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lol virtual money....
why not just get US currency those idiots
Bitcoin Tops $200 For First Time
inutes without explanation. Bitcoin's rapid rise has also fueled concerns that it is just experiencing a bubble, which could pop at any moment.The value of Bitcoin, the much-buzzed about digital currency, hit $200 on Tuesday for the first time, more than doubling in a just over a week.
Bitcoin's value has exploded in recent weeks fueled in part by economic uncertainty in Europe and an increasing amount of media coverage of the currency, which has been around since 2009. As you can see in the chart below, Bitcoin's value went from just more than $30 at the end of February to $100 in the very beginning of April and it is currently hovering around $210.
Bitcoin passed another big milestone this week as well. The total value of all Bitcoins in circulation — nearly 11 million of them — topped $2 billion for the first time and is now more than $2.3 billion.
While Bitcoin has enjoyed incredible growth recently, the currency has also suffered sudden and severe drops in value. The currency lost more than a quarter of its value last week after the largest market for trading Bitcoins suffered an outage, and it dropped by 10% on Monday in a matter of m
Read more: http://mashable.com/2013/04/09/bitcoin-hits-200
In the wake of what happened in Cyprus citizens in places like Spain or Italy or Slovenia are probably worried that, now that the precedent has been set, their own savings are at risk of being plundered by b-Euro-crats.
Thus, fueling this e in bitcoins.
lol virtual money....
why not just get US currency those idiots
No doubt Wall St speculators are in this game now that the game is in the $Bs.
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Old Lady's gold habit, the gold that may be leaving Cyprus' central bank (or not) and Confucius' famous saying: "IMF STUPID SELL TO GOLD, I'M BUYING." They also look at the Federal Reserve data accidentally sent to Wall Street bank lobbyists and the venture capitalists entering the new Land Grab. In the second half of the show, Max Keiser talks to James Turk about money, gold, bitcoin, currency wars and the nature of bank failures: to look good until the bank fails overnight. They also discuss Austrian school theories on money and how they relate to gold and to bitcoin.
Greenspan Says Bitcoin a Bubble Without Intrinsic Currency Value
Source: Bloomberg
Read more: http://mobile.bloomberg.com/news/201...ncy-value.htmlFormer Federal Reserve Chairman Alan Greenspan said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isn’t currency.
“It’s a bubble,” Greenspan, 87, said today in a Bloomberg Television interview from Washington. “It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.”
.......
"I do not understand where the backing of Bitcoin is coming from,” the former Fed chief said. “There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it’s a government or an individual.”
NOW he recognizes a bubble when he sees one?
Suspected Bitcoin fraudsters have been taken into police custody in Germany and China.
moreThe German authorities say they arrested two people following an investigation into malware that generated the virtual currency by infecting its victims' PCs.
Xinhua reports three people have been detained in China after a trading platform was shut without warning, cutting off investors from their funds.
The cases do not appear to be related.
http://www.bbc.co.uk/news/technology-25217386
If trustworthiness created intrinsic value then wy do we he US dollars? There's never been a more corrupt, hated government with 6% approval ratings ever. Even corrupt tyrannical regimes have the support of a 20-30% minority usually. I think ing will pop too but that line is just hilarious. That's not the reason why.
1. The US has never defaulted on interest ir balanced owed....If trustworthiness created intrinsic value then wy do we he US dollars?
2. The US dollar is the petro-dollar and lots of countries reserve currency.
3. The US dollar is backed by the might of the US military
.....
1) came close
2) won't last
3) lol can't bully everyone forever, won't kast
Psychos in charge are out of control, wouldn't be surprised to see serious devaluation in the coming decade
Lol use the dollar, or else! Merica, yeah! etc isn't sound monetary policy dan
bitcoin aint back up by anything, not gold or any asset...
lol paying for pixels...
Bank of America deems Bitcoin the next big thing
In a new report, the bank says that the virtual currency could ultimately be
worth $1,300 per coin and become a "major means of payment for e-
commerce."
by Dara Kerr December 5, 2013 3:36 PM PST
Read more: http://news.cnet.com/8301-1023_3-576...ext-big-thing/It appears not only people in the tech world believe Bitcoin is the currency of the future -- one of the US' biggest banks also sees legitimacy in the virtual currency.
