Thanks for this highly informative post - I got a huge huge pleasure reading it all.
I'm bullish on cryptos. Very much so.
But even I was not saying loud short 4-5 month ago, that 10K is comin this year. Today its no brainer...
I'm bullish on Crypto as a whole, but not totally convinced BTC will be the dominant chain of the future. If we liken it the Hertz vs Avis.. there is always an Enterprise out there ready to take them out with better technology, speed, fees. etc.
The Global Bitcoin Price Pierces $10,000. This is incredible to many speculators as it been reported now
The global average bitcoin price briefly entered five-figure territory this morning, and CoinMarketCap reports that it rose as high as $10,106 before pulling back below this threshold. None of Bitcoin’s USD trading pairs have reached $10,000, although BTC/USD reached a new high of $9,941 on Bitfinex. However, demand has ratcheted up on Korean exchanges, and this demand has driven the bitcoin price as high as $11,000 on Bithumb, enabling the global bitcoin price to temporarily edge past $10,000. At present, bitcoin is priced at a global average of $9,985, which translates into a $166.8 billion market cap.
Great post! It all makes a lot of sense. BTC 100.000 USD will be 1.65 trillion market cap, about 20% of gold. Should be doable with more use cases and google searches than gold.
So since fundamentally and technically 100.000 is likely lets go for it!
Great post. I think of Bitcoin as similar to gold (the commodity). I buy periodically and hold. I do worry about both transaction speed and growing fees. But since I hold what I buy, I'm happy. I think of BCH as the potential "silver" bitcoin. Faster speeds and ridiculously low fees. It's made for business and personal transactions. I'm buying and holding BCH too in hopes thata it does half as well as Bitcoin core.
I would recommend either Litecoin or Vertcoin if you want a "silver" to bitcoin's gold. There is really no innovation in BCH, just a crude 8MB blocksize increase, no Segwit, and they still have the ASICBOOST exploit for miners.
I hope my tweet encouraged you to post here as well. Either way, thank you! I love seeing great content like this on the STEEM blockchain. :)
I just finished writing a post which referenced your blog. I would love to see your reply to my comment concerning DPOS and low-fee networks (BitShares, STEEM, EOS, etc).
Very well written and very informative. Thank you for the time you took to put this post together. Resteemed. While I could toss some FUD at this, it would be half-baked FUD with little substance, and completely undeserved. In it's infancy, Crypto needs love and caring attention, and your post illustrates all the positives of Bitcoin to help in that regard. I've myself argued as well that wealth transfer (and therefore power) has happened again and again through history, and that Crypto may be that vehicle to upset the applecart of power in our time. Again, great read and many thanks.
Congratulations @tracemayer, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Newbie account holder (accounts that hold between 0.01 and 0.1 Mega Vests). The total number of posts by newbie account holders during this period was 2301 and the total pending payments to posts in this category was $758.14. To see the full list of highest paid posts across all accounts categories, click here.
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Hi, i´m new in the cryptocurrency world, well, i´m some realistic, it is going to go up as the market decide, i think the Bitfinex exchange rumors are going to affect the Bitcoin ecosystem, while it becomes vyral we are going to watch a higher high, then a lower high, then a higher high, it si just a financial market cycle
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 101.49 SBD, based on the pending payout at the time the data was extracted.
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For most of teh people bitcoin as the most recognisable crypto coin it is still unknown - more than 7 billions of people have no idea about it. But they will must adopt to new sorts of money. Bitcoin will be the first choice for non experts. Current price is almost at the beginning so sky is limit. My opinion only...
Great post. The best thing about bitcoin and the whole crypto movement is that it is liberating economics in so many ways. I feel as though it is driving interest in economics as a whole. Personally I used to think of things like markets and trading as things for people in suits, until I started looking into cryptos for the technical intrigue.
Thank you, Trace. You've been an amazing guide for me over the last couple years, helping me understand the value of Bitcoin and the still unrealized, massive potential ahead of us. You provide solid context in an otherwise volatile media. I frequently come back to the 7 network effects, as well as your interviews on currency history and macroeconomics.
I take issues with statements like "The technological dominance of Bitcoin is unrivaled."
