and worst of all, proof of work? I offered a detailed response there that goes over the real-world use case for Bitcoin other than speculation.
- ur-whale 2y ago> Soon this will all collapse, reaching all time highs isn't a good thing. Obligatory answers, take your pick: https://99bitcoins.com/bitcoin-obituaries/ https://99bitcoins.com/bitcoin-obituaries/ https://www.youtube.com/watch?v=XbZ8zDpX2Mg https://www.youtube.com/watch?v=XbZ8zDpX2Mg And there's of course, the famous yet mis-attributed Einstein quote about the definition of insanity.
- eterpstra 2y agoDon't buy bitcoin because it will crash... https://www.youtube.com/shorts/vII3xWrXzwY https://www.youtube.com/shorts/vII3xWrXzwY
- deleted 2y ago[deleted]
- Retric 2y agoOver its history more money has been pump into bitcoin than come out. This is an inherent from the way the system works because unlike stocks, bonds, property etc there’s zero inherent income generation from dividends, rent etc. Making it on average across all transactions past and future a bad investment as miners have real world expenses. The common argument is the current value makes up for this, but trying to actually liquidate that value would require new buyers. Eventually someone gets screwed, but hey the price might go up even more…
- exitb 2y agoSo I suppose people must use it all the time to buy goods and services. Right?
- cranberryturkey 2y agoI know i'm not your typically bitcoiner, I started investing in it at $4. but I pay all my part-time employees in it.
- asterix_pano 2y agowhy not use something that's better to transact (less or no fees and faster) ?
- cranberryturkey 2y agoactually i've been using ETH lately because its cheaper in fees, but I acquired a lot of BTC, so its kind of wash to transfer to ETH
- fallingsquirrel 2y agoSadly no, despite how long they've been around, it's pretty rare for people to use gold or index funds to buy goods and services. They're worthless.
- TkTech 2y agoSpeculators buying from speculators and hoping today isn't the day the hot potato explodes.
- wyager 2y agoHow long do you think it will take you to update your priors on this?
- MuffinFlavored 2y agoHow long has this been the case for gold roughly? Since the 1970s?
- firekvz 2y agohow you guys interpretate all this price swings with barely no trade volumen increase? i think the whole crypto narrative it's slowly dying, okay its ATH now, but yeah, we still got this huge elephant in the room called tether and well u know
- eterpstra 2y agoI don't know. What's going to happen with Tether?
- tartoran 2y agoIt's backed on air. Not even hot air.
- eterpstra 2y agoSo I should not believe attestations by third parties because they are all lies then? https://tether.to/en/transparency/?tab=reports https://tether.to/en/transparency/?tab=reports I guess that would be not much different than Moody's lying about debt ratings prior to 2008.
- firekvz 2y agonoone knows, but the real question is why any govt hasnt done any significative investigation or attack on tether? the only explanation i see (from the US pov) is that they actually collaborating in deeper investigations so they let it coexist, otherwise it makes no sense how legitimated it is knowing that it's pure fake money and it's not backed up at all bitcoin wont be real till tether dissapears
- chollida1 2y agoA few good trades if you want to juice a BTC/ETH holdings. GLDC and BITW are currently trading a deep discounts. GDLC has filed to convert into an ETF, at which point the discount to NAV will go away. The conversion could take up to another 200 days but you get BTC performance along with a 20% bump from the NAV flattening.
- giraffe_lady 2y agoWell yeah. It's a right wing project on the day after the monumental success of another far right project with which it is closely linked.
- butokai 2y agoI guess that might be it, but it's still very surprising to hear for people that were around the internet before or around the early 2000s
- rel_ic 2y agoWhat's the best way to sell ~50 BTC these days?
- devoutsalsa 2y agoHigh.
- highwaylights 2y agoNicely done.
- hanniabu 2y agoThere's enough liquidity on CEXs. But if you're really concerned you can reach out to their OTC desks.
- deleted 2y ago[deleted]
- InvaderFizz 2y agoPlace it as a sell order on the trading book, above the current price. That way you are a market maker, and pay no fees. 50BTC is small potatoes, you aren't going to move the market.
- crazywulf 2y ago[flagged]
- Hammad_khaan 2y agoA person mentioned that Bitcoin is heavily used for money laundering and similar activities. How authentic is this, and does it affect rates, like what's happening right now?
- fallingsquirrel 2y agohttps://mitsloan.mit.edu/sites/default/files/2022-06/Bitcoin-blockchain%20-%20AER.pdf https://mitsloan.mit.edu/sites/default/files/2022-06/Bitcoin... > illegal transactions, scams and gambling together make up less than 3% of volume.
