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Posted on 02/11/2014 7:17:33 AM PST by Errant
(Reuters) - The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected "unusual activity."
The bitcoin price varied dramatically from one exchange to another, with Tokyo-based Mt. Gox, the best known operator of a bitcoin digital marketplace, recording one of the biggest drops for the day.
On the Mt. Gox platform the currency plunged to as low as $500 early on Monday, down more than 27 percent from Friday's final price of $692, according to the Mt. Gox website. It last traded at $595.74, off nearly 14 percent from Friday.
(Excerpt) Read more at reuters.com ...
•New York Hedge Fund Has Already Taken $5.4m in Bitcoin Deposits
•Community Outrage Marks Latest Chapter in Mt. Gox Story
•Fiverr Teams Up With Coinbase to Pay for Services in Bitcoin
•Bitcoin Wins Best Technology Achievement But Satoshi Doesn’t Show
transfer your faith to Christ ... the dividends are phenominal and not subject to governmental whim
Things are heating up all around the world. I see Btc as one of the canaries in the coal mine.
Good analogy ... seeya' in Glory.
> Things are heating up all around the world. I see Btc as one of the canaries in the coal mine.
Same thoughts here. I don’t buy the BitCoin idea anymore than I do printing “currency” with collateral to back it though a lot of investors have figured lots ofways to make themselves ich using other people’s money. It seems that all you have to do to get in the game (most of the tine) is to lose your morals and your conscience so you can become wealthy beond your wildest dreams.
> Things are heating up all around the world. I see Btc as one of the canaries in the coal mine.
Same thoughts here. I don’t buy the BitCoin idea anymore than I do printing “currency” without collateral to back it though a lot of investors have figured lots ofways to make themselves ich using other people’s money. It seems that all you have to do to get in the game (most of the tine) is to lose your morals and your conscience so you can become wealthy beond your wildest dreams.
a single exchange has a problem. and? sounds like govt types are whistling passed the graveyard hoping to distract people from realizing the scraps of paper with magic scribbles in their pockets are worthless
current exchange rates as of 11feb2014
—
monopoly money... $0.0014 per monopoly dollar (assuming $15,140 included w/ game costing $21)
japanses yen... $0.0098 per yen
chinese yuan... $0.17 per yuan
euro... $1.37 per euro
UK pound... $1.64 per pound
gasoline... $3.68 per gallon
crude oil... $100 per barrel
bitcoin... $600 per coin
ounce of gold... $1290 per ounce
—
in the scheme of things, bitcoins are FAR more valued then the vast majority of currencies and commodities in the world.
Yes, and if the distractions don’t work, they take us to war.
The price is actually holding quite well on the other exchanges. Not sure what the deal is with Mt. Gox but the other exchanges don't seem to be affected. Mt. Gox has had trouble getting their customers their funds for some time now.
The showdown with the gov is coming. Will they ban it or regulate it to death?
Sigh... the only currency generated exclusively from waste with no backing of law.
Old news. Not you fault Errant...
But if the reported stock news this feebly, we would just be hearing about Lehman.
Will they ban it or regulate it to death?
They are going to try one or the other. Time is against them plus the cat's out of the bag now and it's a very agile cat.
It is amazing to me that Bitcoin with a total current value of only about 10B gets the attention that it does or seems to frighten the TPTB the way it does.
I'm disappointed in the reaction of both China and Russia to Btc. Obviously their economy and currency isn't as stable as some of us had believed.
Sorry, but that’s about all they’re talking about this morning. There is an interesting bit about a NY Hedge Fund on the list of other news items.
Dude, the time for banning it is over. The Government is now complicit in the Bitcoin scheme. Will manipulate it and eventually — if even decades — will adopt crypto currency.
Long term outlook for traditional personal banking is dead, long term outlook for clearing houses like paypal is bright.
If you’re young, put some investments into Electronic clearing houses and Marijuana corporations.
Basically, there is an enormous demand for a store of value that can be transferred across borders, and easily concealed from the criminal global government.
Making auto parts out of Pt and Au might work. Rare books, postage stamps, small pieces of art (not one of a kind stuff).
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