How is that the case? Technologically speaking Bitcoin is worse in almost every single account to other cryptocurrencies.
I'm generally on board with the whole argument for CRYPTO taking over the financial world. I've never seen a reasonable argument as to why it has to be Bitcoin.
And yes, the main use for Bitcoin TODAY is speculation. That's it. The only thing it's done better than other cryptos: Go up in price more.
Eviscerate your arguments on a centralized social platform (twitter) and not on a blockchain (Steem)?
Common @tracemayer !
Haha jk I'm just glad you put the main content on Steemit.
This is a well written article and I agree with you for the most part. I'm super bullish on BTC, BUT also several Alts 😎 including low fee blockchains like STEEM, BTS, & EOS. My crypto consulting biz is blowing up. Traditional investors now want in, and they need help navigating the crypto ecosystem.
On a side note I still remember our chats about BTC and reincarnation at Anarchapulco 2016. Good times!
VEry interesting article. I am new to crypto and still trying to get a handle on what it is
Based on what I have learned to date, I have put a toe in the water
Thank you for adding to my understanding
On the technical side, bitcoin's solution to its scalability issue, the "lightning network" will have a great influence both on it's rising value and the trust of it's users for sustainability. It will be as strong in the market until something else happen. I predict that it will indeed reach 10k on this December.
I think the mistake a lot of investors are making with BitCoin is comparing it to other relatively high-risk asset classes-- That's the problem though-- It's a completely new asset class. It's effectively the credit available to some agent in a trustless network derived from the ability of computers to do useful calculations. It's like some 4th dimension shit. It's difficult to determine what the future holds. It really has the potential to be THE disruptive technology of recent history.
I fetishize that soon you'll be able to go to a Sears or a local hardware store or whatever and pick up a blackbox which you plug into the wall that just mines or trades coins and generates money. You know as like a general appliance someone might have. It's a brave new world but the future's looking bright. Here's to you Satoshi Nakamoto-Sama! < 3
@tracemayer WOW what an incredibly well written article - Much of this went over my head, but your research and understanding are excellent - Thank you for sharing the history, current state, and your view on the future of Bitcoin - Much appreciated!
There are certainly more advanced and better governed blockchains in the run and some of them are rising faster than bitcoin. Do they have much intrinsic value or are they just riding on bitcoin's coat-tails? It is hard to know the answer for sure, but it makes sense to have a portfolio which is not dominated by bitcoin alone.
Did you send me a message via steemit chat ?. I just saw it. You invite me to join one ship with you. I am willing to join. But how is it? Or we continue the conversation through steemit chat. thanks.
Trace, I've been listening to your podcast for a few years now. I'm glad to see you on Steemit. Keep up the good work. This was a great article. Thanks for writing it and sharing it with others.
Great piece Trace. It is not the price tag that we are after, but as you have mentioned, how we need to reconsider the money as we know it. I could not agree more. You rock.
Thanks for this highly informative post - I got a huge huge pleasure reading it all.
I'm bullish on cryptos. Very much so.
But even I was not saying loud short 4-5 month ago, that 10K is comin this year. Today its no brainer...
$10K for Xmas
Could I ask for more from Santa?'
I second you and upvote this post by Mr. Mayer with all fours! This is a MUST read for all who think they know about BTC!
I'm bullish on Crypto as a whole, but not totally convinced BTC will be the dominant chain of the future. If we liken it the Hertz vs Avis.. there is always an Enterprise out there ready to take them out with better technology, speed, fees. etc.
The Global Bitcoin Price Pierces $10,000. This is incredible to many speculators as it been reported now
The global average bitcoin price briefly entered five-figure territory this morning, and CoinMarketCap reports that it rose as high as $10,106 before pulling back below this threshold. None of Bitcoin’s USD trading pairs have reached $10,000, although BTC/USD reached a new high of $9,941 on Bitfinex. However, demand has ratcheted up on Korean exchanges, and this demand has driven the bitcoin price as high as $11,000 on Bithumb, enabling the global bitcoin price to temporarily edge past $10,000. At present, bitcoin is priced at a global average of $9,985, which translates into a $166.8 billion market cap.
