With Bitcoin’s price currently hovering around $9,400 on Coinbase, it’s time for the obligatory “it’s over 9000” post. Bitcoin’s value has been increasing steadily over the past 48 hours, hitting new all-time highs nearly hourly—and it doesn’t look like it’s slowing down. Let’s all pause and remember that one bitcoin cost a mere ~$700 just one year ago!
The rapid recent price inflation is probably due to the “Thanksgiving effect”. Holidays are a prime opportunity for tech-saavy family members to extol the virtues of cryptocurrency to less technology-literate relatives. I’d wager that quite a few Thanksgiving dinner discussions revolved around Bitcoin, which caused masses of newly-exposed people to invest (Coinbase reportedly added over 100,000 new users on Thanksgiving).
It’s not just Bitcoin that’s up—cryptocurrency in general has seen double-digit gains over the past week. Ethereum and Litecoin are actually both up more than Bitcoin, at ~30% and ~20% respectively.
I’ve been telling people for months that 2018 will be the year of the five-figure Bitcoin. It looks like I was probably wrong—at this rate, we’re going to see Bitcoin top $10,000 before 2017 is over.
Hadn’t thought about the Thanksgiving effect, but cryptocurrency was discussed around our feast. Meanwhile the mining rig hummed along in the basement.
Yes, it is!
On a different note has anyone tried mining with the Radeon VII, will it mine on linux with the 580 drivers? Anyone tried to mod the BIOS?