Bitcoin Price Tracking & Discussion -- 2017

**MeanPeopleSuck** · 10-30-17, 04:59 AM

Originally posted by USCPHILLYGUY

So assuming your Bitcoin prices will fluctuate even if having this bitpay card?

If I'm understanding the question right, then the answer's no: once you transfer the money to the Bitpay card, then it's in dollars. The exchange rate is whatever the highest bid is at Bitstamp the second you press the button "Add Funds."

But if you're thinking BTC's likely to keep going up and don't want to transfer much into dollars on the card, that's fine: just keep basically $0 on the card until just before you're going to buy something, then move only that amount of money onto the card.

A Real Life Example

MPS gf: "MPS, is it OK if I go shopping with Carrie and Jen this Saturday?"

MPS: "OK? It's better than OK; I'll be left in peace with crypto and college football!"

MPS gf, now smiling: "Um, well, yeah, I wasn't actually asking permission to see my friends. This isn't 1950. But, [and here her smile turns into that cute, imploring, "I'm young and beautiful and vulnerable, what ever would happen to me in an emergency without the protection of money?" look, which I have never been able to resist. Of course, she knows this.

MPS: "Oh, right, the card. Yeah, sure, go crazy. How much should I put on it?"

MPS gf: "Oh baby, don't worry, I'll take care of that. I know you've got a ton of work tonight."

[the sound of the foyer drawer opening and my wallet being pillaged for its Bitpay card.]

2 weeks later, after a routine review of my Bitpay transactions, down at The Parrot, my local bar, w/ a couple friends

MPS: "700 phucking dollars? How the phuck is that even possible? All she bought was some clothes and shoes and sh!t. Boys, I'll tell you one thing: that cute, eyes wide, vulnerable pose thing she does is never gonna work on me again!
[laughter from MPS' mates, as they've heard that claim before].

**MeanPeopleSuck** · 10-30-17, 05:19 AM

Originally posted by LVHerbie

What about the mining fees? The current high fees makes using BTC for small purchases not practical.

https://cointelegraph.com/news/bitco...tecoin-benefit

That's a very good point, and something we're working on: since the implementation of the block efficiency improvement called SegWit, fees have actually been coming down. Also, there's another hard fork coming Nov 15th which will almost certainly lower BTC's fees again. Finally, one of the biggest reasons for the fees explosion was that the infrastructure wasn't built for a million transactions a day. Presumably, getting some retailers to join us would cause an expansion of that infrastructure and an easing of congestion.

But basically the fees will probably have to be paid by the shoppers, but how many will even notice a dollar or so? It's the kind of thing that gets snuck into the Taxes section and not seen.

**USCPHILLYGUY** · 10-30-17, 06:34 AM

6193

MPS thank you for the info. Makes perfect sense

**jjgold** · 10-30-17, 08:06 AM

most coins going nowhere

Ether the second biggest one also stagnant

**Bostongambler** · 10-30-17, 08:53 AM

6,100 and change.

**Pauulzcappin** · 10-30-17, 01:53 PM

Should be a correction soon, if you are out should wait until around 5.6

**MeanPeopleSuck** · 10-30-17, 02:59 PM

Originally posted by USCPHILLYGUY

6193

MPS thank you for the info. Makes perfect sense

Anytime, my friend! It's a team effort.

**MeanPeopleSuck** · 10-30-17, 03:10 PM

FWIW, and always subject to the "crypto often makes fools of us all" mantra:

IMHO, if you were looking for a buy in price before the Nov 15th BT2 hard fork, today might be the best price you're going to see.

Nobody remembers it because it happened 6 weeks ago -- an eternity in crypto time -- but today China's 2 largest (and last) exchanges are closing, forcing their clients into a really hard decision: sell today or hold, but if they hold it could be years or longer before they're able to change their minds and sell (the ultimate HODL). Tons of them will sell, which is probably why BTC's been flirting w/ 6k today instead of 6200 or whatever it was yesterday.

