GBTC....what the heck?

[mrmarket]

I posted this link in the other bitcoin thread too, but I watched half of this long video today about Bitcoin. Mind = blown. I keep coming back to trust. I understand who is behind the dollar, but in essence, it is the Borg (sorry, Star Trek reference) behind Bitcoin. I don't see how it will stay secure. It is encrypted and secure NOW, but as it grows, it will be a bigger and bigger target. Big targets are where the bast hackers like to be. How long until one of them cracks it, gives themself 40,000 bitcoins and crashes the market?

Here is the video: https://youtu.be/N6NscwzbMvI

agree completely...also every hacker wants to be known as the guy who hacked Bitcoin...soft target, in my mind.

[jiesen]

I got out last week...

And now GBTC is at $2700, or practically double what you paid for it. What's a 100% monthly rate annualized? Oh yeah, that's 410,000%. Talk about crazy bubble-prices! There just has to be a turning point on this one, like... soon.

[jiesen]

And now GBTC is at $2700, or practically double what you paid for it. What's a 100% monthly rate annualized? Oh yeah, that's 410,000%. Talk about crazy bubble-prices! There just has to be a turning point on this one, like... soon.

Up so fast, but down even faster! Just like that, a 50% drop from the peak this week of 3500, back down to around 1750 today... whew, what a roller-coaster ride with this one!