Bitcoin breaks $1,000 level, highest in more than 3 years

Im sitting on 14 coins, that are left over from a long while back.... when it hits $1,100 i'm cashing half of them out

I reaaaaaaaaalllllllllllllllly should've bought at 380. I feel fucking retarded

Go to /biz/ and listen to them talk about this shit. You'll begin to get a feel for what investors sound like when making bubbles.

Real currencies don't have this much volatility btw. Eventually some cryptocurrencies will stabilize once they have a base of real-world commerce and all the day trading volume isn't just a bunch of gambling addicts in denial like now.

>>96408
But you can't just "cash out" if nobody buys them, right?

>>96387
Still don't have a "good feeling" about Bitcoin. I love the idea of crypto-currency and the privacy it affords. Until I can get a good handle on this product I decided to go this route:

https://www.goldmoney.com/

I purchase gold and have it placed in my account, payments can be made to merchants and individuals (in either gold or fiat cash) and when/if I cash-out I get my gold transferred directly to me. This I get. The backing to Bitcoin still perplexes me.

>>96516
The problem is not crypto-currency itself but the transition to total digital currency so the state can now watch and record every transaction you ever make under an all seeing eye.

>>96482
Yeah but it's not necessarily easy to do. It depends on who is your exchange now that MtGox screwed everything up a few years ago.

And then on top of that, the moment you transfer it into dollars or euros and put that money into a legit bank account, you owe taxes on it.

http://blogs.wsj.com/law/2016/11/21/bitcoin-exchange-extremely-concerned-with-irs-effort-to-identify-users/

I'll trust Bitcoin when I can withdraw it from a cash machine.

https://en.wikipedia.org/wiki/Bitcoin#Security

...and it's accepted at my local corner shop.

>>96558
My corner shop actually does have a bitcoin machine.

>>96517
Absolutely! This is one facet of a problem I wish the people at Gold Money would address. Even though my transactions are back by gold the government can still "look into" my affairs, because of electronic transfers.

Crash when?

>[insert currency here] breaks [insert number here] $ level, highest in more than [insert number here] years.
>time to sell ASAP

Update:
https://cointelegraph.com/news/china-warns-bitcoin-users-panic-sellers-drive-bitcoin-price-down-21-percent

>Bitcoin, which sustained an optimistic price rally over the past week, substantially declined in value within the last 24 hours, plummeting by 21 percent after the Chinese government issued a warning to Bitcoin users against potential risks.

>On Jan. 5, the People's Bank of China (PBOC) released a statement to emphasize their stance on Bitcoin reiterating that the government of China does not consider Bitcoin to be a currency. However, the central bank of China highlighted that Bitcoin is still a virtual currency or a virtual “good,” which is legally traded and used within the country.

>Local authorities within the country spoke to leading Bitcoin exchanges including BTCC, Huobi and OKCoin to discuss the status of regulatory frameworks and policies implemented for Bitcoin startups in the country. During their meeting, it was disclosed that the central bank simply asked the three exchanges to maintain operations in compliance with Chinese regulations and policies.

>Essentially, the Chinese government and central bank issued a sensible warning and statement to the general public, which basically entailed that the central bank nor any other government agencies in China are responsible for any potential risks that Bitcoin may or may not hold.
...

>>96387

http://fortune.com/2017/01/05/bitcoin-plunge-china-currency/

'Nuff said!

>>97624

I'm anxious to see where this goes.

>>97624
Oops! Did China do that?

>>96408
If $1100 USD is your sell point you won't be "...cashing half of them out" any time soon!

http://fortune.com/2017/01/05/bitcoin-plunge-china-currency/

eight years ago i was seriously considering buying $5000 of bitcoin. knowing nothing about it. i'm bipolar. i would have had to cash out my wal-mart stock. i decided against it but a couple years later i needed some money. i did put a bit into the house. housing never goes down.

>>97804
8 years ago they were less than a dollar each.
You'd be worth like 4 million dollars right now.