Bitcoins

grey_gym_sock

bitcoin is also used legitimately. since its use is untraceable, the relative sizes of legal and illegal use of bitcoin are entirely a matter of speculation (pun intended).

ppl may well be trying to ramp up the price of bitcoins. just as ppl sometimes try to ramp the share price of a small, speculative company. that doesn't imply there's anything wrong with what the company, or bitcoin, is trying to do. but it is something that ppl should be aware of.

mkooo

Bitcoins are £35 each at the moment, were $200 just a week or so ago...

Anyone going to buy any?

Source: https://mtgox.com/index.html?Currency=GBP

andy.m_2

Yes, but I have another avenue open to me that wasn't before.

sabretoothtigger

bitcoin is even more extreme then gold. If gold really crashed I could at least buy a cheap ring or some chains for my Mr T outfit , but whats my benefit from a cheap something not unique, not real and not usable.

Any capitalist system has to have a benefit to the buyer and seller. It cant be biased or it collapses, ala housing boom you know that was a problem before prices fell. So bitcoin has to give something back, its fallen and who benefits now and if no one gains you know the answer

List the products that just became cheaper in line with cheaper bitcoin and we can decide much better if this is something likely to recover from innate demand.
Its more worthy then a lottery ticket

mkooo wrote: »

Bitcoins are £35 each at the moment, were $200 just a week or so ago...

Anyone going to buy any?

Source: https://mtgox.com/index.html?Currency=GBP

quick look at the chart and I'd say £55 is an important point there. Its likely more accurate to consider in dollars then decide sterling separately
Most markets are best done on weekly bars as the price isnt traded on weekends, bitcoins never close ?

UsernameAlreadyExists

dryhat

Max Keiser's latest show.....

http://rt.com/shows/keiser-report/episode%20432-888/


all about bitcoin.

very interesting and informative

andy.m_2

Heroin is cheaper now the BTC price has capitulated.

sabretoothtigger

If thats really true, maybe thats enough. I would guess the drugs trade is bigger then bitcoin market cap

padington

andy.m wrote: »

Heroin is cheaper now the BTC price has capitulated.

I bet it is, it's the decentralisation of the drug trade, it's going to have sweeping implications.

Already has actually, I know someone that bought a couple of tablets with them and they said it was a best stuff they've ever had in their life. Being able to buy drugs with the same consumer feedback and recommendation systems that we have become accustomed to like on eBay and amazon is showing the war against drugs as being an absolute catastrophic failure.

The bit-coin is here to stay big time and the implications of it are epic. I reckon the development of the bitcoin ( or another similar black market digital currency ) may become the most significant development of the 21st century - for better or worse.

grey_gym_sock

padington wrote: »

I know someone that bought a couple of extasy tablets with them and they said it was a best stuff they've ever had in their life.

well, perhaps they expected the tablets to be great because they'd paid in bitcoins. a bit like ppl who "prefer" coke to pepsi, but can't tell the difference in blind tests.