- bryanlarsen 2y agoIn other words almost all of the actual transactions, since the other 97% is almost purely speculation.
- Hammad_khaan 2y ago[flagged]
- Hammad_khaan 2y agoHow? Any proof?
- fallingsquirrel 2y agoDid you read the paper? I'm not going to hold your hand.
- Hammad_khaan 2y agosorry my bad. I missed it completely
- jcfrei 2y agoIt has in dollar terms but it still hasn't on an inflation adjusted basis. One bitcoin today has less purchasing power than at its peak in November 2021. The dollar has lost about 12.5% since then so the true all time high would be around $79250.
- londons_explore 2y ago12.5% in the bitcoin world isn't much for something which often goes up or down by 12.5% in a single day.
- deleted 2y ago[deleted]
- asah 2y ago"so far"
- revskill 2y agoI wanna hear more from you.
- muzani 2y agoI have it charted against the Malaysian Ringgit. It was 347k BTC/MYR high this year, compared to 326k today.
- patrick0d 2y agothis should be the real headline. I am certain and beyond any doubt that I speak for all of us hackernews readers when I say that I have no frame of reference on the value of cryptocurrencies without comparing first with the Malaysian Ringgit
- throw2738489 2y agoCompare it to gold or silver. It has very stable price for centuries or even millennia, when compared to daily salary of skilled worker.
- deleted 2y ago[deleted]
- ldoughty 2y agoLooks like it was ~65k in November of 2021, and at near the current value (~74k) earlier this year. On a >4 year scale, yes, it's slowly going up, but keep in mind that if you bought at the 65k peak of November 2021, it took 2 1/2 more years to get back to that value. When Bitcoin hit 20k for the first time, it took another 3 years to get back to that value after it crashed 70% in the months following the 20k peak. I'm only suggesting that you think before purchasing on a peak. It certainly could keep going up, especially if it becomes deregulated in the US and more people can easily invest and more businesses can legally manipulate buyers.
- Timber-6539 2y agoIt's never been easier to invest in "Bitcoin" thanks to the ETFs which have been greenlight by the SEC since early this year.
- FabHK 2y agoIt's never been easier to "invest" in Bitcoin thanks to the ETFs which have been greenlight by the SEC since early this year. FTFY.
- m3kw9 2y agoTrump gonna create a national bitcoin reserve or what?
- arscynic 2y ago[dead]
- kragen 2y agoIs there a better link for this? For me this page says Bitcoin is now priced at 73,889,189.67 Argentine pesos, which is not even correct (they're using the government's fake exchange rate, which is not the one anyone buys or sells Bitcoin in) nor especially notable—peso inflation has produced "new all-time high prices" in Bitcoin in about half of all months over the last ten years. And tomorrow or next week the link will go to some other irrelevant Bitcoin price, even for people in the US.
- weird-eye-issue 2y agoHave you considered simply changing the currency on the page? Not sure why you have to make an entire comment about this when there's a dropdown right there
- kragen 2y agoBecause it's not a useful link. You might as well link to a Google search for "bitcoin price". A much better link would be something like https://www.coindesk.com/markets/2024/11/06/first-mover-americas-btc-hit-all-time-high-as-trump-closed-in-on-victory/ https://www.coindesk.com/markets/2024/11/06/first-mover-amer..., "BTC Hit All-Time High as Trump Closed In on Victory": > Bitcoin surpassed $75,000 during the early European morning as Donald Trump closed in on a return to the White House. The more pro-crypto candidate had claimed victories in swing states like North Carolina and Georgia, before Pennsylvania, viewed by many as the key to the election's outcome, moved in his favor as well. BTC was recently trading over $74,000, around 1.3% lower than its new all-time high of $75,363.66, according to Coindesk Indices data. The broader digital asset market, as measured by the CoinDesk 20 Index, is over 9% higher in the last 24 hours.
- weird-eye-issue 2y agoIt is in USD. Not sure what's wrong with your computer... and you
- kragen 2y ago
- karaterobot 2y agoNote that it hit a new all-time high last night, but it's been in the ~$70ks since last March. The election results may have pushed it over the top, but it's been way up for a while. The people who predicted it would collapse appear to have been wrong, and the people who predicted it would come back appear to be right. My own position was that it's so volatile that it will always be a roller coaster, which is why I don't invest in it anymore. I'm sure it'll crash again, and come back again, and I don't like drama when it comes to my money. But to me, this is more evidence against the Ponzi scheme narrative, which was always a lazy description that didn't match the history of the coin. BTC is something else entirely. Still scary to me, but something else.
