iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
17,089 Blog Posts

BITCOIN SURPASSES 14,000 AFTER JUST 3 HOURS OF PASSING 13,000

Just 3 hours after Bitcoin passed the historic mark of 13,000, it has now passed 14,000 — well on its way to 50,000. Total market cap for the cryptos is now $387 billion and only olde people aren’t involved in sizable way. Clearly, decentralization is the only path forward and Goldman and JP Morgan are literally shitting their drawers, just looking the BTC spiral higher.

With this elaborate move higher, the BTC crew from Twitter are have a field day, a digital feast, to let haters know how stupid they are for not getting in at much lower prices. Look, you had a chance, you opted to buy QQQ and make just 30%. LOLz, old faggots.

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50 comments

  1. og

    The $5 in BTC my friend gifted me in August is now $18. Why was I in stocks this whole time?

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  2. husaria

    $BTC is inverse of $UVXY, no?

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    • ironturd

      Actually $BTC is a bubble going to zero whereas UVXY is an incredibly undervalued asset that will only go up forever because it contains the very essence of Fly’s genius, a financial blogger’s horcrux carved from the petrified heart of a rags to riches to rags degenerate gambling ham and egger led to ruin by a false idol. The dark lord will livetweet the top of the “zero value” bubble until the eyes of all bitcoin millionaires bleed with the wrath of four thousand! shares of UVXY.

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      • husaria

        You have envy, yes?

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        • ironturd

          Witnessing Fly miss out on a boom of this magnitude, all in the name of blog narrative for a chorus of Trumpfags, I’d gladly see bitcoin go to $100k. He claims to read four books everyday yet hasn’t lifted a finger to learn a thing about blockchain. I had opportunities to learn and take action like most of us did, but I squandered them. I’m ok with that clearly Fly is not. His Twitter is a graveyard of called tops in crypto.

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          • metalleg

            For the record, every top Fly has called on BTC was done with the sole purpose of enraging the cryptofags. He was just poking us. Someone of my intellect picks up on these things. Someone of your intellect…well you really have none.

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          • ironturd

            Good for you. Going to bask in my ignorant bliss then while Fly absolutely relishes his posting about bitcoin everyday for a year “poking fun” at bitcoin millionaires. Everyone wins.

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          • ironturd

            For the record, people who say “people of my intellect” are absolute retards. Fact.

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  3. metalleg

    Needs a good ole correction about now. Way too frothy. Last week’s dip was child’s play.

    Dry powder needed. This shit will go on for much longer.

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  4. lesurgeon

    Remember when you were young and would stay up real late at night to read one of your favorite horror themed books? Neither do I. But if I did, I am sure it would resemble today.

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  5. rigged game

    Try to collect real cash (dollars) for the coins.
    Soon there will be billions of Bitcoins
    out there. THEN what will they be worth?

    You Trumpistas who think there is a max of
    21 million bitcoins are in for a rude shock.

    The computer creats them – and computers
    can and WILL create more.

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    • metalleg

      Show me the math or shut the fuck up.

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      • rigged game

        1+1 = 2 plus 1 = 3 ad infinitum.

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      • tonka

        Math?!?

        Show me the rule stating you can’t create a Bitcoin alternative.

        Show me the rule stating retailers can’t use said alternative.

        You’re right, everyone is just gonna let this go to infinity without trying to get their slice of market share by doing exactly the same thing.

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        • sarcrilege

          It’s all phantom “profits”. the math cannot be argued with. if all decided to cash out all at once, >73% would suffer a loss. if this becomes a cascading watershed of liquidation (i.e. profit taking) >50% will suffer a loss. The first to defect defects the best. This bubble, just like any previous bubble is driven by free money emitted by the usual synagogue arsonists at CB’s. It should not be a surprise if that’s who is behind this. They can print and buy BTC at any price and then start selling at a loss and start panic selling. Nothing would surprise me anymore. It’s only confetti that buys BTC. It’s not au/ag that is converted to BTC.

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  6. margin call

    Fly,

    I’m one of the dumbasses that hasn’t bought it. Are you really bullish long term despite the recent frothiness and potential challenge to central banks? I’ve got a brother-in-law, for example, who never buys stocks asking whether he should invest. Which gave me a flashback to Y2K stories about cab drivers asking about dotcom stocks.

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    • it is showtime

      Parabolic is above frothy. It’s the equivalent of a $13 stock going to 14. Before it was a $2 stock going to 8, or 10 12 whatever. If you think it’s a $14 stock going to 80, then fine, but (here comes the lol) do you really think given the trajectory this isn’t blowing-up soon whether engineered or not

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  7. reversion

    15k by 10pm

    Pissed I only have a 1/4 position

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  8. blackgld

    BTC should hit 20,000 by Sunday.

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  9. mad marsupial

    I’m holding out for $1Million per coin, or Quantum Computers hit 50 Qubits, or the Feds toast the party- whatever comes first. Until then, I’ll just try to figure out how to put a transmission in 68 Mustang.

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  10. joyous__ending

    I’m going in BIG on Ethereum and Litecoin…..they will soon pump these chips to the high roller table.