Great post! It all makes a lot of sense. BTC 100.000 USD will be 1.65 trillion market cap, about 20% of gold. Should be doable with more use cases and google searches than gold.
So since fundamentally and technically 100.000 is likely lets go for it!
HODL!!!!
Great read and post. We appreciate your insight and perspective and agree with the analysis...HODL $100,000K BTC. =) CHEERS!
@davidjonysteemit
I was just going to sell and wait for correction. but after reading your article I am not so sure any more :)
@davidjonysteemit
Great post. I think of Bitcoin as similar to gold (the commodity). I buy periodically and hold. I do worry about both transaction speed and growing fees. But since I hold what I buy, I'm happy. I think of BCH as the potential "silver" bitcoin. Faster speeds and ridiculously low fees. It's made for business and personal transactions. I'm buying and holding BCH too in hopes thata it does half as well as Bitcoin core.
I would recommend either Litecoin or Vertcoin if you want a "silver" to bitcoin's gold. There is really no innovation in BCH, just a crude 8MB blocksize increase, no Segwit, and they still have the ASICBOOST exploit for miners.
I hope my tweet encouraged you to post here as well. Either way, thank you! I love seeing great content like this on the STEEM blockchain. :)
I just finished writing a post which referenced your blog. I would love to see your reply to my comment concerning DPOS and low-fee networks (BitShares, STEEM, EOS, etc).
nice vd
@davidjonysteemit
Thanks for letting us know!
Very well written and very informative. Thank you for the time you took to put this post together. Resteemed. While I could toss some FUD at this, it would be half-baked FUD with little substance, and completely undeserved. In it's infancy, Crypto needs love and caring attention, and your post illustrates all the positives of Bitcoin to help in that regard. I've myself argued as well that wealth transfer (and therefore power) has happened again and again through history, and that Crypto may be that vehicle to upset the applecart of power in our time. Again, great read and many thanks.
Congratulations @tracemayer, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Newbie account holder (accounts that hold between 0.01 and 0.1 Mega Vests). The total number of posts by newbie account holders during this period was 2301 and the total pending payments to posts in this category was $758.14. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
@tracemayer Did you look at prices even once while you were on Vacation ???
No. No cell phone or Internet service.
And even better training was focusing the mind to not even think about Bitcoin; let alone its price.
I control my bitcoins; they do not control me. ;)
Thanks Trace for your response I am honored that you replied so quickly. Perfect !
Great post!!
bitcoin always up day by day
Great explanation and hodl is the onlyvway yo achieve financisl freefom.
Hi, i´m new in the cryptocurrency world, well, i´m some realistic, it is going to go up as the market decide, i think the Bitfinex exchange rumors are going to affect the Bitcoin ecosystem, while it becomes vyral we are going to watch a higher high, then a lower high, then a higher high, it si just a financial market cycle
i think BitCoin is not Better For This Genaration.
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 101.49 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
very good
@davidjonysteemit
A really great piece of work, you have me convinced the parabolic rise of BTC is not over!
For most of teh people bitcoin as the most recognisable crypto coin it is still unknown - more than 7 billions of people have no idea about it. But they will must adopt to new sorts of money. Bitcoin will be the first choice for non experts. Current price is almost at the beginning so sky is limit. My opinion only...
@davidjonysteemit
Good post, I am a photographer, it passes for my blog and sees my content, I hope that it should be of your taste, you have my vote :D greetings
Thanks for the Article, really like your perspective with regards to this sector.
Great post. The best thing about bitcoin and the whole crypto movement is that it is liberating economics in so many ways. I feel as though it is driving interest in economics as a whole. Personally I used to think of things like markets and trading as things for people in suits, until I started looking into cryptos for the technical intrigue.
Awesome post friend.
I like your all content because your content type and quality is so good.
best of luck go ahead friend.
Very nice article about the future of coins in our world!
I'm gonna be RICH, RICH I tell ya!
Thank you, Trace. You've been an amazing guide for me over the last couple years, helping me understand the value of Bitcoin and the still unrealized, massive potential ahead of us. You provide solid context in an otherwise volatile media. I frequently come back to the 7 network effects, as well as your interviews on currency history and macroeconomics.
