Passing the ten grand mark is going to lead a great many naive investors to get into cryptocurrency out of "the fear of being left behind".
It started the year at $1000, but back then I was still duking it out with procrasti.
I still don't agree that bitcoin is money, but I am willing to concede that a lot of other people think it is.
Even so, LiteCoin is up a greater percentage than is bitcoin. My position is now ALL LiteCoin - all $108.90 of it!
I have decided to move my dollars to that one of BitCoin, Ethereum and LiteCoin that has gained the greatest percentage in the previous day.
That doesn't work so well with Coinbase's $2.99 transaction fee. I can't buy bitcoin with lite coin there - I have to go through my USD account so I pay for two transactions -$5.98.
But I'm expecting my wire to arrive from China on Friday, Monday at the latest.
When it gets here I'm going to buy ten grand of cryptocurrency. With that much money the transaction fees will be negligible.
Many think its a bubble. I feel that it is in a way, but in another way it's not. The price is being driven up by increasing numbers of speculators. But at the same time increasing numbers of online merchants accept bitcoin as payment - 100,000 merchants so far.
Even if the speculators flee the cryptos, there will still be lots of demand so you can pay merchants world-wide without dealing with foreign currency exchange, or the credit card vendors asinine policy of charging a fee for foreign transactions.
Look you ignorant mother fuckers: it's the WORLD WIDE web, not just a series of tubes.