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    • lapens

      Actually I’m similar. Sold my 120% POWR gains this morning and turned to ETH. BTC due for a pullback and ETH is oversold. Fingers crossed.

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  11. acehood

    I’m selling here and going all in on dogecoin with the proceeds. #study

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  12. roundwego

    Blythmasters know’s how to create the moster. She did it with silver now bitcoin. The bitch, is like pure cocain to the penis. She, fuckin kills it on hyperbolic crash as well. Can’t wait to see where she lands next.

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  13. gappingandyapping
    gappingandyapping

    Why not buy ALL 108 fucking coins and make billions. No doubt we need 108 more currencies that are made up by some fictional people no? https://finance.yahoo.com/cryptocurrencies?offset=0&count=108

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    • numbersgame

      I like the one called 0x. It’s like they are daring you to throw away your money while telling you it’s worthless.

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    • Dr. Fly

      There are over 1300 ICOs.

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      • lapens

        They aren’t ICO’s Fly, they are Altcoins. An ICO is one method of how to create new Altcoins – and is rightly derided and full of scams imo.

        On a related note, the lack of coverage here about any altcoins (comments from certain readers notwithstanding) is a missed opportunity.

        The crypto-world is crying out for decent crypto-blogging websites – these fine halls could serve that demand if only you’d take the time to truly investigate.

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  14. numbersgame

    So bitcoin is very interesting. I’ve done some reflecting:
    1) Bitcoin (BTC) is very difficult to short at the moment. Bullish for price
    2) BTCs have a built-in mechanism that makes them more difficult to create (mine) as time goes. Bullish for price.
    3) The above two facts mean that there is very strong incentive to hoard BTCs instead of selling or spending them, reducing the liquidity. Bullish for price.
    4) There is a maximum number of BTCs that can be created. This means that there is a fixed supply, even as demand goes up. Bullish for price.

    However, point 2, and especially 3, and 4, also mean that as a unit of currency, Bitcoin sucks. More notes:
    1) BTC is very resource-inefficient as a currency: huge amounts of energy wasted. Not really the direction society is headed in.
    2) 1 miner (Hash-IO) controls 41% of hashing power apparently and 51% means that they can double spend (ie, spend the same bitcoin on multiple transactions). Even if they don’t get 51% themselves, they could collude with another company to push them over without others knowing. Not good for netwrok integrity, and also goes against the decentralized nature of a crypto-currency

    My conclusion is simple, BTC will continue to accrue value in the near- **and mid** term, but I am updating my very-long-term price point to <$100 as BTC will be obsoleted by another crypto-currency within 5 years. This also means that mining bitcoins (through a pool) and hoarding them will probably be highly profitable.

    Target selling price: none. Sell when it becomes evident that BTC is losing market share, ie, when big on-line retailiers such as Amazon, Walmart, etc., back a competitor.

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    • bushwacker2

      Bitcoin is not supposed to be a currency. It is a block chain-induced equalizer giving the have-nots a chance at glory. Next up is ETH. Don’t miss out again. Get you some!

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      • tonka

        I’m confused. How is ETH next if it has had better returns than Bitcoin? If you bought ETH at the beginning of the year rather than Bitcoin, you’d have 2.5x as much money right now.

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        • bushwacker2

          Perhaps you’re confused because you’re overthinking things too much. Bubbles and the madness of crowds are the result of emotions, not accurate logical thinking. The fallacy is that if we think logically and accurately as speculators we will be successful and make money.

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    • it is showtime

      I dont believe whatsoever it’s a coincidence bcoin is rocket launching in this palpable broad geoeconomic endgame. They are literally going guns ablazin’ comic book style on it. Emptying chamber after chamber in gleeful final showdown pleasure. Blowing-it-up by Blowing it up. It’s not happening apart from globalist banking purview

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  15. bushwacker2

    Parlaying some more of my “phantom” BTC profits into ETH. Ridiculousness, but I’ll take the 36x return in 3 yrs and see if lightning strikes the same spot twice. Good fortune to all you haters.

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  16. stocksnblondes

    Fly, let us know when you finally cave and buy Bitcoin.

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    • bushwacker2

      “If suddenly tomorrow everyone decided bitcoin was worthless, it would be worthless, and I’m not sure whether people have really thought that one through.” Obviously people do not think it is worthless, just yet, at $14,600 and counting….

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  17. cancel19

    Dr. Fly can come out with an “I Bank Coin” coin!

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    • lapens

      He already did – he just didn’t realise it. Why do you think I first looked into the PPT coin? After having PPT drummed into my brain reading this site for years, it caught my eye so I read up on it and quickly realised it had a solid business-case.

      Now I’m sitting on 418.55% gains – and I’m not even joking.

      And I bet Fly still hasn’t even fucking looked at it…

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  18. traderconfessions
    traderconfessions

    Oddly, I have no FOMO with Bitcoin. Congrats to those who took a gamble.

    Sooner or later North Koreans and Russians will figure out how to separate invisible coins from invisible wallets and that will be interesting.

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  19. txchick57

    Looks like I was right about that reverse H&S on the chart you posted last week under your “Chartfags” post. That said, I wouldn’t touch that shit.

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