Cost of a single Bitcoin exceeds $50,000 for first time

Lots of people investing a lot into this.

I don't believe that will end well.

Lots of people investing a lot into this.

I don't believe that will end well.

People said the same thing during the last bull run in 2017. Lots of people have been investing into it for a decade and will continue to. Will it also end badly for giant institutions also investing? Are they doing it as a last minute reaction to the markets or have been planning to for years?

Future finance is digital. People are scared of change, and of things they don't understand, but it's just the way its going.

Trade in crypto-currency at your own peril.. and do not come back here crying when one or more crypto currencies collapse or is hacked out of existence, or worse legislated out of existence. 

To me, a law abiding citizen, crypto-currency serves no purpose other than possibly a greedy investment speculation. But I don't do greedy investment speculation.

Lots of people investing a lot into this. I don't believe that will end well.

Most investors, including the biggest ones like TESLA, disagree. If you want to be wealthy, get your money out of the outdated FIAT banks (and most stocks), and into Cryptos. As I have stated before, I believe conservatively that BTC will be $150,000 by years end. Possibly much higher.

This is not just a short-term boom.

The more people that invest (from the US) is good news for the people that are exiting bitcoin (in China).

For every new investor buying into bitcoin, somebody is selling the them and cashing out.

Smart money is leaving, suckers are piling in.

That's your mantra, but it isn't accurate.

US residents are the only ones buying bitcoin, or any other the hundreds of other cryptocurrencies out there?

Not at all. Crypto is booming in every country in the world. It has allowed Venezuelans to survive as their currency is now completely useless.

The China FUD is getting tired, mate.

Try selling and locking in profit on a crypto when the exchange won’t take the trade!

There is nobody around to pick up the phone!

Botcoin is a speculative asset that requires a wallet, passwords and is unfortunately extremely hackable-invest but be prepared to forfeit all...

Smart money is leaving, suckers are piling in.

And I bet a year ago you were calling those smart money people suckers for buying. Ever consider that those suckers "piling in" now might be smart money in another year?

Most of the people criticizing bitcoin here seem to have missed the point of it, and think it's just another speculative asset. It's the future of currency. Decentralized and digital, with an emphasis on decentralized. Exchanges are not essential to the system.

Decentralized.. no, 70% of the network is under jurisdiction of the Chinese government. Whoever controls more than 51% has total control.

That's not how it works. If China stopped mining tomorrow, it would be picked up elsewhere.

Future of currency... kinda, Central Bank Digital Currencies are the future, not this stuff, it takes 10 minutes to process a transaction.

Central bank currencies, digital or not, would be subject to the same built-in failure, manipulation, theft through inflation, and eventual collapse. There is no good reason why a nation should have control over your choice of unit of exchange.

So far as 10 minutes, yes bitcoin can be slow. But there are many other crypto-currencies that are fast, cheap and easy to use as payments. Bitcoin is more like digital gold. You can't buy your groceries with gold, either.

I don't know why anyone who understands how money works would want to continue with the current system and see their life savings eventually wither to nothing.

Next time invest in tangible and real things, things that really DO EXIST !!..

You mean like your gold ETF that you keep on your retirement fund ?

there is consensus that Bitcoin has value as a hedge against inflation

Not sure who that consensus refers to.

I own some crypto, but purely in order to participate in a bubble market. I wouldn’t blink an eye if fxgaicoin comes out tomorrow and is so much better than Bitcoin that everyone stampedes out of it rapidly.

The bubble will pop and the Central Banks will use the ensuing carnage of lost savings as an excuse to ban bitcoin.

They will simply ban the major banks from dealing with it and also ban private transactions with it.

Ban, meet decentralization. It would be like banning drugs. People will continue to use it. And collapsed economies tend to create massive black markets.

A band would knock the price way down, of course. But that price could easily rise again, depending on how much credibility the state has left.

Conversely, there would be considerable economic advantages given to any state that welcomes crypto in such a scenario,