Bitcoin's price surges to over $17,000 as the currency begins futures trading

[WYP]

Is Bitcoin finally becoming a legitimate currency?



Read more on Bitcoin's price increase following its entrance into the futures market.

 

[Aussiejuggalo]

This is pretty good news for Bitcoin and goes to show that it's not just a "bubble".

The Bitcoin devs have to increase the block size from 1MB though otherwise fees are going to get out of control pretty quickly, a few weeks ago the automatic fees were almost $30 for a $50 transaction which a lot of people were paying because they don't know or don't care about manual fees.

 

[NeverBackDown]

It's a bubble so long as nobody uses it. It can have $1 billion USD/Euro/Yen/whatever worth but until it's actually being used it's a bubble built on hype and people getting into it to get rich quick. Soon it will crash. Then bounce back again. It is a never ending cycle until governments allow it instead of fighting it.

 

[DARKSF]

It is not a currency since no body will trade their stuff in something that is jumping up and down around 10% a day.
It is trading instrument.Like the ones that led to the financial crisis a decade ago.And while the Mortgage Securities had some physical component like the houses on mortgage the bitcoin has nothing. It only has the promise that it might become a real currency.And with taxes of over 20$ for transaction i don't see it as the replacement of everyday currency.Can you imagine taking a chocolate for 0.90$ and paying 20$ transaction fee ?!
It will burst , this year ,next year after 2 years but it will burst like any other thing that gets overevaluated.The only difference here is that most governments this time won't jump to save anyone cause that is unregulated marked.Some will win big time from the bitcoin lottery but many more people will loose.
And if you think that governments will accept to operate with currency not regulated by them you are just plain blind about the politics.Cryptocurrency will become the standard one day but that won't be the bitcoin but government created and regulated ones.And it will take time cause a currency that can be easily traced means a corruption that can be easily killed