HWPeeler (HPeeler)

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Bitcoin Price Recedes after Surge to $7,600

Started 11/9/17 by Franki 7775 (franki7775); 284 views.

The bitcoin price fell into decline on Monday after achieving an all-time high above $7,600 the previous day. Many altcoins experienced price increases, but their combined progress was not enough to prevent the total cryptocurrency market cap from dipping below the $200 billion mark.


HWPeeler (HPeeler)

From: HWPeeler (HPeeler)


I have never had a reason to buy any Bitcoin. What's the big deal with it? Who uses it? Any advantage over VISA or Master Card? It is like a debit card, right? You put money into it and buy stuff with it. A "not under my name" vantage?

HWPeeler (HPeeler) said:


It is more then a mastercard. Consider it as a crypto currency. You invest in a bitcoin and watch the shares grow on the stock market. When you are ready to sell your stock you may opt for it, however you still have to give the fair share of the profit to the IRS for tax purposes. 

HWPeeler (HPeeler)

From: HWPeeler (HPeeler)


Bitcoin is the basic currency used on the dark web also, right? Not that I have ever been there. I can buy $100 of bitcoin (0.01389 of a bit at $7,200?) and buy stuff.

Like all currency, there is always a dark web involved somewhere, like the American dollar being used to fund prostitution, illegal drug deals and other black market products. 

Here are just some of the most coveted items on the black market today:
  • Human Body Parts. ...
  • Exotic Pets and Animals. ...
  • Cosmetics and Plastic Surgery. ...
  • Prescription Drugs and Narcotics. ...
  • Weapons and Bombs. ...
  • Sperm. ...
  • Pirated Media and Computer Software. ...
  • People (Human Trafficking)

I don't know if you remember what happened a few months ago where some hackers attacked companies around the world and kept their information ransom through the wannacry virus software. They requested to be paid in Bitcoin as it is less likely to be traced than the other currency. So yes, there is always risk involve. 

I am not entirely aware if you would be able to buy a certain portion of a bitcoin or if it is only priced at a full coin.

HWPeeler (HPeeler)

From: HWPeeler (HPeeler)


Re: buying bitcoin

I don't know either. I suspect not everything sells in even bitcoin values.