Posted on 02/07/2014 7:54:47 AM PST by Errant
MADRID (MarketWatch) -- Bitcoin prices fell on Friday after exchange Mt. Gox said it was halting withdrawals temporarily. The company said an increase in flow of withdrawals requests "has hindered our efforts on a technical level. To understand the issue thoroughly, the system needs to be in a static state," said Mt. Gox officials in a note on the website Friday. To resolve the issue, it said a temporarily pause on all withdrawal requests was needed. Its tech team was working on its system, Mt. Gox added, and an update will be provided by Monday.
(Excerpt) Read more at marketwatch.com ...
Millennius is a key proponent of bitcoin, and has called for wider deployment of the currency in the past. The company argues that bitcoin could lower prices online as payments are cheaper than traditional credit card payments and these savings could be passed down to consumers.
Jim’s Mailbox
Posted February 7th, 2014 at 11:40 AM (CST) by Jim Sinclair & filed under Jim’s Mailbox.
Dear Jim,
According to Grant, the Central Bank Governor of India has pretty much stated that “ the cooperation between the world’s central banks is gone and it’s every man for himself.” The Banksters are too self absorbed to only look out for the dollar and not protect their own self-interests.
This tells me we are at the point I have been expecting. The Central Banks of the world would pull back from complete and total cooperation with the US Central Banks and it will be every banker for themselves. The holes in their plan are starting to show and they will not stop the march towards freeing gold to be what it is intended to be – money!
CIGA Larry
All Hell Will Break Loose & The Dominos Will Start Falling
February 7, 2014
Today one of the most highly respected fund managers in Singapore warned King World News that all hell is going to break loose and the dominos are going to start falling. Grant Williams, who is portfolio manager of the Vulpes Precious Metals Fund, also spoke about what this will mean for investors around the world and also what kind of surprise to expect from the gold market.
Eric King: “What about the turmoil around the world, Grant? How bad do you expect this to get?”
Williams: “Eric, we’ve seen some pretty big moves here, particularly in Japan. We’ve also seen some big moves in other Asian markets as well. We’ve got political unrest in Thailand, and we also have a currency crisis all over the region….
I think IMO this is just profit taking from the big money investors, Apple kind of got the ball rolling, it will very soon hit a bottom and quickly bounce back, the question is has hit bottom already and will I kick myself for not buying now.
What’s going on Mt Gox should be investigated from within the bitcoin community.
Agree
Btw, Apple is catching heck over it... There stock isn’t looking too healthy either. I bet if Steve Jobs was still alive, he’d be all over Bitcoin like white on rice!
Like a penny stock thats been halted.....whats in you bag?
sorry but all the responses from this morning ....the level of delusion exhibited....its sad.
little electronic blips worth .....hell no
I’m not a BitCoin expert, so this isn’t intended to make a statement for or against them. Others can figure that out for themselves.
I read that headline and I expected to go to the exchanges and see sub $500.00 BitCoin evaluations. Hey, it was at $720.00 or so.
The earlier evaluation from this morning was around $810.00 when I checked. I guess a $90.00 drop is a sharp drop, but it’s not as bad as what I expected from the reporting.
I’ve only been watching BitCoin for several months. During that time I’ve seen it around $1200 per coin all the way down to $500. I don’t see $720 as a panic rating.
I don’t seem to be nearly as down on BitCoin as some others are.
“The price of a bitcoin last traded at $719.44, with a session high of $867.60 and a low of $651.70”
Gents thats about 30% daily volatility off the low to peak.
Its far safer to be in Iraqi Dinars.
You are like I am I suspect, looking at it as something new, not fully tested, its utility, and its potential.
Let's give it a few more years and then evaluate. For now, its potential is interesting and IMO worth investing a little excess fiat or computer mining time into just for the knowledge and the heck of it. :)
I don’t know anything about Iragi Dinars, I mostly eat at the Golden Corral. The few Bitcoins I have mined, even at the current price, have increased their values x10 in less than 1 year. That’s not too shabby. The trend over time seems to be up, not sure the same can be said about the dollar, especially when I just saw on the internet that we’re 6+T deeper in debt just since O has been in office, with 3 more years to go.
I plan on putting some funds into it the next actually big down day. I’m not going all in, but it’s interesting enough for me to start dabbling a bit.
I will never forget owning coco futures, their price crashing, and trying to sale to cut my loss on the very day the WTC basement was bombed by terrorists. It was a good thing I had placed my stops were I had. Saw Red Hat go from about $6 to $30 in about a day. So yes, this price fluctuation today, especially since it was exchange related, isn't that impressive.
Thanks Errant. I’ve made my mistakes over time too. That’s why I’ll just dabble. I don’t have an aversion to losing a little, with the possible up-side.
I appreciate the note of agreement concerning today’s fluctuation too.
I started out mining back last April and it was quite a learning curve.
What’s the best way to start mining? And did you purchase bitcoins outright or earn them all through mining?
You won't be able to make enough to pay for the electricity, but you will have fun, and able to learn enough to decide if you wish to invest more dollars into high end GPUs, which will turn a profit at the current price or maybe even an ASIC miner one day.
Here is a link to some basic info:
Nice reference.
Thanks for the info — I will look into it.
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