Keep it coming!
Thanks so much; glad to be of useful service.
I take issues with statements like "The technological dominance of Bitcoin is unrivaled."
How is that the case? Technologically speaking Bitcoin is worse in almost every single account to other cryptocurrencies.
I'm generally on board with the whole argument for CRYPTO taking over the financial world. I've never seen a reasonable argument as to why it has to be Bitcoin.
And yes, the main use for Bitcoin TODAY is speculation. That's it. The only thing it's done better than other cryptos: Go up in price more.
nice post.
Go bitcoin......
But how will it ever become a legit payment if it doesnt have a value.
Eviscerate your arguments on a centralized social platform (twitter) and not on a blockchain (Steem)?
Common @tracemayer !
Haha jk I'm just glad you put the main content on Steemit.
This is a well written article and I agree with you for the most part. I'm super bullish on BTC, BUT also several Alts 😎 including low fee blockchains like STEEM, BTS, & EOS. My crypto consulting biz is blowing up. Traditional investors now want in, and they need help navigating the crypto ecosystem.
On a side note I still remember our chats about BTC and reincarnation at Anarchapulco 2016. Good times!
Thanks sir for your post. I agree with you. Cheers for 100000$/btc
VEry interesting article. I am new to crypto and still trying to get a handle on what it is
Based on what I have learned to date, I have put a toe in the water
Thank you for adding to my understanding
Brilliant analyse of the Bitcoin !
@tracemayer do you use Steem.Chat to ask people to join your team for 5 SDB?
Tour de force in this post. And one of the more humble - I told you so
s, that I have ever seen.
Well done.
its was awsome before 2 and 3 weeks but rightnoww its superb and super awsome 1btc=9500$ aproximately.
#OMG thats enough for me
On the technical side, bitcoin's solution to its scalability issue, the "lightning network" will have a great influence both on it's rising value and the trust of it's users for sustainability. It will be as strong in the market until something else happen. I predict that it will indeed reach 10k on this December.
I think the mistake a lot of investors are making with BitCoin is comparing it to other relatively high-risk asset classes-- That's the problem though-- It's a completely new asset class. It's effectively the credit available to some agent in a trustless network derived from the ability of computers to do useful calculations. It's like some 4th dimension shit. It's difficult to determine what the future holds. It really has the potential to be THE disruptive technology of recent history.
I fetishize that soon you'll be able to go to a Sears or a local hardware store or whatever and pick up a blackbox which you plug into the wall that just mines or trades coins and generates money. You know as like a general appliance someone might have. It's a brave new world but the future's looking bright. Here's to you Satoshi Nakamoto-Sama! < 3
nice
@tracemayer WOW what an incredibly well written article - Much of this went over my head, but your research and understanding are excellent - Thank you for sharing the history, current state, and your view on the future of Bitcoin - Much appreciated!
There are certainly more advanced and better governed blockchains in the run and some of them are rising faster than bitcoin. Do they have much intrinsic value or are they just riding on bitcoin's coat-tails? It is hard to know the answer for sure, but it makes sense to have a portfolio which is not dominated by bitcoin alone.
Great information. Thanks for posting
Did you send me a message via steemit chat ?. I just saw it. You invite me to join one ship with you. I am willing to join. But how is it? Or we continue the conversation through steemit chat. thanks.
Amazing read it was really informative and changed what I thought about bitcoin vs ethereum.
Trace, I've been listening to your podcast for a few years now. I'm glad to see you on Steemit. Keep up the good work. This was a great article. Thanks for writing it and sharing it with others.
What an interesting post... .. I'm standing for you
Bitcoin could 'easily' reach $40,000 by the end of 2018, hedge fund legend Novogratz says:
https://steemit.com/bitcoin/@yousafharoonkhan/bitcoin-could-easily-reach-usd40-000-by-the-end-of-2018-hedge-fund-legend-novogratz-says
Great piece Trace. It is not the price tag that we are after, but as you have mentioned, how we need to reconsider the money as we know it. I could not agree more. You rock.