**shocka1212** · 10-31-17, 09:25 AM

Let's fuxkin go!!!

**USCPHILLYGUY** · 10-31-17, 09:48 AM

6388

amazing. The $2000 in Bitcoin I purchased just from BET POINTS is now worth about $2700 in 6 weeks. Men this is FREE MONEY. Let me here again why any US poster isn't a pro

**shocka1212** · 10-31-17, 10:27 AM

6410... diks hard

**JAKEPEAVY21** · 10-31-17, 10:40 AM

**USCPHILLYGUY** · 11-01-17, 04:51 AM

6530

**jjgold** · 11-01-17, 05:07 AM

**JAKEPEAVY21** · 11-01-17, 07:28 AM

**Sam Odom** · 11-01-17, 11:42 AM

buckle your seat-belts

**USCPHILLYGUY** · 11-01-17, 11:46 AM

Originally posted by Sam Odom

buckle your seat-belts

Sammy what are you saying here

**Sam Odom** · 11-01-17, 11:50 AM

good btc news most everywhere

am afraid to make a forecast

**Sam Odom** · 11-01-17, 11:54 AM

"The status of bitcoin as a legitimate financial asset may be rising even faster than its price."

Bloomberg News

**swordsandtequila** · 11-01-17, 12:09 PM

**shocka1212** · 11-01-17, 02:33 PM

when is the next fork?

**shocka1212** · 11-01-17, 04:01 PM

Originally posted by shocka1212

when is the next fork?

Just got the email.. next fork is nov 16th in case anyone was wondering

**USCPHILLYGUY** · 11-01-17, 06:14 PM

6657

**shocka1212** · 11-01-17, 07:23 PM

6772.. holy crap

**shocka1212** · 11-01-17, 07:31 PM

We're going to be at 7k by the fork on the 16th

**MeanPeopleSuck** · 11-01-17, 07:37 PM

What do bitcoin and honey badgers have in common? They don't give a F*CK!

"Yeah, I just broke through 6000, but I don't give a F*CK! I'm charging straight at 7000!"

**Outsider626** · 11-01-17, 07:39 PM

I was cautious when some finance guy predicted that the price of Bitcoin will rise to 10k before the new year. Now i think he might be right.

**MeanPeopleSuck** · 11-01-17, 07:42 PM

Originally posted by shocka1212

We're going to be at 7k by the fork on the 16th

The fork actually takes place on block 494,784, so it's maybe better to say, "on or around Nov 16."

**swordsandtequila** · 11-01-17, 07:51 PM

Sell just prior to the fork or hold for btc2, that is the question...

**shocka1212** · 11-01-17, 07:52 PM

**shocka1212** · 11-01-17, 07:52 PM

Originally posted by swordsandtequila

Sell just prior to the fork or hold for btc2, that is the question...

hold. buy more 12 hours after the fork

**Outsider626** · 11-01-17, 07:54 PM

6,822$

**swordsandtequila** · 11-01-17, 07:58 PM

Originally posted by shocka1212

hold. buy more 12 hours after the fork

That's my first inclination, like the idea of free $. Small position for me, learning on the fly. Cheers to all for the useful information

**shocka1212** · 11-01-17, 08:02 PM

Originally posted by swordsandtequila

That's my first inclination, like the idea of free $. Small position for me, learning on the fly. Cheers to all for the useful information

not really doing anything else with the $$ in my bank account so its a pretty good proposition at the moment. its not even will it hit 10k anymore, its when. even if you have to pay taxes on it, its better than not growing your money.. or atleast thats my take on it..

**Outsider626** · 11-01-17, 08:18 PM

Originally posted by shocka1212

not really doing anything else with the $$ in my bank account so its a pretty good proposition at the moment. its not even will it hit 10k anymore, its when. even if you have to pay taxes on it, its better than not growing your money.. or atleast thats my take on it..

What if the bubble burst to 0? Or you think it's not possible?