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Coinbuddy (OP)
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May 30, 2014, 07:24:07 PM |
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The price of bitcoin has increased above $600, rising over 7% in the past 24 hours and 34% in a month. The last time the price was over $600 was 21st March, during a gradual decline that eventually saw the value reach a low of $344 on 11th April. For the majority of this month, the price has ranged between around $418 and $453, beginning to rise above this level the week after the Bitcoin2014 conference in Amsterdam. The price of bitcoin topped $600 today. This week’s price increase follows the news that US satellite service provider DISH Network is to start accepting bitcoin payments later this year. DISH Network Corporation, which employs more than 30,000 people, has more than 14 million customers and reported revenue of $13.9bn in 2013. This makes it the largest company, to date, to accept bitcoin. Previously, online retailer Overstock was the largest, with revenue of $1.3bn in 2013. Bernie Han, executive vice president and chief operating officer at DISH, said: “Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals.” DISH has chosen Coinbase as the company that will process its bitcoin payments. Coinbase claims to currently have around 32,000 businesses on its books, with competitor BitPay citing a similar figure. Courtesy Link ' http://www.coindesk.com/bitcoin-price-crosses-600-rising-34-one-month/' |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Nathonas
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May 30, 2014, 07:31:18 PM |
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I just woke up and looked at bitcoinwisdom to see that big run up to 600. I wonder what caused that?
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All we have to decide is what to do with the time that is given us.
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Melbustus
Legendary
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Activity: 1722
Merit: 1003
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May 30, 2014, 07:35:54 PM |
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Nice article, but it's about the long-term prospect. The longer bitcoin continues to simply exist, the more people see it's potential as an asset-class alongside (or in place of) gold....with a huge kicker; namely that it's *actually* useful as money in our modern, electronic, internet-centric, globally-connected economy!
There are probably lots of people who see the above potential, but who also recognize simply that bitcoin is a new technology, and there is therefore some existential risk to it. But as noted, the longer it simply exists and continues to work, the more those concerns take a back seat in people's mind to the asymmetric value prop that bitcoin offers; ie, either a >>10x rise from here, or drop to 0. As time goes by, the probability of the latter goes down, so the position becomes more +EV for more people's risk profiles.
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Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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LiteCoinGuy
Legendary
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Activity: 1148
Merit: 1010
In Satoshi I Trust
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May 30, 2014, 08:01:07 PM |
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good "old" bitcoin times are back  |
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Coinbuddy (OP)
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May 30, 2014, 08:04:03 PM |
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Bitcoin Back To Rock On
#BBTRO
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Zyborg
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May 30, 2014, 08:24:36 PM |
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Just lovely to see the price rise once again, was mind numbing watching it at 400 for so long. Let's hope it keeps rising.  |
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BitCoinDream
Legendary
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Activity: 2324
Merit: 1204
The revolution will be digital
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May 30, 2014, 08:33:27 PM |
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This graph has again proved itself to be true...  |
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Zyborg
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May 30, 2014, 08:35:57 PM |
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This graph has again proved itself to be true... 1500 before next crash then? Sweet. |
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Bit_Happy
Legendary
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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May 30, 2014, 08:47:24 PM |
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I just woke up and looked at bitcoinwisdom to see that big run up to 600. I wonder what caused that?
what caused that?More buyers than sellers!  Seriously, there has been a real flood of good news the last ~6 weeks. These are very exciting times for Bicoin. (For example) Dish Network accepting Bitcoin was a recent major development.  |
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zimmah
Legendary
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Activity: 1106
Merit: 1005
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May 30, 2014, 09:28:25 PM |
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I just woke up and looked at bitcoinwisdom to see that big run up to 600. I wonder what caused that?
\ there's not always a cause, just regular market momentum. It was bound to happen sooner or later |
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helmax
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May 30, 2014, 09:49:07 PM |
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someone activate the bot |
looking job
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micheline
Newbie
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Activity: 42
Merit: 0
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May 30, 2014, 10:45:20 PM |
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I already asked myself what could have caused the recent rise. Thanks for pointing me to that article. DISH is a big company. It feels like bitcoin is really approaching serious adoption.
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rext
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May 30, 2014, 10:48:43 PM |
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the bull rushhh |
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helmax
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May 30, 2014, 10:49:53 PM |
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ok dish is big company
but they not start accept nothing bahh
baidu is big company and also mega.co.nz
and now both not support bitcoin
its bot
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looking job
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Ron~Popeil
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May 30, 2014, 11:01:51 PM |
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As always it is a combination of things. It was way undervalued after GOX and has corrected for that. Now we are seeing more adoption and on a large scale so the price will reflect that.
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tzortz
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May 30, 2014, 11:35:22 PM |
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When there is a rise , there is a fall.
Be careful.
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All is Mine!
1H7LUdfx9AFTMSXPsCBror3RDk57zgnc2R
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DuckDuckMoose
Newbie
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Activity: 8
Merit: 0
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May 30, 2014, 11:39:31 PM |
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When there is a rise , there is a fall.
Be careful.
Let's just hope the fall won't break out legs. |
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tzortz
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May 30, 2014, 11:46:36 PM |
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Surely not, but most of us get excited and buy with all their fiat Btc at any price hoping to get rich.
Just be careful when buying.
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All is Mine!
1H7LUdfx9AFTMSXPsCBror3RDk57zgnc2R
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spazzdla
Legendary
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Activity: 1722
Merit: 1000
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May 31, 2014, 01:54:25 AM |
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We are about here IMO  |
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