Bitcoin soars above $1,700 as market cap adds $1 billion in just 24 hours

 

The record high value of bitcoin recently reach over $1700 as of the morning of May 9th 2017.   In just the past year, the market capitalization for bitcoin has increased massively, from around $7.16 billion in May 2016 to $27.9 billion today. In just the last 24 hours its market capitalization has risen by over $1 billion, according to the coindesk.com.

Since I invested in bitcoin in 2011, when the price was only $7 per coin, the growth since I got in has been 24,185%  (yes, that is twenty four thousand one hundred and eight five percent).
Of course it is well known that I love to see people succeed, it is sort of a hobby of mine.  So I have been an evangelist since late 2011 and I have made many demonstrations how to create bitcoin (mining), how to sell items online for bitcoin, how to invest in bitcoin, and how to protect your bitcoin.

I am sad to see that many of the people that I sent bitcoin and bitcoin miners to, never utilized this awesome knowledge.  Some people that I inspired did very well however, and that makes me exceedingly happy.

My biggest joy in seeing bitcoin flourish, is that bitcoin is a great alternative to centralized banking.  Centralized banking, and fiat currency have so many flaws and weaknesses, that it seem especially dangerous to put a lot of trust in to the current economic system that is presently based on centralization, and fiat currency.  I always tell my family “Never put all of our apples in one basket” and it is best in my opinion to diversify your investment portfolio, just incase one investment or another has failure.
Beyond that, it is philosophical for me as I have advocated for capitalism all of my adult life,and this is true free market capitalism illustrated in a working commodity.
People wonder how I could call bitcoin a commodity, and that in itself means different things to different people who share this point of view.  However unlike a dollar bill that has value based on trust alone.  Bitcoin has a huge infrastructure of computers and energy behind it for the block chain (ledger), and that block chain also serves very unique functions, such as encrypting and dating contracts, sending encrypted messages, as well as securing an anonymous exchange in digital format.  There is a lot more depth to it, however bitcoin is not just a worthless piece of paper, it is much much more.

I get a lot of questions about bitcoin, and that is why I created this website Capitalism Tools.   You can see a page that I dedicated to bitcoin and various other kinds of investments on this site @ CapitalismTools.com/tools

The often circulated quote “You give a man a fish, he eats for a day.  You teach a man to fish he eats for a lifetime” comes to me, when I think about just bailing someone out of their situation.   That is why I have went to lengths to teach people how to prosper.  Rather than just giving people bitcoin (which I have done, and they took it for granite or didn’t take it seriously) I started teaching people about bitcoin.

I will to share my bitcoin videos on this site, because I haven’t before and I am currently getting a lot of activity here from people who want to change their lives.

I also am announcing that I am also planning on doing more indepth bitcoin and investing tutorials and I will charge a fee on patreon for access to them.
You can find my patreon page here:   http://patreon.com/clovistribe

As a result of all of  these years of making media and helping people with my personal life lessons which have proved to be very profitable, I have not monetized any of my tutorials on Youtube or anywhere else for that matter.  I didn’t monetize the media, because I didn’t want to get caught up in being a youtuber.  I am more interested in economic theory and helping change the world for the better.   However, I am going to change things up a bit.  In order to free up more of my time, to do these kinds of tutorials, I am going to start monetizing my videos and my content with ads.  I definitely do not want to overwhelm my pages or videos with crappy ads, so I will keep it to a minimum.  It does seem to be the right thing to do, as it costs me a lot to hosts my websites, renew domain names, advertise, and it takes a lot of time out of my day.   So if my content is valuable to you, feel free to tip me.  🙂

That being said, I hope that you will subscribe to me on patreon, and I will continue to do my best to bring you the best content I am able to regularly.

You can also donate bitcoin here:


Here is a collection of videos that I have done over the years to illustrate how bitcoin has worked for me;

Thomas Edison’s renegade currency – Bitcoin infomercial

Making purchases with bitcoin part 1 – Real world market solutions

Making purchases with bitcoin part 2 – Real world market solutions

Funding Campaigns Using Bitcoin without any money! V2 Shorter version

The US Dollar is Dead – The Global Elite Actively Crashing the Dollar – What next?

xCannabisOnline Market Economy

How Do Cannabits Work – xCannabis Digital Economy

Bitcoin Install and Update on Ubuntu Linux ( my experience )

Using Open Source Currency To Trade (online and offline)

Commodity Report 10/15/2012

Commodity Report 09/15/2012

xCannabis Tuesday Commodities report

Funding Campaigns Using Bitcoin

Avalon Series 4 – 100 Gh/s bitcoin miner