Bitcoins

JohnRo

manhattan wrote: »

Do you think the governments are feeling threatened by BTC?

Germany isn't, some others clearly are, the people who are really threatened by incorruptible democratic money are those with privileged access to their own monopoly money printing presses.

Nothing fundamental has changed, this is just a shake out and probably orchestrated by those who need to see btc discredited, but no way to know that of course.

** what may be starting to happen is the fight, banking institutions clinging to their turf by the only means they have to fight btc, refusing to deal with it.

"First they ignore you, then they laugh at you, then they fight you, then you win"

mystic_trev

I think you're all wrong. I'm sure dryhat said the bitcoin would be worth $2,000 by Christmas!

I wonder where he is?

System

Isn't one of the prerequisites for something being defined as "money" that it's value stays reasonably constant, at least within a country?
The Chinese appear to have made the point rather neatly that Bitcoins aren't.

notanewuser

Not bothered. Cost DH pennies to mine the stocks he has (from 2009). We don't need to cash them in so can sit and watch the roller coaster.

This isn't news!!!

black_taxi_2

This week, Bank of America Merrill Lynch currency strategist David Woo initiated coverage of Bitcoin, assigning a $1,300 fair value.

"We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers," wrote Woo in a 14-page note to clients. "As a medium of exchange, Bitcoin has clear potential for growth, in our view."


Bitcoin fell from a high of $1,079 to a low of $576 today. This is according to data from Mt. Gox. Also, this represents a breathtaking 46% crash.

Currently, Bitcoin is back to the $700 level. This is still down a whopping 35%.

The sharp moves come in the wake of China's clampdown on the controversial digital currency.

Earlier this week, the People's Bank of China announced it was barring the country's banks from handling the Bitcoin

ruggedtoast

notanewuser wrote: »

Not bothered. Cost DH pennies to mine the stocks he has (from 2009). We don't need to cash them in so can sit and watch the roller coaster.

This isn't news!!!

It is news. Because currently something that was selling for a lot and that a lot of people bought into is plummeting.

The froth has been blown off the bitcoin mug. People who bought in late are going to panic.

There could be no floor to bitcoins. Don't assume your rollercoaster has any more ups.


Itsa me, Mario. My bittacoins is alla worthless and I am glum

Loughton_Monkey

mystic_trev wrote: »

I think you're all wrong. I'm sure dryhat said the bitcoin would be worth $2,000 by Christmas!

I wonder where he is?

He's down the bitcoin mine. Blowing bubbles.

vivatifosi

Loughton_Monkey wrote: »

He's down the bitcoin mine. Blowing bubbles.

What? Michael Jackson's monkey? Ewww....

notanewuser

ruggedtoast wrote: »

It is news. Because currently something that was selling for a lot and that a lot of people bought into is plummeting.

The froth has been blown off the bitcoin mug. People who bought in late are going to panic.

There could be no floor to bitcoins. Don't assume your rollercoaster has any more ups.


Itsa me, Mario. My bittacoins is alla worthless and I am glum

If he sold for £10 each he'd still be in profit. We didn't buy anything. He mined them. All they cost was a few hours of electricity.

chewmylegoff

vivatifosi wrote: »

What? Michael Jackson's monkey? Ewww....

A new low. I expect better from you Viva. Surely you can tell the difference between a monkey and a chimpanzee?