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Bitcoin peaks above $5,000 for first time
Bitcoin has crossed the $5,000 (£3,862) threshold for the first time. The virtual currency peaked at $5,103.91 in the early hours of Saturday, according to CoinDesk's price index. The record high helped push the total value of publicly traded crypto-currencies - including Ethereum and the Bitcoin-offshoot Bitcoin Cash - to more than $176bn. However, there has since been a sell-off. At time of writing, Bitcoin was 12% off its peak, at $4,485.
According to coindesk.com, one Bitcoin is worth $4085.63 at this moment (20170905_023428 UTC).
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Value of One Bitcoin Hits $5,000... Briefly
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Grelb's Reminder:
Eighty percent of all people consider themselves to be above
average drivers.
(Score: 2) by fishybell on Tuesday September 05 2017, @11:03PM (2 children)
There is no such thing as intrinsic value, for anything, other than perhaps ones own life.
As such, we typically apply "value" to mean "what someone is willing to pay for it," which in this case means $5,000 for some numbers. A bit crazy, but still the cost people pay is very much the value of it.
(Score: 0) by Anonymous Coward on Wednesday September 06 2017, @05:22AM (1 child)
Suckers and/or criminals. I haven't seen a whole lot of real use for it, especially with how volatile the market is. Seems more like an investment fad to prop up some bullshit businesses and some actual hardware sales.
(Score: 2) by Snow on Wednesday September 06 2017, @03:06PM
Bitcoin is still young. Think pre WWW internet.