Bank of America published its first research report (PDF) on Bitcoin on Thursday saying that the digital currency could become a major contender to other types of online money-transfer providers.
"We believe Bitcoin could become a major means of payment for e-commerce and may emerge as a serious compe or to traditional money-transfer providers," Bank of America wrote in its report. "As a medium of exchange, Bitcoin has clear potential for growth, in our view."
-snip-
The call went out on Twitter: “For insane profits come and join the pump.”
It was an invitation to a penny stock-style pump-and-dump scheme — only this one involved Bitcoin, the soaring, slightly scary virtual currency that has beckoned and bewildered people around the world.
While such bid ’em up, sell ’em off scams are shut down in the financial markets all the time, this one and other frauds involving digital money have gone unchecked. The reason: Government authorities do not agree on which laws apply to Bitcoin — or even on what Bitcoin is.
The person behind the recent scheme, a trader known on Twitter as Fontas , said in a secure Internet chat that he operated with little fear of a crackdown.
For insane profits come and join the pump, there is no obligation to but it’s nice to be on the right side of a price movement
Source: http://dealbook.nytimes.com/2013/12/...-the-law/?_r=0
lol tulips. lol Emus.
Bloomberg anchor gets Bitcoin on live TV and is promptly robbed by a viewer
http://www.rawstory.com/rs/2013/12/2...d-by-a-viewer/A business news anchor who was given a Bitcoin certificate on air was promptly robbed after he briefly displayed the digital currency.
Bloomberg TV anchor Matt Miller gave two colleagues, Adam Johnson and Trish Regan, $20 in digital currency in a “12 Days of Bitcoin” segment.
But Johnson unwittingly displayed the digital QR code for his money to the camera, and a viewer was able to use the private key to take his Bitcoin.
Nbadan called it.
Bitcoin Prices Plummet
The price of bitcoin has plummeted in the wake of an announcement from China’s largest bitcoin exchange that it would no longer be accepting new Yuan deposits.
BTC China said, that due to action by a third-party payment provider, YeePay, it could no longer accept deposits in the Chinese currency, although it would still be able to process withdrawals. BTC’s chief executive, Bobby Lee, said that YeePay gave notice on Wednesday morning, that it would no longer be providing services. Lee blamed government regulation for the decision. On 18 November, BTC China raised $5m in a funding round from ins utional investors Lightspeed. Until then, it had been self-funded by its three co-founders, who started the site back in June 2011.
China’s central bank warned in early December that bitcoin was not legally protected and had no “real meaning” and barred financial ins utions from using the currency. On Tuesday this week, the central bank extended the ban to include payment companies such as YeePay and gave them a deadline of Chinese New Year, 31 January 2014, to comply with their regulations.
At source publication time, the value of one bitcoin on BTC China stood at ¥2,630 (£266.02), down from a high of ¥7,395 (£741.70) in late November. Bitcoin has plummeted against other currencies during the same period, dropping from £750 to £300 in the UK and from $1242 to $480 in the US.
Bitcoin remains legal to use in China and the central bank is sticking by their announcement that individuals are free to trade it (at their own risk). However, without any third party payment providers, any new purchases of the currency seem to be impossible.
This raises doubts about the future of bitcoin. The great boom in value that the currency has seen this autumn is widely thought to be as a result of Chinese users adopting it as currency. Supporters of bitcoin have always argued that the currency is impossible to fully ban, because it exists as a decentralised network of transactions. A ban may be academic though, if the currency is rendered useless to merchants and customers by its devaluation.
the fkn oxymorons who heavily invested into this , is trying to make it legal tender form of transaction
nobody has even adapt to it, while the early adopters are losing out with deflation of the currency...fkn nerds trying to sell up assets only accepting bitcoin as form of transaction just to prop up their current holdings which is dead weight
Paul Krugman is scared. He says “Bitcoin is evil.” Undermines central banks.
Dr. Krugman fears that Bitcoin was created to further a “libertarian agenda,” undermining central banks and their power.
