Bitcoin's Price History - Investopedia

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When 2012 Presidential Debate Took Place, Bitcoin’s Price Was $12

When 2012 Presidential Debate Took Place, Bitcoin’s Price Was $12
And when the 2008 presidential debate took place, Bitcoin's price was a few cents!
And when the 2004 presidential debate took place, Bitcoin didn't exist!
Super bullish! BUY BUY BUY! Let's hope for next presidential debate!
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Edit:It was $11, not $12.
https://preview.redd.it/8cdr1zb6tfq51.png?width=1138&format=png&auto=webp&s=a9483cdc8f9a6622aaa433338c2cf9f99a89882f
submitted by RedPill43 to Bitcoin [link] [comments]

When 2012 Presidential Debate Took Place, Bitcoin’s Price Was $12 (x-post from /r/Bitcoin)

When 2012 Presidential Debate Took Place, Bitcoin’s Price Was $12 (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Bitcoin was priced correctly in 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020...

Bitcoin was priced correctly in 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020... submitted by dan_held to Bitcoin [link] [comments]

Gold Prices Back to 2012 Highs, This Month Bullion Beats Bitcoin

Gold Prices Back to 2012 Highs, This Month Bullion Beats Bitcoin submitted by bitcoinexchangeguide to BitcoinExchangeGuide [link] [comments]

What's Holding Bitcoin Back

I've previously posted some of my writings here and garnered a positive response. Since then I've abandoned steemit and created a dedicated website dubbed graspbitcoin.tech that ventures to explain how bitcoin will change the world. Included below is the full text of the 3rd article in this series, but there are already a number of other post on my site that go further. This information is geared towards the general public and may seem largely like review to this community.

What’s Holding Bitcoin Back

Money should be a good store of value, medium of exchange, and unit of account. There are a lot of barriers preventing bitcoin’s widespread use by the aforementioned criteria, let’s take a look and see how they might be solved.

Lack of Understanding

Bitcoin is complicated and unfamiliar. This is a huge barrier to entry because people distrust what they don’t understand, and ease-of-use and simplicity is what usually sells a new technology. If you have read this series from the beginning though, you may now see some potential upsides to such a drastically different system than what we are used to. Many resisted smartphones for a time (and a few still do). The benefits have to outweigh the costs of adoption, so we may see niche cases being the early adopters (like citizens of Venezuela or remittances payments). Also, when a new complicated technology rolls around, it sometimes takes a generation before it becomes widespread; young people are particularly adept at adopting new tech.

Volatility

The tendency of bitcoin’s price to change rapidly or unpredictably is what comprises volatility.
When you search for bitcoin you may find that most of the results you get (and the discussions happening on forums) are about it’s price. This is understandable, it has seen some crazy moves both up and down over the years facilitating the potential for huge gains (and huge losses). Still, over time the price certainly is increasing. Unless you bought in a single 2 month period in 2013, holding bitcoin for longer than 2 years at any point in its history would land you in a better position than when you started. And, when viewed on a logarithmic scale (used in long-term stock charts), the trend is quite clear:
(Bitcoin Price 2012-2018, Logarithmic Scale (bitcoincharts.com))
There is a risk/reward to adopting new tech, and this is no exception. But, my goal is absolutely not to “sell” it to you as an investment by any means.

This is not financial advice. We’re simply looking at the pros and cons of this space, and I encourage everyone to do their own research and come to their own conclusions. Never invest anything you aren’t prepared to lose.

