Posted on 12/16/2013 7:20:59 PM PST by Errant
UPDATE: The earlier rumors have been confirmed: People’s Bank of China told more than 10 third-party payment service providers yesterday not to give clearing services to online Bitcoin exchanges, China Business News reports, citing a central bank meeting with the companies. This news is pressuring Bitcoin to $678 (on Mt.Gox) but more notably, BTC China rates imply a $588 equivalent price.
(Excerpt) Read more at zerohedge.com ...
I searched for “401K confiscation”. I did find this:
http://www.freerepublic.com/focus/news/2960535/posts
The suggestions at that time were, it seemed a way to sell gold.
Chinese banks never took Bitcoin.
In other news Derrick Jeter won’t be the Quarterback for the Dallas Cowboys next Sunday. Yawn~
Wall Street is going to jump into Bitcoin in a big way, They are a little slow on the uptake. By mid February 2014 the price will be $5000.00 for a Bitcoin.The more attacks by central governments the more viable Bitcoin becomes. Better get some as a hedge!
RETIREMENT PLANS ATTACKED FOR 'SAVINGS INEQUALITY' - Feds setting stage for 'income redistribution'
My advice: If you can retire early, retire early... ;)
Okay I have one more stupid question. A bitcoin is roughly worth $700. If I’m selling widgets for $70 and I accept bitcoins are you and I co-owners of the coin or do I have to give you $630 cash when you purchase my widget?
This pieces says they are now prohibiting some third-party payment service providers from providing clearing services to online Bitcoin exchanges.
Bitcoins are divisible by up to 8 digits. So the selling price for you widget would be 0.1 Bitcoin.
Btw, that was a very good question. You would be surprised how many people don't know this.
Will be looking forward to that! ;)
It wouldn't surprise me. First though, it will have trouble getting beyond what ever the price of gold is at the time and then the next hurdle will be 2k before 5k. I expect major setback at each level. Remember it touched gold prior to the last fall back. I was totally expecting that and was planning to take advantage, but it hit gold's price much faster than I was prepared for.
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