Currently 12 million bitcoins in existence. There are more than 6 billion ounces of gold. The low float makes $10,000 a pop for bitcoins very possible.Originally Posted by TheXFactor
Satoshi Nakamoto, is that even his real name?
Gold vs Bitcoin
(November 2012 - November 2013)
Gold is down 28%.
Bitcoin is up 8,451%.
Impressive considering that gold has outperformed the S&P 500 (the biggest public companies) for the past 20 years
20% crash within minutes of this:
http://mobile.bloomberg.com/news/201...nsactions.html
...and still crashing.
litecoins crashing too.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
China’s central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country.
Bitcoin isn’t a currency with “real meaning” and doesn’t have the same legal status as a currency, the People’s Bank of China said. The public is free to participate in Internet transactions provided they take on the risk themselves, it said.
Regulatory oversight may restrain demand for Bitcoin in China, which BTC China said has become the world’s biggest trader of the virtual currency with more than half of global volumes. Surging Bitcoin prices have spurred investor protection concerns and prompted former Federal Reserve Chairman Alan Greenspan to call it a “bubble.”
The People’s Bank of China, China Banking Regulatory Commission and other regulators have held discussions about drafting rules for trading platforms that facilitate the buying and selling of the virtual money, two people with direct knowledge of the matter said. They were not authorized to speak because the information is not public.
“We’re happy to see the government start regulating the Bitcoin exchanges,” Chief Executive Officer Bobby Lee of BTC China, the largest Bitcoin exchange in the country, said today in a phone interview before the PBOC announcement was made. Regulations would be for “the good of the consumer,” he said. BTC is seeking recognition of the currency so it can be used to buy goods and services instead of being used for speculation, he said.
Bitcoin Rules
New rules for Bitcoin may not clarify Bitcoin’s legal status as regulators are divided over the issue, the people said. People are free to trade Bitcoin even as China refrains from recognizing it as a currency in the short term, PBOC’s Deputy Governor Yi Gang was cited by the 21st Century Business Herald as saying last month.
The growth of Bitcoin in China has come amid speculation that regulators may halt trading after police arrested three people on suspicion of stealing money from investors through a fake online exchange.
GBL, a Bitcoin trading platform that began operating in May and had 4,493 registered users at the end of September, abruptly closed on Oct. 26, the official Xinhua News Agency reported Dec. 3., citing police in eastern Zhejiang privince’s Dongyang city.
One investor who reported the case to the police claimed a loss of 90,000 yuan ($14,774), Xinhua reported, saying the total amount of money stolen was unclear. The Hong Kong Standard reported on Nov. 11 that investors may have lost as much as 25 million yuan after the site closed.
“Unsustainably High”
The value of Bitcoin traded at $1,130.33 apiece at 2:48 p.m. in Shanghai on BitStamp, an Internet-based exchange where Bitcoins are traded for dollars, euros and other currencies. It was quoted at 6,964.96 yuan on BTC China. The price was $1,217.84 on the Mt. Gox online exchange.
Bitcoin prices are unsustainably high and the virtual money isn’t currency, Greenspan said in a Bloomberg Television interview from Washington yesterday.
A Justice Department official said Nov. 18 Bitcoins can be “legal means of exchange” at a U.S. Senate committee hearing, boosting prospects for wider acceptance of the virtual currency. Fed Chairman Ben S. Bernanke told the Senate committee the U.S. central bank has no plans to regulate the currency.
There are about 12 million Bitcoins in circulation, according to Bitcoincharts, a website that tracks activity across various exchanges. Bitcoin was introduced in 2008 by a programmer or group of programmers going under the name of Satoshi Nakamoto.
rofl.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Yeah, I just got an alert
Trying to sleep
I have 5 left short $1180
Die MF er
1080 -> 864 in about half an hour.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Kind of a double top. It'll come back a bit.
rebounding, ostensibly because of bots with buy orders. we will see how long that lasts.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
dead cat bounce imo, once people on the east coast start waking up to the headlines in 6 hours, shits going to get bloody.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
"Bitcoin is a specific virtual goods, does not have legal status and monetary equivalent, can not and should not be used as currency in circulation in the market. "
rofl, swallow that.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Channel trade this dog 1000-1200.
I lack the guts right now. Lol, you can go to a local coffee shop here and buy them face to face.
And sell.. For cash.
I need coffee.
https://localbitcoins.com/
i just dont have the nuts. really wish i did right now.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
$100 pop up. Hmmm
On very light volume still.
http://bitcoin.clarkmoody.com/
Is a pretty good ticker.
I think the shows over for now.
that was pretty goddamned entertaining.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
I'm seeing it at $1082 25 minutes later.
I don't understand why that news would be a big deal. So Chinese banks can't use bitcoin as a currency investment. Were they really doing that yesterday? Were people expecting them to?
And 96 year old Alan Greenspan doesn't like something new that's not controlled by a central bank? Shocking.
This is a huge China play. Chinese heavy into BTC. Any neg news from China is a problem.
Chinese investors basically took it from like $600 to $1100.I'm seeing it at $1082 25 minutes later.
I don't understand why that news would be a big deal. So Chinese banks can't use bitcoin as a currency investment. Were they really doing that yesterday? Were people expecting them to?
And 96 year old Alan Greenspan doesn't like something new that's not controlled by a central bank? Shocking.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
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