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what happens if bitcoin hits 10000

When the calendar changes to , it's very possible that will go down as the year of the cryptocurrency. This past weekend, bitcoin, the kingpin of all digital currencies, logged yet another new all-time high. By comparison, the aggregate value of the remaining 1, cryptocurrencies combined, as of Oct. So, what catalysts are the likeliest to push bitcoin to new heights? My suspicion is a mixture of four tangible and emotional factors will play a role.

The most tangible and fundamental catalyst behind the rise in bitcoin is the potential that blockchain brings to the table. Blockchain is the digital and decentralized ledger that records all bitcoin transactions without the need for a financial intermediary.

Since blockchains are usually open source, altering transaction data without having someone else see it would be nearly impossible. This added security is what could make blockchain particularly attractive in future peer-to-peer and business-to-business transactions. While there are plenty of criticisms of bitcoin's valuation, few industry pundits are questioning the value of what blockchain could bring to the table. Recently, bitcoin implemented a software upgrade to its blockchain that wound up taking some information off its blockchain to boost capacity.

At the same time, transaction settlements have been sped up, and transaction fees have been lowered. This upgrade is squarely targeted at luring in enterprises.

Another tangible catalyst for bitcoin has been the falling U. Recently, the U. While a weaker dollar can boost U. When the U. After all, gold has been used as a currency for centuries. Of late, though, bitcoin has also been used as a safe-haven asset.

Protocols limit the number of bitcoins that can be mined to 21 million, making it somewhat of a "finite" resource, too. If the dollar remains weak, it's certainly plausible that bitcoin pushes higher as investors seek its perceived safety. A number of bitcoin's investors are particularly excited about bitcoin as a mode of payment.

In , a handful of brand-name companies began accepting bitcoin, and since that time we've seen dozens of other merchants join in. While it's still difficult to live your life by solely paying for things with bitcoin, consumers' ability to use digital currencies to pay for goods and services is improving.

For example, specialty services are finding success acting as an intermediary between marijuana retailers and card-carrying consumers. Since banks want nothing to do with cannabis-based businesses, middleman-type companies have popped up that allow consumers to purchase bitcoin with their credit or debit card, and then use that bitcoin to buy cannabis. In turn, cannabis businesses can then turn that bitcoin back into cash for a fee. If more businesses jump onboard bitcoin as a payment platform, it could head even higher.

Finally, emotions are likely to play a role in pushing bitcoin higher. The scary thing about such a scenario is that the "don't miss the boat" thesis can draw in novice investors who have little or no understanding of what bitcoin is, or what it's trying to accomplish as a currency.

There are also very few institutional investors currently willing to dabble in bitcoin. Yet the bulk of bitcoin's investment activity is coming from retail investors who are far more prone to trade on emotion than institutional investors are.

To begin with, regulation is a double-edged sword for bitcoin. Though an increase in regulation would, in a way, validate bitcoin as a legal or acceptable form of tender, it could also cut off opportunities in various countries.

China also announced that it'd be shuddering its domestic cryptocurrency exchanges. Second, there's no guarantee that blockchain will be adopted as rapidly as some investors believe, or that bitcoin's blockchain will be preferred among businesses. Most virtual currencies have an underlying blockchain, and we're nearing 1, total virtual currencies.

That's a lot of potential competition, and the barrier to entry in terms of developing blockchain is exceptionally low. Bitcoin's blockchain isn't guaranteed success by any means. The third and final factor that concerns me is that investors are focused more on bitcoin as a mode of payment than for its blockchain. Although there's no guarantee that bitcoin's blockchain will be successful, its blockchain is where the true value of this cryptocurrency lies. There are no "assets" that back up the value of bitcoin, nor any government backing.

This is what I believe makes bitcoin such a dangerous investment, and why it shouldn't be anywhere near your portfolio. Oct 26, at AM. You'll often find him writing about Obamacare, marijuana, drug and device development, Social Security, taxes, retirement issues and general macroeconomic topics of interest.

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what happens if bitcoin hits 10000

What Happens When the Last Bitcoin is Mined?

Dashboard Market cap News. Apart from testicle consumption, here are some thoughts Many long term investors celebrate by taking profits, a price ceiling haappens. Alternatively a whale cashes into a bitcoin cash again and we don't see 10k again for ages days. Recent news.

what happens if bitcoin hits 10000

Though bitcoin may rally further, it could just as easily implode.

Dashboard Market cap News. Apart from testicle consumption, here are some thoughts Many long term investors celebrate by taking profits, a price ceiling develops.

Alternatively a whale cashes into a bitcoin cash again and we don't see 10k again for ages days. Recent news. Is the digital currency bircoin out of its recent malaise? A handy satoshi stacking calculator to show you how many Bitcoin BTC you can accumulate, and what it can amount to in the future! One of the local kids in El Salvador being paid in Lightning for his community work.

This is cool AF! What is the true set of differences between Proof of Work, and Proof of Stake? What are the engineering mindsets behind uf both, and which is built explicitly to survive in the worst-case scenarios? This article will focus on happebs two what happens if bitcoin hits 10000 popular exchanges - Binance and Coinbase. Our goal is to compare these two exchanges to determine haopens exchange is the most popular cryptocurrency exchange Yits media giants are no longer opposing the power of decentralization and bitcoin technology.

Instead, they are embracing it to solve the problems of a. In the earliest days of Bitcoin, once the genesis block had been mined on Jan 3,Nakamoto sent messages back and forth with people such as Hal Finney, Mike Hearn, and Hit Andresen discussing t Since then, you have been reading hjts from Bitcoiners all over the placeā€¦.

ErisX has launched its physically-settled Bitcoin futures contracts pitching a direct competition to Bakkt. ErisX plans to offer both - daily and monthly contracts to its users. In at the peak of the financial crisis, Riksbank was what happens if bitcoin hits 10000 first central In a bitocin research paper, a pair of mathematicians demonstrate that fewer Bitcoin confirmations might still be enough to avoid double-spend attacks. The cryptocurrency exchange is being sued by an ex-employee who alleges the company unfairly fired him for raising serious issues with its business practices.

The price of Bitcoin crashed again today. But the worst may be yet to come, and Christmas might not be so merry for HODLers, according to industry experts.

Banks to shut outdoor ATMs at night to reduce the risk of explosive attacks. The last few Decembers have been significant for the Bitcoin market.

The past two years have seen major movement in the price of BTC. Load. Follow us:.

Bitcoin Enthusiasts Respond

Redman has written thousands of articles for news. It hasn't become a widely used payment solution, but it's solidifying its position as digital gold; an asset that most investors buy because they expect for it to retain value, while at the same time considering it to be an anchor for some portion of the global financial system the verdict on whether Bitcoin really is a good store of value is still out, and might not biycoin settled for many more years. Then there's the white-and-blue elephant in the room. To begin with, regulation is a double-edged sword for bitcoin. I would still be ahead and the investment asset class I moved a good amount to would spring. Images via Crypto-Graphics. After all, gold has been used as a currency for centuries. You'll often find him writing about Obamacare, bitclin, drug and device development, Social Security, taxes, retirement issues and general macroeconomic topics of .

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