This meteoric rising (and crashing) of the “price” (which, I’ll point out, might just as well be considered an exchange rate) understandably makes it pretty difficult to use bitcoin as a currency. If it moves a few percent in a day, and can move a few hundred percent in a month, purchasing a car or a house could cost you significantly more by the time your finished closing. That’s just not viable, and certainly not a good unit of account.
However, I see the volatility in price simply as growing pains. It is the market that dictates the price of bitcoin, quite literally, it’s traded like a stock. This is referred to as speculation (“the purchase of an asset with the hope that it will become more valuable at a future date”). Speculation happens between national currencies already, but they are generally stable in comparison so it’s not lucrative. People are unsure of how this whole bitcoin thing is going to play out. It’s not like anything we’ve ever seen, it’s difficult to understand (and use), and it’s not accepted at every corner store or online business. Many in the space are just here for a quick buck, and they sell it when the price rises to get back “real” money we are used to, that is “stable” in price against other currencies, and can predictably buy goods and services.
The way I see it, all of these will concerns diminish in time.
Though Amazon or Target don’t yet accept bitcoin, Microsoft and Overstock.com do. Some cities and towns across the world are embracing it a lot more than others. It’s not surprising to see San Francisco accommodating the new technology. But, other cities like Portsmouth in New Hampshire with numerous cafes and shops accepting bitcoin (and “Dash coin”) might surprise you. There are maps available to see where crypto-currencies are accepted at locations near you, and the amount of them are increasing, albeit slowly. It’s a bit of a chicken-and-egg situation, but that hasn’t stopped revolutions from happening before.
Consider when cars first came about, roads were dirt and mud which cars didn’t do well with. It took building massive infrastructure before cars could ever become mass-adopted, but we spent the time, money, and effort because we saw the potential advantages. It will be trivial for businesses to accept bitcoin compared with pouring hundreds of millions of dollars in asphalt to connect our world. Other parallels include train tracks, phone lines, electricity lines, communication satellites, etc. Each of these replaced or iterated on previous functional technologies, and required massive upfront costs before the benefits were available. It’s clear now that we made some good choices there but there were doubts at the time.
Despite some pretty major setbacks, bitcoin’s trend is up. Interest is growing and more businesses and individuals are actually using it. But due to the trading mentality, the uncertainty with regulations, uncertainty in the technology itself, uncertainty that the price will not drop, and other factors, emotion and greed encourages people to sell in flocks if the price climbs high enough.
Furthermore, right now with a large enough stack of money one can influence this market in drastic ways, and cries of manipulation of the price are not unfounded. So-called “whales” can buy and sell huge amounts of coins and the price can jump a bit each time. Coupled with uncertainty in the space, and so many “investors” trying to time the markets, we end up with a pretty volatile landscape where the price is not stable. My argument is that this is diminishing as it gains in popularity, and it is gaining value because its utility is growing (see the network effect”) and the utility itself is slowly becoming more apparent.

Volatility is actually decreasing.

