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Bitcoin Price (BTC - USD)

7,306.59
 USD
-151.06
(-2.03%)
03:13:00 PM
EDT
Market Cap
124.68 B
Circ. Supply
17.06 M
Volume
5.02 B
Max. Supply
21.00 M
Day Low
Day High
7,100.51
7,555.78
7,306.59
52 Week Low
52 Week High
1,851.87
19,843.11
7,306.59

People are so obsessed with trading cryptocurrencies that a hospital just launched a program to treat addictive behavior

Business Insider 2h

Since bitcoin first appeared nearly a decade ago, cryptocurrencies have transformed internet culture. Online, crypto traders and blockchain enthusiasts eagerly swap anecdotes regarding market speculation and upcoming token offerings, and the crypto culture has spilled out into the world at large as well, inspiring thousands of summits, meet-up groups, and conferences worldwide.

But there's a downside to that cryptocurrency culture that a rural Scottish hospital is hoping to address: Cryptocurrency trading addiction.  ...

CONTINUE READING

NEWS FOR BITCOIN PRICEMore

People are so obsessed with trading cryptocurrencies that a hospital just launched a program to treat addictive behavior
Business Insider 2h
The Feds just charged a 'blockchain evangelist' who raised $21 million while claiming to work with Disney and Apple
Business Insider 18h
Crypto is making a comeback as Italy's political crisis mounts
Business Insider 1d
Inside the Wild West of a cryptocurrency awards show, where people wondered if they were being scammed and the police kept stopping by
Business Insider 4d
CRYPTO INSIDER: An exclusive interview with JPMorgan's 29-year-old head of crypto strategy
Business Insider 5d
CRYPTO INSIDER: Feds reportedly open criminal probe into crypto prices
Business Insider 6d
The surging dollar could push oil prices off a cliff as soon as next year
Business Insider 6d
The Turkish lira is plunging after an emergency rate hike
Business Insider 6d

INFO ON Bitcoin

Trade Time
03:13PM
Daily High
7,555.7798
Trade Date
5/30/2018
Daily Low
7,100.5098
Open
7,461.5200
52-week High
19,843.1094
Prev. Close
7,457.6499
52-week Low
1,851.8700
Market Cap
124.68 B
Volume
5.02 B
Circ. Supply
17.06 M
Max. Supply
21.00 M

BITCOIN HISTORICAL PRICES

Date Close Open Day High Day Low
5/29/2018 7,457.6500 7,116.1001 7,522.3301 7,100.5098
5/28/2018 7,111.3200 7,353.6499 7,437.2402 7,088.5601
5/27/2018 7,352.2900 7,344.7598 7,397.9902 7,247.2598
5/26/2018 7,345.9600 7,471.5298 7,553.8301 7,320.2598
5/25/2018 7,472.0800 7,579.0200 7,602.4902 7,373.9502
5/24/2018 7,578.9100 7,511.4199 7,726.3999 7,284.3398
5/23/2018 7,517.1100 7,994.3901 8,032.2402 7,470.9102
5/22/2018 7,997.1700 8,401.3398 8,406.4697 7,967.7598
5/21/2018 8,400.2500 8,516.6201 8,569.0195 8,332.0303
5/20/2018 8,516.1200 8,230.4600 8,574.0801 8,177.0200

BITCOIN CURRENCY CONVERTER More

From
To
Date Amount

About Bitcoin Price

What is Bitcoin? By Markets Insider

Bitcoin keeps coming back in the headlines. With any Bitcoin price change making news and keeping investors guessing.

In countries that accept it, you can buy groceries and clothes just as you would with the local currency. Only bitcoin is entirely digital; no one is carrying actual bitcoins around in their pocket.

Bitcoin is divorced from governments and central banks. It's organized through a network known as a blockchain, which is basically an online ledger that keeps a secure record of each transaction and bitcoin price all in one place. Every time anyone buys or sells bitcoin, the swap gets logged. Several hundred of these back-and-forths make up a block.

No one controls these blocks, because blockchains are decentralized across every computer that has a bitcoin wallet, which you only get if you buy bitcoins.

Why bother using it?

True to its origins as an open, decentralized currency, bitcoin is meant to be a quicker, cheaper, and more reliable form of payment than money tied to individual countries. In addition, it's the only form of money users can theoretically "mine" themselves, if they (and their computers) have the ability.

But even for those who don't discover using their own high-powered computers, anyone can buy and sell bitcoins at the bitcoin price they want, typically through online exchanges like Coinbase or LocalBitcoins.

A 2015 survey showed bitcoin users tend to be overwhelmingly white and male, but of varying incomes. The people with the most bitcoins are more likely to be using it for illegal purposes, the survey suggested.

Each bitcoin has a complicated ID, known as a hexadecimal code, that is many times more difficult to steal than someone's credit-card information. And since there is a finite number to be accounted for, there is less of a chance bitcoin or fractions of a bitcoin will go missing.