Well, he’s actually pretty right. It wasn’t created to further a libertarian agenda per se, but it certainly was created to challenge the central banks of the world. A pretty lofty and worthwhile goal as far as I am concerned. What’s crazy is that Bitcoin actually is challenging central banks to some degree.
Paul Krugman and technology don’t mix very well. For instance in 1998 the esteemed economist had this to say about the Internet;
”The growth of the Internet will slow drastically, as the flaw in “Metcalfe’s law”–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.”
Actually Paul Krugman and economics don’t mix very well. But he gets to write a column in the New York Times every week so people listen to what he says. (Including me.) Even if he is consistently wrong or non-committal on important points where he should be clear.
If Bitcoin succeeds, great. The world will be better for it. If it fails another version will come along quickly. We’ve passed the point of turning back with virtual currencies. They will be a part of economic life going forward.
What Krugman fears is that these alternative currencies will undermine not only the central banks, but more importantly for him, the “state.” He fears that people will opt out of the dollar. That the ability of the Federal Reserve to print will be limited by the unwashed masses who simply want their money to be worth something. God forbid. This in turn puts Krugman’s dream of a statist coercive “utopia” at risk.
I prefer gold and silver, but in a marketplace I say let new entrants make their case. Bitcoin makes a compelling case. Very compelling. So compelling that statists like Paul Krugman are fretting. Which is of course wonderful.
The jury’s out on Bitcoin, but if Krugman doesn’t like it there is a good chance that it will do well.
theres no such thing as virtual currency, bitcoin is just a scam
ecommerce today and banks have no problem doing transactions with ur nominated choice of currency for the transaction...
True, but there are millions of suckers born every year.
Who wouldn't want the stability of a currency that has changed in value by nearly 12,000% in two years?
Bitcoin is SO Myspace.
This is the wave of the future...
http://noisey.vice.com/blog/screw-bi...ncy-on-the-way
After Zynga announcement, bitcoin price tops $1,000
http://touch.latimes.com/#section/17.../p2p-78792467/
More technical glitches...
Major bitcoin exchange crashes, takes bitcoin prices with it
Source: LA Times
Read more: http://touch.latimes.com/#section/-1.../p2p-79212267/Bitcoin prices have crashed over the last few days--again!--this time because Mt. Gox, a major bitcoin exchange headquartered in Tokyo, abruptly announced it was suspending all withdrawals for "technical" reasons.
Mt. Gox said the suspension was temporary, but didn't say when customers' funds would again be available. It promised there will be an "update," though not a resolution, on Monday.
On the news, bitcoin prices have plunged--the virtual currency, which had been quoted at $1,038 on Mt. Gox as recently as Jan. 26, fell below $700 Friday before settling in the mid-$700s.
Whether you're into bitcoins as an investment, a speculative play, a genuine alternative to dollars, euros or yen, or as a device to move money across national borders without worrying about currency exchange regulations, that's not the sort of price action you want to see in your financial instrument--especially not if it's caused by the problems of an unrelated operator in Tokyo.
Who is attacking bitcoin exchanges with massive dos attack?
Andreas Antonopolous is chief security officer at Blockchain.info, a popular Bitcoin wallet service, and he tells CoinDesk that numerous Bitcoin exchanges are experiencing a "massive and concerted" denial of service attack right now.
This is a type of attack on one's digital real estate in which nefarious hackers bombard servers with junk requests over and over until they become useless. It's akin to filling a glass of water until it overflows.
In Antonopolous' words: "As transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there."
In other (simpler) words: this attack may cause Bitcoin to behave weirdly.
He added that no money has actually been lost, as exchanges halt withdrawals as needed in order to keep everything synchronized. One exchange affected by the attack, Bitstamp, sent an email to its customers to that effect.
Antonopolous predicts things will be operating normally in between one and three days.
Read more: http://www.businessinsider.com/bitco...-attack-2014-2
http://www.businessinsider.com/bitco...-attack-2014-2
lol the russians in cyrpus who change all its money savings into bitcoins when the country defaulted....
now with teh feds crashing the party, looks like their virtual currency is nothing more then pixels...
but im sure those clowns have been reimbursed by the russian govt...lol 50b winter olympics my ass, just bailing out them clowns
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