Bitcoin

[scooterscot]

a few hundred billion here, a few hundred billion there. Pretty soon you'll be talking about another Tory election campaign....

FTFY

[DaveB]

Millions 'stolen' in NiceHash Bitcoin heist - BBC News

Hacking BitCoin sites is the new Bank Robbery.

[billybiro]

It's still only $200bn, sounds like a lot but would actually only be a bump in the road at worst if it goes to zero.
Late investors get turned over of course but earlier ones just kick themselves for not cashing out a bit earlier. Same as people who have cashed out are kicking themselves for not hanging on.
They don't ring a bell at the top unfortunately, I would be tempted to take some off the table, lock in the gains and leave some to ride, playing with the houses money.

It's over that now. Do you realise that Bitcoin's market cap has now surpassed Visa?

[tomtomagain]

It's over that now. Do you realise that Bitcoin's market cap has now surpassed Visa?

Is that even a relevant comparison?

BitCoins "market cap" is the sum of all the bitcoins in circulation * the current price.

Visa's market cap is the sum of all it's shares * the market price.

[northernladyuk]

I doubt there are many BTC investors who are greatly leveraged, so it will just be the greater fools losing a chunk if their savings.

[Hobosapien]

There must be some who had a few thousand coins from the early days when it was possible to mine them on a basic laptop for pretty much free that have since cashed out and are now multi-millionaires. Well done to them.

Looking back it was a no brainer to mine some while it was so cheap and easy, just in case it became popular.

Those still buying in are just pure gamblers so will be funny to hear stories of how they bet their life savings and lost it all on greed due to a 'once in a lifetime opportunity, don't miss out'.

At least all the current mugs are providing an exit for those who got in early enough and want real currency they can actually spend. Wealth re-distribution from the idiots, not the first time in history.

Edit: Reading elsewhere of anecdotes of people on minimum wage or barely above maxing out credit cards to 'invest' in bitcoin. Normal people all rushing in. Only reason for the massive gains as people buy the dream, price of bitcoin rising purely down to speculation. When it crashes loads of Joe and Joanne Public are going to get wiped out instantly.

So yes, bitcoin and the alts could bring the whole house of debt cards down.

Than again, the more people that get burned by this fear of missing out on bitcoin's once in a lifetime opportunity, the cheaper it will be to invest in the cryptocurrency that emerges from the ashes with a proper scalable world dominating solution that is a long term proper investment.

[lukemg]

The rather ungracious phrase is - 'here comes the stupid money'....

Doesn't mean it still won't bounce higher, could go 100k or back to zero. I can't guess which and have missed this boat.
There will be individual tragedies of greed and tales of people scoring it rich if they can cash out in time but it won't affect anything bigger than this. It is widely distributed amongst individuals and doesn't affect any organisation that would cause me pain.

[Jog On]

The rather ungracious phrase is - 'here comes the stupid money'....

Doesn't mean it still won't bounce higher, could go 100k or back to zero. I can't guess which and have missed this boat.
There will be individual tragedies of greed and tales of people scoring it rich if they can cash out in time but it won't affect anything bigger than this. It is widely distributed amongst individuals and doesn't affect any organisation that would cause me pain.

You haven't missed the boat.

[BrilloPad]

You haven't missed the boat.

The gravy boat for those cashing out?

[Jog On]

The gravy boat for those cashing out?

Too early for that.