But while fraudulent credit-card purchases are reversible, bitcoin transactions are not.

21 Million

Bitcoin is unique in that there are a finite number of them: 21 million. Satoshi Nakamoto, bitcoin's enigmatic founder, arrived at that number by assuming people would discover, or "mine," a set number of blocks of transactions daily.

Every four years, the number of bitcoins released relative to the previous cycle gets cut in half, as does the reward to miners for discovering new blocks. (The reward right now is 12.5 bitcoins.) As a result, the number of bitcoins in circulation will approach 21 million, but never hit it.

This means bitcoin never experiences inflation. Unlike US dollars, whose buying power the Fed can dilute by printing more greenbacks, there simply won't be more bitcoin available in the future. That has worried some skeptics, as it means a hack could be catastrophic in wiping out people's bitcoin wallets, with less hope for reimbursement. Which could render bitcoin price irrelevant.

The future of bitcoin

Historically, the currency has been extremely volatile. But go by its recent boom — and a forecast by Snapchat's first investor, Jeremy Liew, that it will hit a bitcoin price of $500,000 by 2030 — and nabbing even a fraction of a bitcoin starts to look a lot more enticing.

Bitcoin users predict 94% of all bitcoins will have been released by 2024. As the total number creeps toward the 21 million mark, many suspect the profits miners once made creating new blocks will become so low they'll become negligible. With bitcoin’s price dropping significantly. But with more bitcoins in circulation, people also expect transaction fees to rise, possibly making up the difference.

The fork

One of the biggest moments for Bitcoin came in August 2017. When the digital currency officially forked and split in two: bitcoin cash and bitcoin.

Miners were able to seek out bitcoin cash beginning Tuesday August 1st 2017, and the cryptocurrency-focused news website CoinDesk said the first bitcoin cash was mined at about 2:20 p.m. ET.

Supporters of the newly formed bitcoin cash believe the currency will "breath new life into" the nearly 10-year-old bitcoin by addressing some of the issues facing bitcoin of late, such as slow transaction speeds.

Bitcoin power brokers have been squabbling over the rules that should guide the cryptocurrency's blockchain network.

On one side are the so-called core developers. They are in favor of smaller bitcoin blocks, which they say are less vulnerable to hacking. On the other side are the miners, who want to increase the size of blocks to make the network faster and more scalable.

Until just before the decision, the solution known as Segwit2x, which would double the size of bitcoin blocks to 2 megabytes, seemed to have universal support.

Then bitcoin cash came along. The solution is a fork of the bitcoin system. The new software has all the history of the old platform; however, bitcoin cash blocks have a capacity 8 megabytes.

Bitcoin cash came out of left field, according to Charles Morris, a chief investment officer of NextBlock Global, an investment firm with digital assets.

"A group of miners who didn't like SegWit2x are opting for this new software that will increase the size of blocks from the current 1 megabyte to 8," Morris told Business Insider.

To be sure, only a minority of bitcoin miners and bitcoin exchanges have said they will support the new currency.

Investors who have their bitcoin on exchanges or wallets that support the new currency will soon see their holdings double, with one unit in bitcoin cash added for every bitcoin. But that doesn't mean the value of investors' holdings will double.

Because bitcoin cash initially drew its value from bitcoin's market cap, it caused bitcoin's value to drop by an amount proportional to its adoption on launch.

The future of bitcoin and bitcoin’s price remains uncertain. It could go to a $1,000,000 or it could go to $0. No one truly knows.

MOST VIEWED CURRENCIES

most viewed US-Dollar Euro JPY GBP
Name % Price Date
EUR/USD
0.9613 1.1658 03:09 PM
05/30/2018 03:09:00 PM UTC-0400
GBP/USD
0.1976 1.3283 03:09 PM
05/30/2018 03:09:00 PM UTC-0400
USD/CAD
-1.0603 1.2878 03:09 PM
05/30/2018 03:09:00 PM UTC-0400
USD/CHF
-0.1211 0.9894 03:09 PM
05/30/2018 03:09:00 PM UTC-0400
USD/JPY
0.2855 108.9090 03:09 PM
05/30/2018 03:09:00 PM UTC-0400
USD/MXN
-0.3018 19.7904 03:09 PM
05/30/2018 03:09:00 PM UTC-0400
USD/INR
-0.5151 67.4667 03:09 PM
05/30/2018 03:09:00 PM UTC-0400
USD/RUB
-1.3105 62.0440 03:09 PM
05/30/2018 03:09:00 PM UTC-0400
BTC/USD
-2.0256 7,306.5898 03:13 PM
05/30/2018 03:13:00 PM UTC-0400
ETH/USD
-3.2513 546.4231 03:13 PM
05/30/2018 03:13:00 PM UTC-0400

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