- paulpauper 2y agoIt cannot even get to $100k despite endless predictions over the past 5+ years it would. Each cycle is getting subsequently smaller. If anything, it's reached the final stage in which the supply of new buyers to prop up the price, let alone new highs, is exhausted.
- tim333 2y agoGive it time. They've only recently launched the ETFs.
- rrrrrrrrrrrryan 2y agoI suspect it's going to become increasingly normalized for people to put some fraction of their retirement accounts (perhaps 3% - 10%) into crypto, now that there are ETFs. I'm not saying the supply of new money won't eventually get exhausted, but there's still a ton of untapped boomer wealth out there that has yet to flow in.
- karmakurtisaani 2y agoSo cryptos are rediscovering pension funds? Younger people financing retirement of older people.
- Pxtl 2y agoI assume this is because of Musk's love of crypto and his expected high position in Trump's new government, compared to the Democrats who wanted to regulate cryptocurrencies like any other security.
- kragen 2y agoIt's probably because the risk of a regulatory crackdown making it hard to sell Bitcoin in the next four years has just dropped substantially, which may be what you were saying.
- nfRfqX5n 2y agoWaited for today to take some profit
- sfjailbird 2y agoThis is good for bitcoin.
- Jabbs 2y agoOn top of a pro-bitcoin president and the ETF approvals there is a new commitment from MicroStrategy of $42B in bitcoin over the next 4 years I think you will see this headline a lot
- black_13 2y ago[dead]
- Geee 2y agoIt's weird that some people are still having the same arguments which were thoroughly discussed on bitcointalk.org 16 years ago. The discussion about its value were interesting when the price was $0 and people were speculating if it's possible that it gains any value at all. It was known that any value would kick off the bitcoin's inbuilt incentive mechanisms which would keep it running forever. A software that pays humans to run it; that was the genius behind it. When the price history is already established, the theoretical basis of value is irrelevant. People value things based on their valuation history; that's how it goes. It can be broken down somewhat, but the price history should already contain all the relevant information for investors. Bitcoin has now made it's way to the portfolios of the most boring financial institutions [0], which means that it is now firmly established itself as a part of the global financial system, and it's not going away. [0] https://finance.yahoo.com/news/over-600-financial-institutions-reveal-062215174.html https://finance.yahoo.com/news/over-600-financial-institutio...
- crazygringo 2y ago> People value things based on their valuation history; that's how it goes. It can be broken down somewhat, but the price history should already contain all the relevant information for investors. No, people value things based on their expected return, which is entirely future-looking. Which is why news -- facts that change our understanding of the future -- changes prices. Nobody values anything based on its history -- its price history is utterly irrelevant. I mean, some people might think they can get all the info from a price history, but those are the people who end up losing all their money.
- Geee 2y agoYet, the price history is what convinces people to buy it. The longer it goes, the more convincing it becomes. Gold has been valuable for thousands of years, which is why everyone knows it will keep being valuable. Valuations of collectibles and monetary assets, which don't change, are based on their historical price performance. The price history tells the story of how people buy and sell an asset with certain fundamental properties, and that's all the information needed to make an investment decision.
- specproc 2y agoI wouldn't underestimate the influence of crypto, and a desire to change leadership at regulators as a factor in the election. There was a fascinating piece doing the rounds here last month, crypto lobbying has been huge. [0] Just been chewing the fat with a buddy over dinner. Our crypto friends have done very well this week. [0] https://news.ycombinator.com/item?id=41765734 https://news.ycombinator.com/item?id=41765734
- bananapub 2y agoreally is depressing that Trump has brought along the absolute worst people - tech oligarchs, cryptcurrency enthusiasts (Bitcoin still uses more electricity than SPAIN, for < 10 transactions/second), racists, men and women who want to harm the health of women on a national (and international - the "Helms Amendment" still exists) scale. truly horrific what people will do to get less SEC regulation or a slightly lower CGT rate.
- npoc 2y agoHave you looked into how much power gold mining uses? Bitcoin vs Spain - I'd turn the power off to Spain every time. You are the brainwashed result of a system that is able to print as much money as it needs to brainwash you into believing that it should be allowed to print more.
- over_byte 2y agoBitcoin is dead
- sub7 2y agoI had a dream that Gensler wouldn't go quietly, and filed wire fraud/terrorism/laundering charges against Tether as his last stand. Then I realized that crypto has bought a majority of the house, senate and the presidency so these scammers are here to stay and our only hope is that they run out of suckers and start scamming each other
- maryscotts 2y ago[dead]
- Chengdavid 2y ago[dead]
- elijahkenshaw 2y ago[dead]