BTC 1 year ago today: Just under 500USD
BTC end of the year 2016: just under 1000USD
Even with things like fast lane scams, and slower transactions- Bitcoin is still growing. The amount of BTC transfers now compared to the last peak at 1156 in 2014 is 5x. http://www.coindesk.com/data/bitcoin-daily-transactions/
When the 1000 USD bubble normalized, it only went down to 200..
I don't think we're going to ever see 500 again folks.
I hope you all had a good year
And I love this new site/branding.
Renewed: oldfag buttcoin hodler (nowadays). AMA
I don't see why it's grown at all since you can't mine it with any thing but a $10,000+ supercomputer at this point. of all the cyrpto currencies I've seen filecoin looks the most reasonable.
Maybe that's the reason. People are picking it up, some companies like Valve started supporting bitcoins, but there aren't enough people mining it.
Unless I'm missing something here. I usually am.
have you listened to level1news and the war on cash? no wonder that Cryptocurrencies are highly wanted
what has grown?
the price has grown because it can't really be mined anymore and because of the war on Cash
Why are the transfers growing? Dunno, perhaps it's becoming more mainstream.
Basically, it's growing in popularity due to age, and lack of failures of the network.
The value of bitcoin is going up due to the continuing shortage of bitcoin supply.
BTC mining has halved again on payouts to 12.5. As the sellers of mined coins continue to need higher payouts and have less coin to sell, the miner's influence on the coin price will slowly fall.
BTC is now mainly trading coins already in circulation. As more people buy to hodl, the ability for new people to get coin is going to lower. And as it is that coins are no longer exchanged back to a currency, the price will see more increases over time.
CryptoCurrencies are a currency first and foremost. The ability to 'mine' the currency as an incentive is nothing more than implementation detail. Other coins are looking at other incentives and it will be interesting over the next 4 years to see if the core devs actually start trying to fix btc instead of money grabbing.
I think it will plateu from development failures if this keeps up before the next halving.