Bitcoin Volatility Over Time(bitvol.info)
In the period from 2011 to 2014 bitcoin’s volatility often spikes into the 15% range. But from 2014 to the present, volatility has only just spiked above 7% twice, spending most of it’s time below 5%. Even the large boom and bust in price at the end of 2018 seems tame compared to the early years.
The trends show the price going up over time, and volatility going down. The more actual use the coin has (people saving and buying with bitcoin), the percentage of people entering the space to use it the way it was intended increases, the percentage of “stock traders” declines. And as more capital enters the space, the less influence whales have (because the current against which they swim is getting stronger). And as the price stabilizes, traders will become less interested.
There is a critical point where this becomes a negative feedback loop. I could be wrong, but the idea is at least founded in reality, and it would solve the unit of account issue if the price could stabilize to within a few percent per year.
Similarly, as a store of value, bitcoin becomes more viable in this scenario. This is coupled with the fact that although bitcoin is somewhat inflationary now as the supply is increasing (bitcoins are “discovered” as rewards for mined blocks), the amount of discovered coins are cut in half every few years. This “halving” is logarithmic, meaning eventually the amount of coins discovered is infinitesimally small, and total supply will asymptotically approach 21 million coins (the maximum supply that we will ever see).
This model of supply is actually meant to mimic gold because it’s a well-known store of value and monetary device throughout history (though it is not easily divisible, and not as portable as bitcoin). In both bitcoin and gold, mining is more fruitful in the beginning, and as we extract the low-hanging-fruit, mining requires greater effort and yields less return.
World population is increasing which leads to bitcoin becoming deflationary in the future if demand continues (the supply won’t increase beyond 21 million). And, I argue that it will become more valuable in time due to the network effect as bitcoin use becomes more widespread (the value of being able to exchange with more people anywhere, any time, and without permission from anyone).
This is a positive feedback loop, and shows how bitcoin is deflationary long-term. While deflation is generally considered negative by economists, the main reason is based around debt which isn’t possible in the same way with bitcoin because bitcoins cannot be created out of thin air like fiat currency.
The discussion of deflation vs inflation is an important one, and bitcoin’s monetary policy is an outlier compared with national currencies which are typically inflationary. The US dollar for example averaged 3% inflation since the year 1900. That means that over the last 100 years, a dollar has lost over 95% of its purchasing power. You could buy 95% more stuff with $1,000 last century, or, saving $1,000 from 100 years ago would buy you 95% less stuff at present. Put another way, purchasing power is cut in half after about 25 years, a concern for anyone retiring for over 20 years with a fixed retirement sum.
Some other national currencies have higher inflation rates, and there are numerous cases of inflationary spirals over the years. A few examples include Germany 1923, Hungary 1945, China 1947, Vietnam 1988, Peru 1990, Yugoslavia 1992, Zimbabwe 2008, and right now in Venezuela 2018. Entire countries of people have lost essentially all of their money, and it keeps happening over and over. A wise man would tell you it’s dangerous to say “it could never happen here”.
*UPDATE: Turkey is also now in financial crisis. This is our money with which we hold and exchange value, our earnings, our savings, our livelihoods. Maybe it’s time we had, at least, another option outside of government control. An option that governments can’t destroy through mismanagement. A neutral option that ignores all borders, is open to everyone, and can be accessed anytime from anywhere.

The Fear of “Hacks”

It’s a very real threat to have all your money stolen, if your bank was robbed you are protected by FDIC (in most cases only up to $100,000). The vast majority of coins that have been stolen have come from hackers attacking “exchanges” and getting away with millions. These exchanges are websites where you can trade bitcoin for other crypto-currencies (or “alt-coins”). You can also buy and sell bitcoin on them, and subsequently people end up storing a lot of coins on these exchanges, and the exchanges hold the “private keys” so they can execute trades.
Cryptographic private keys are analogous to a key that opens a door, or, a key that locks a message in a box before it is sent to the recipient. In our case the door opened allows you to sign your message and spend coins, and the message is your transaction on the bitcoin network. Anyone with your private keys can spend your coins. Exchanges are a honey pot of thousands of private keys that represent a lot of money. If a hacker can break into the exchange and steal the keys all at once, their work will pay off.
This is why any crypto guru will advise you not to store large amounts of coins on exchanges, and rather transfer them in your own wallets where you hold the private keys. The mantra is “your keys, your money; not your keys, NOT YOUR MONEY!” Of course your own computer can be hacked, but you are not as big a target as an exchange which may hold vast sums of money. There are also some pretty safe ways to store your coins if done right.
Centralized exchanges are a necessary evil for many people because they facilitate acquiring and trading coins easily. But decentralized exchanges are becoming more common because they allow you to trade while keeping your coins in your control at all times. They need some work and more users, but it’s a promising solution to this problem. Summarizing the above, the big hacks you read about are virtually eliminated if your keys are in your control and you keep them safe.

