The Bitcoin Theory. Hits $6000USD and $100Billion Market cap!
Bitcoin just hit $6,000USD and crossed it on many platforms. This is no surprise especially since the world has been closely watching the crypto endure backlash and strict regulations/ban from different countries and corporation.
Just some hours ago, Bitcoin finally broke through the $5,700 cap and surged above $6,000. Now the questions remain, what next for Bitcoin.
We are going to look at recent rants against Bitcoin.
JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Jamie Dimon says if you're 'stupid' enough to buy bitcoin, you'll pay the price one day
'Bitcoin Is A Ponzi Scheme'- Credited to Jim Rickards acurrency expert who says he totally agrees with Jamie Dimon.
If we have to go on talking about the news that has trailed Bitcoin since the beginning, we will have not space on this blog. The outlined articles are in the public domain so, do well to read.
The Bitcoin Theory is more than we know it and from inception, it has proved to be a currency that cannot be tamed. The introduction of Bitcoin to the world opened it up to a whole new era where the impossible has proven to be possible. 
Bitcoin practically brought about the decentralized movement that has continued to give the fiat currency and organizations sleepless nights. Steem and other vibrant cryptos cut their teeth from the Bitcoin technology.
The Bitcoin theory simply states the fundamental economics and legal framework of the currency which is, it has no central monetary authority but is regulated by peer-to-peer computer network made up of its users.
Many still find it hard to understand what Bitcoin is and where it comes from and most importantly why is is this valuable. The mathematics of Bitcoin also plays a major role in the overall composition of the world's most popular and decentralized digital currency.
What then is the mathematics? Bitcoins are mathematically generated through a difficult number-crunching tasks through a process called "mining". It is electricity, heat and numbers.
Now that we are here, how much longer before we see a $10,000USD price tag for * the fraudulent* Bitcoin?
I am not a crypto or Bitcoin expert as is, but I am a simple guy that has come to seriously embrace the decentralized world.
Additional reading. Bitcoin surges above $6000
Charts and graph produced by @penguinbablo
Image Source. 1 2 3
Interesting theory .
Thanks
Sure looks like a $10k coin... @greenrun is right. The strategy for now is; Buy in, get in on the bitcoin gold split, drag the price down again by taking profits... The market is volatile. But it will always be progressive.
@ejemai
It sure is a $10k and beyond coin. Buying in now may prove profitable or not because we are still unsure what the coming Hard fork will come with, but one thing is sure, Bitcoin is the future and we are already living it. Thanks for reading.
I was waiting for the updated graph of Bitcoin over the others cryptos from the market cap point of view.
Oh my friend, I am sure it will be a beautiful graph I can tell.
Everyone is buying in preparation for the fork, definitely going to see a pullback after the fork. But for hodlers of bitcoin, enjoy the bull run.
It definitely will keep having corrections as it ascends to the highs designed for it. Good luck to the early adopters of Bitcoin, they are the big earners no doubt. Thank for reading
You are welcome. We could still be those early adopters; maybe one day 1BTC would hit $100k :)
But buying now may probably be FOMO, but no one could really tell with bitcoin as it may hit $8k after the fork.
Important to not buy bitcoin now as the price is being pumped. There will be a significant correction at some stage in the future . Would be wise to wait for this correction before buying back in. Wait for the dip
Great news for Bitcoin investors but it's becoming more inaccessible to people starting out with cryto currency. I guess the downside of it is that when Bitcoin reaches USD 10k then some people starting out on cryto investment may stay clear of it until the price goes down to a reasonable amount.
It is and will continually be because they stage it is now is not the early stage but a full blown one. You should buy the bit you can because it is still on a bullish run. Thanks
This is great news.
It is.
Great post thank u for sharing love it
Thank you for reading.
Bitcoin is fixing to be 10,000 by April 2018. These are the words of the Prophet.. Thanks be to God.
Man, @ejemai you just dropped a quote that made bitcoin seem like a movie character: "...from inception, it has proved to be a currency that cannot be tamed..."
Hahah, that's strong though
ol.., you just have to give it the character called Bitcoin, he is badder than the baddest. Thanks
Hahahahah
Thanks Ejemai for sharing this. For me Bitcoin is a gauge that measures the true value of national currencies more accurately than anything else at this moment in time. Price mechanisms in precious metals are manipulated/influenced by meaningless trading in contracts, so for now Bitcoin is the canary in the coal mine.
No doubt we will eventually witness national currencies becoming blockchain digital currencies, and the disappearance of cash. I don't see that as a healthy situation, and I wonder if such countries will eventually work to undermine cryptocurrencies. The future is uncertain to say the least.
It is uncertain and we just have to wait to see what happens with the global adoption of or not of Bitcoin. I doubt if cash will ever disappear, but we just have to wait and see how it will pan out. Thanks for reading.
Hope you are right about cash.