BitCoin - Intellectual Fraud or a Stunning Idea??

[Pekelo]

Quote from mutluit:

Virtual currencies are legal,

Please stop the overenthusiastic teenager bullshit and pull your head out of your ass. I, the government decide what is legal, not you....


"Thou shall not make a competing currency to the dollar." --- Fed's Handbook paragraph 18th

"Thou shall not operate a money transferring business without permission." --- Ben's little black book


P.S.: Those are actual US laws....

 

[newguy05]

wow just hit cnbc, mtgox and dwolla(money transfer service for mtgox) raided by the feds, account seized by dhs. Hope noone left anything in mtgox, think i have a few cents in there

 

[bigmoose]

After reading this article http://www.foxnews.com/tech/2013/05/30/how-bitcoin-could-go-legal/?intcmp=features

I am starting to think that Bitcoin has been a "plant." An experiment by a sovereign to experiment with a new, digital, potential one world electronic currency.

This was an experiment to see how the public would accept it, and to work out some bugs.

I might be a contrarian on this... but watch to see this reintroduced, refined, taxed and controlled by a sovereign or a group of sovereigns. This software didn't just hatch itself.

 

[achilles28]

BTC holding stable at ~120 USD despite Gov crackdown on Mt Gox and price crash. Looks good...

 

[atticus]

Quote from achilles28:

BTC holding stable at ~120 USD despite Gov crackdown on Mt Gox and price crash. Looks good...

I think the price is stale, not representative of the actual price. Akin to Corn futures on a limit down move.

 

[kinggyppo]

not what you want to see if you have any real $$$ in this.

http://www.libertyreserve.com/index.html

http://en.wikipedia.org/wiki/Global_illicit_financial_team ?

team America?


http://www.youtube.com/watch?v=IhnUgAaea4M

 

[Pekelo]

Quote from achilles28:

BTC holding stable at ~120 USD despite Gov crackdown on Mt Gox and price crash. Looks good...

Your post is at least a week late. The price hasn't been around 120 for days, and the Gov action was 10 days ago. Currently price is above 128$.

http://bitcoinity.org/markets

You can always check for quick news : http://wtbtc.com/

Lately Bitcoin became a boring stock. Volatility has died and price stays in a narrow range. It is good for the currency function but not so exciting for traders...

 

[peilthetraveler]

Quote from mutluit:

No power on earth will be able to silence the bitcoin movement!
Fact is fact!

Virtual currencies are legal, look who else has other virtual currencies...

After doing much research, I can now say I will never buy bitcoins unless the anonymity goes away. Right now, if you get a malware program on your computer, some guy can just swipe your bitcoins and that its. Nothing you can do to get them back or catch the guy that did it. Its literally the perfect crime. You cant fight him for your money. You cant threaten him. You cant even sent him a message begging for your money back telling him its your kids college fund.

Google "bitcoins stolen" and read the thousands of pages that it turns up. One guy lost 25k bitcoins to a hacker. At todays prices thats 3.2 million dollars.

 

[Pekelo]

Finally some action. On Saturday night it dipped down to $90 for whatever reasons, since then it has been recovering to $98. But that is still sub-100 price...

 

[gkishot]

Quote from Pekelo:

Finally some action. On Saturday night it dipped down to $90 for whatever reasons, since then it has been recovering to $98. But that is still sub-100 price...

It's going down because all alternative currencies like gold are going down.