Fees

Transaction fees are generally negligible in a bitcoin transaction, but in many ways “fees” are holding us back. Interestingly, this is a symptom of being in the very early days.
Firstly, there is a lot of work on “scaling” crypto-currencies (making fees even lower than they already are and increasing transaction speeds). This is just an engineering problem, and many people are working on solving it in many different ways. Other currencies like NANO or IOTA have different underlying tech and have zero fees and instantaneous transactions.
In fact, most fees people encounter aren’t fees from bitcoin transactions; instead, they get hit with fees when exchanging between national currencies and bitcoins. In order to electronically trade USD($), EUR(€), or YEN(¥) with bitcoin, we need to hook into the closed-off for-profit banking network and we need third-parties to do so (and they take their cut).
But even these fees could be avoided in time. For example, you can buy bitcoins with cash directly from a person (localbitoins.com). And, it might seem distant, but in the future you may end up receiving bitcoins as your salary, from a friend, or from accepting them in your place of business. Likewise you can spend your bitcoins directly to other bitcoin users. Getting coins directly eliminates all the exchanging and associated fees because once your money is on the bitcoin network, fees will be negligible (especially as these networks evolve).

Usability

Right now it’s easier than ever to acquire some bitcoin. People can download “Coinbase” or “Square App” on their smartphone and purchase some using a credit card in a few minutes. Depending on which service you use and how much you want to buy, you may need to send a picture of your license for KYC regulations. However, as I mentioned above, there are risks to storing all your coins on exchanges, especially with large amounts. I always recommend transferring them to a wallet where you control the private keys.
But using wallets and storing private keys (and “seeds”) securely, is not as straightforward as we would like. This is a major factor holding back adoption, because if it’s not easy to use, people will consider it too much effort.
The next post in this series digs into wallets and storing your coins.
submitted by mrcoolbp to CryptoTechnology [link] [comments]

Bitcoin Price Has Recorded Its Best Start Since 2012, But Its Strongest Increase Is Expected In 2021

Bitcoin Price Has Recorded Its Best Start Since 2012, But Its Strongest Increase Is Expected In 2021 submitted by sylsau to CryptoMarkets [link] [comments]

Bitcoin Price Time-lapse: 2012 > Now

Bitcoin Price Time-lapse: 2012 > Now submitted by dan_held to Bitcoin [link] [comments]

If Bitcoin Follows the 2012 and 2016 Halvings, Price Will Go “Almost Vertical”

If Bitcoin Follows the 2012 and 2016 Halvings, Price Will Go “Almost Vertical” submitted by n4bb to CoinPath [link] [comments]

If Bitcoin Follows the 2012 and 2016 Halvings, Price Will Go “Almost Vertical”

submitted by Ranzware to BitNewsLive [link] [comments]

Bitcoin Price Has Recorded Its Best Start Since 2012. But Its Strongest Increase Is Expected In 2021. What do you think?

Bitcoin Price Has Recorded Its Best Start Since 2012. But Its Strongest Increase Is Expected In 2021. What do you think? submitted by Calibra1970 to CryptoCurrencies [link] [comments]

Why The 2020 Bitcoin Halving Is Different And Might Disappoint Price Spike Expectations Like In 2012 & 2016

Why The 2020 Bitcoin Halving Is Different And Might Disappoint Price Spike Expectations Like In 2012 & 2016 submitted by flandersman to CryptoCurrencies [link] [comments]

Bitcoin Price Has Recorded Its Best Start Since 2012, But Its Strongest Increase Is Expected In 2021

Bitcoin Price Has Recorded Its Best Start Since 2012, But Its Strongest Increase Is Expected In 2021 submitted by sylsau to Bitcoin [link] [comments]

Bitcoin Price Has Recorded Its Best Start Since 2012, But Its Strongest Increase Is Expected In 2021

Bitcoin Price Has Recorded Its Best Start Since 2012, But Its Strongest Increase Is Expected In 2021 submitted by sylsau to CryptoCurrency [link] [comments]

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012 submitted by p2psf to p2psf [link] [comments]

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012 - Latest Cryptoworld News

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012 - Latest Cryptoworld News submitted by latestcryptoworldnew to u/latestcryptoworldnew [link] [comments]

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012 submitted by Ranzware to BitNewsLive [link] [comments]

