Bitcoin breaks $10,000 barrier but analysts warn of bubble

Despite concerns, most observers believe it is unlikely to suffer heavy falls soon.

© 2017 AFP

Heh, that'll suck more newbie speculators into the bubble! Thanks AFP.

Go go BTC!

Great. Another bubble is what the world economy needs, when we are still dealing with the consequences of the Lehman Brothers crash.

Don’t worry, the world will hardly notice the next time bitcoin plunges.

fxgai, that article wasn't unbalanced enough for you? lol...

hey, how does one quote previous comments here?

Just a reminder. Bill Gates could buy every bitcoin in existence (or at least he could last month). That's how small the market is right now. That means the potential for growth is massive. It also means that a market collapse will barely be noticed in world financial markets.

Obviously, though, since it can be used to buy guns and drugs, it's almost as dangerous as that other currency. The one we call cash.

^ For a government to print cash, its needs to have certain percentage reserved in gold. Well, unless it is US currency which is backed by US government's words alone , "In God We Trust". In other words, cash is backed by either gold or by its government. Unless the gold market or government collapse, then cash would yield no value.

Whereas Bitcoin is backed by.....?

Tulips. Bitcoin is backed by tulips.

In other words, cash is backed by either gold or by its government. Unless the gold market or government collapse, then cash would yield no value.

Yes, that's what fiat currencies are backed by.

Bitcoin is backed by the distribution of the internet. Unless the internet collapse, then bitcoin would yield no value.

Whereas Bitcoin is backed by.....?

A decentralized, secure, anonymous system, that removes institutions from money.

I just knew it had to be something as fragrant as…… Tulips

I just knew it had to be something as fragrant as…… Tulips

Entirely uncomparable to the tulip bubble.

Well actually, the fact that you guys are comparing it to that shows I'm wrong, it is comparable.

It's just that you're wrong.

@Strangerland

I hope you don't have something against tulips?

Theyre awfully pretty!

I don't think it's possible to see or smell a bc?

Maybe, in a dream....maybe

Theyre awfully pretty!

I agree.

I don't think it's possible to see or smell a bc?

Not possible to see or smell this website either, yet here you are posting on it. Are you trying to say this site doesn't exist?

I remember people saying much the same thing about this very internet when it first gained prominence. If you were to hear their conversations now, you'd laugh at how silly they sound, due to their being entirely clueless about how the future would proceed. Kind of how you are sounding right now with your comments on bitcoin, to those of us who actually understand it.

Heard that the Japanese Government is considering Taxing BitCoin gains by 51%...

Anyway, for all it's hype, it is certainly volatile - down below 9500 US$.

https://www.xe.com/currencycharts/?from=XBT&to=USD&view=12h

BitCoin offered me promise...

I just wanted to be able to make payments between Countries, without hefty fees being taken by Middle-men for doing apparently nothing, and without the Japanese Taxman trying to take a cut of it too on-top of the tax paid in the country of origin.

Sadly, none of this can be realized. And with it's volatility, you may end up loosing more than you would had you paid the Middlemen and Taxmen with just normal currency transfers....

Down 15% over the last day.

Just a garden variety dip for bitcoin perhaps, but I think Mr Kobe White Bar Owner made a good call ditching his bitcoins when he did.