Bitcoin Is Over $7,200!

[Joe Flacco]

I think one of the reasons it seems like its such a bubble is because there was no period when it was all privately held like stocks. We dont get to participate in stocks until they ipo and go public but some have exponential increase in value while private.

 

[Elliott]

IPO....interesting.

Found this:

As of 2 February 2017, Nakamoto is believed to own up to roughly one million bitcoins which at today’s price of $1339.5 is worth around $1,339,150,000 USD.

https://www.quora.com/How-much-money-did-the-founder-of-bitcoin-make

So if you multiply by about 5, that would be about $6 billion to the IPO owner. Seems fair.

 

[timd354]

IPO....interesting.

Found this:

As of 2 February 2017, Nakamoto is believed to own up to roughly one million bitcoins which at today’s price of $1339.5 is worth around $1,339,150,000 USD.

https://www.quora.com/How-much-money-did-the-founder-of-bitcoin-make

So if you multiply by about 5, that would be about $6 billion to the IPO owner. Seems fair.

The interesting part is that nobody knows who or what Nakamoto is although there are claims that the NSA knows:

https://medium.com/cryptomuse/how-the-nsa-caught-satoshi-nakamoto-868affcef595

 

[Deleted member 134708]

Journalism is dead as usual and click bate [sic] ensues over journalism.

With that said, some of this is true. What's not true is the stolen part. The currency is actually "inaccessible" and requires a hard fork which isn't good.

All in all. Hey millennial, you prob just lost $300mm in a flash. Best case you hard fork and get a mulligan. This will lead to a very bad reputation as everything will be a "just kidding, I need my US Dixie et al back"
https://amp.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether

 

[timd354]

I think one of the reasons it seems like its such a bubble is because there was no period when it was all privately held like stocks. We dont get to participate in stocks until they ipo and go public but some have exponential increase in value while private.

Huh? Satoshi Nakamoto (whoever he is) managed to amass 1 million bitcoins....it seems like Satoshi was the entity that held it privately before the eventual release/ipo

 

[Joe Flacco]

Huh? Satoshi Nakamoto (whoever he is) managed to amass 1 million bitcoins....it seems like Satoshi was the entity that held it privately before the eventual release/ipo

What I am saying is that stocks have a lot of value creation before ipo and public participation begins after ipo. Like Facebook went though a valuation increase from zero to 100 billion before ipo and public participation. With Bitcoin public participation began when the value was nearly zero.

 

[timd354]

What I am saying is that stocks have a lot of value creation before ipo and public participation begins after ipo. Like Facebook went though a valuation increase from zero to 100 billion before ipo and public participation. With Bitcoin public participation began when the value was nearly zero.

I get what you are saying, but I am not sure whether that has anything whatsoever with what is going on with Bitcoin....I doubt it, but I could be wrong and you may right.....there is no way to know either way

 

[Joe Flacco]

Bitcoin cash going nuts. Following the narrative in crypto world is like watching a movie. A lot of drama. Crypto world is a crazy place.

 

[Joe Flacco]

Where is big ol boy

 

[Non Sequitur]

Bitcoin cash going nuts. Following the narrative in crypto world is like watching a movie. A lot of drama. Crypto world is a crazy place.

It's capitalism in its purest form.