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012

Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012 submitted by Ranzware to BitNewsLive [link] [comments]

Bitcoin is on its best start-of-year streak since 2012 (current BTC/USD price is $8,765.22)

Latest Bitcoin News:
Bitcoin is on its best start-of-year streak since 2012
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

The 2010s In Bitcoin: The Year 2012 (current BTC/USD price is $7,341.69)

Latest Bitcoin News:
The 2010s In Bitcoin: The Year 2012
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

I am excited that BCH is being irrationally criticized, because it reminds me of 2011 and 2012 when Bitcoin was being irrationally criticized. Any of 2013, when the price rose 100x.

If investing is about identifying mass delusion and capitalizing on it, what greater buy signal is there than an irrationally hated asset?
An investor looks for a mismatch between perception and reality. Short a stock that is irrationally loved. Buy a commodity that is treated like junk but has an as-yet unrecognized use.
The bigger the error, the bigger the opportunity.
Of all the patterns of errors people fall into, none kill rational thought faster than tribal emotions. As an investor, what do you make of the tribalistic chanting of "Bcash, Bcash, Bcash" especially without any arguments and coupled with dismissive content-free memes?
submitted by ForkiusMaximus to btc [link] [comments]

@cz_binance: RT @blockjournal: $BTC Price On Halloween 🎃👻 2010: $0.19 2011: $3.25 2012: $11.20 2013: $198.23 2014: $336.80 2015: $408.43 2016: $697.37 2017: $6,447.67 2018: $6,320.46 2019: $9,170.28 Bitcoin is the best performing asset in history. 🚀

submitted by rulesforrebels to BinanceTrading [link] [comments]

Bitcoin price history 2012~2018 Lolllllll

Bitcoin price history 2012~2018 Lolllllll submitted by OvORTX to Bitcoin [link] [comments]

Bitcoin Price History in Dollars From 2012 to 2017 ... Bitcoin 80% Crash after the Halving! BITCOIN Price Movement 2009 to 2017 - YouTube Bitcoin price history 2012-2017 Bitcoin forecast for 2012

The average price of one bitcoin was approximately 10,728.25 U.S. dollars at the end of September 2020. Bitcoins are traded on several independent exchanges worldwide and there may be differences ... Bitcoin Price (BTC). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. Bitcoin price and market cap (log scale) through November 2019. Early Trading: Bitcoin History . Bitcoin really started to take off in 2013. The digital currency began the year trading at around ... Bitcoin Price continued to fall due to a false report regarding bitcoin ban in China and uncertainty over whether the Chinese government would seek to prohibit banks from working with digital currency exchanges. Apr 2014: $340 — $530: The lowest Bitcoin Price since the 2012-2013 Crypriot financial crisis had been reached at 3:25 AM on 11 April Bitcoin Price in 2012. The price of Bitcoin in USD is reported by Coindesk. All prices on this page are nominal (i.e., they are not indexed to inflation). For price history since Bitcoin was first traded on exchanges in 2010, click here.

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Bitcoin Price History in Dollars From 2012 to 2017 ...

After the first Bitcoin Halving in November 2012 the price of Bitcoin crashed more than 80% a couple months later. How likely is such a Bitcoin dump after the Halving in 2020? Phemex $112 Extra ... The prices are showed in Dollars (USD) Check the bitcoin price in real time here https://price.bitcoin.com/ Highest Bitcoin: $4,489.1 (not anymore) Lowest: $4.2 Bitcoin Up, Bitcoin Down, does the Fundamentals change with price? ... Bitcoin 2012 London: Richard Stallman - Duration: 43:23. Independent POV Recommended for you. 43:23. Bitcoin/USD historic price data from 2012 to 2017 on Bitstamp. Charted with tradingview. The Bitcoin Chart That Has Been Telling The Future! #Btc #BCH #Ltc - Duration: 6:01. MacMac007 Cali 1,048 views

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