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Bitcoin refuses to flip: Virtual currency stays strong despite bankruptcies, gyrating rates
The Washington Post ^ | 8 March 2014 | Craig Timberg

Posted on 03/09/2014 2:03:34 PM PDT by Errant

Future generations of Bitcoin billionaires may someday look back on 2014 with knowing smiles. Here was a year when thefts spread, exchanges collapsed, rates gyrated like a teenager’s moods. And yet the buying of bitcoins showed no signs of abating.

The past week was particularly extreme. The apparent suicide of an American business executive in Singapore was investigated for possible ties to her Bitcoin investments. A California man fingered as the currency’s mysterious inventor reacted to his sudden fame by asking that journalists buy him lunch. After finishing his meal at a sushi restaurant, he went on to deny any role whatsoever in Bitcoin.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: banking; bitcoin; crypto; currency; fraud; opportunity; ponzi; pyramid
Good article. Video also at link.

Other News:

Forget Bitcoin vs Fiat, Welcome the Hybrid Economy

South Korea Launches its First Two-Way Bitcoin ATM

Why Isn’t Your Business Accepting Bitcoin?

Inside America's First Bitcoin-Friendly Gun Store (Video)

Bitcoin pits the gold bugs vs the 'techno geeks'

1 posted on 03/09/2014 2:03:34 PM PDT by Errant
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To: Lurkina.n.Learnin; nascarnation; TsonicTsunami08; SgtHooper; Ghost of SVR4; Lee N. Field; DTA; ...

Click to be Added / Removed.
2 posted on 03/09/2014 2:04:18 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

The “weak sisters” and poorly secured websites are being weeded out as Bitcoin gradually works its way to stability.


3 posted on 03/09/2014 2:50:22 PM PDT by House Atreides
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To: Errant
A California man fingered as the currency’s mysterious inventor reacted to his sudden fame by asking that journalists buy him lunch. After finishing his meal at a sushi restaurant, he went on to deny any role whatsoever in Bitcoin.

I LOLed at that one.

4 posted on 03/09/2014 2:52:03 PM PDT by Lee N. Field (I beat wasp nests with a stick for fun.)
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To: Lee N. Field
Lol, me too!

Yep, they've probably got the right guy alright... ;)

5 posted on 03/09/2014 2:58:46 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: House Atreides

Completely agreed. It’s the “free” market at work...


6 posted on 03/09/2014 2:59:30 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

dogecoin is better than bitcoin


7 posted on 03/09/2014 3:07:51 PM PDT by RockyTx
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To: Errant

It’s as much a religion as it is a virtual medium of exchange. It’s not just going to disappear.


8 posted on 03/09/2014 3:08:30 PM PDT by wideawake
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To: RockyTx

Tell me more about it... I’ve been thinking of switching from Ltc mining to Dogecoin...


9 posted on 03/09/2014 3:13:58 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: wideawake

I don’t think so either.


10 posted on 03/09/2014 3:14:36 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

Bitcoin, or something like it, is the only hope of escaping the New World Order’s manipulated currency. It, or something like it, is not going away.


11 posted on 03/09/2014 3:26:50 PM PDT by E. Pluribus Unum (If Barack Hussein Obama entertains a thought that he does not verbalize, is it still a lie?)
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To: Errant

Errant:::

sorry, my post is meant partly in humor.
................
all these hundreds of cryptocurrencies look
mostly the same to me.

everything i know about dogecoin
can be found on Wikipedia


12 posted on 03/09/2014 3:41:10 PM PDT by RockyTx
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To: RockyTx

lol, thanx...


13 posted on 03/09/2014 3:42:33 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: wideawake
It’s as much a religion as it is a virtual medium of exchange.

It is definitely both. Is it also an antidote to the state religions of fiat currency "stability", economic "stability", Keynesianism, etc. The economy can finally flourish without the state sitting on it and squashing it.

14 posted on 03/09/2014 3:43:01 PM PDT by palmer (There's someone in my lead but it's not me)
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To: RockyTx

Nice altcoin joke. It is actually the case that dogecoin’s popularity stems from its ludicrousness.


15 posted on 03/09/2014 3:44:31 PM PDT by palmer (There's someone in my lead but it's not me)
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To: Errant

If I were a potential billionaire, I’d keep quiet as well.


16 posted on 03/09/2014 3:58:45 PM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults)
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To: E. Pluribus Unum
It's just a matter of time before the current houses of cards collapse, IMO.

Global Debt Exceeds $100 Trillion as Governments Binge, BIS Says

17 posted on 03/09/2014 6:44:45 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant
I’ve been thinking of switching from Ltc mining to Dogecoin...

Me too. The recent increased diff for LTC has been tough. Sort of wish LTC could stay under the radar a little longer.
18 posted on 03/09/2014 7:43:22 PM PDT by mmichaels1970
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To: mmichaels1970
The recent increased diff for LTC has been tough.

Indeed! Let me know if you switch... I'll do the same. :-)

19 posted on 03/09/2014 7:44:51 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant
Coinotron's home page shows a profitability index for LTC, FTC, and DOGE that I haven't quite been able to wrap my brain around. LTC is still showing the highest profitability index with DOGE occasionally bumping above it.

If I trust coinotron's number, LTC is still the best move. However, I've been looking around to see if that is indeed the best thing I can be mining right now.
20 posted on 03/09/2014 7:57:00 PM PDT by mmichaels1970
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To: mmichaels1970

Which do you believe has the greatest potential for an increase in value?


21 posted on 03/09/2014 8:00:54 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

Not sure. I’ve been sticking with LTC and considering it the “silver” to BTC gold. But I’m open to others if I can find evidence of future potential.

Honestly, I’ve been mining my LTC to simply convert it to BTC.


22 posted on 03/09/2014 8:57:16 PM PDT by mmichaels1970
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