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Thread: Bitcoin Boom

  1. #31
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    Default Re: Bitcoin Boom

    Has any TD demanded that the government must do something for those in BitCoin distress?

  2. #32
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    Default Re: Bitcoin Boom

    Seems like it was only last weekend that I was seeing loads of reasoned analysis on what a paradigm shift(sorry, can we still say that?) Bitcoin is.
    Oh...actually it was just last weekend.....

  3. #33
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    Default Re: Bitcoin Boom

    Last edited by Dr. FIVE; 15-04-2013 at 02:21 AM.

  4. #34
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    Default Re: Bitcoin Boom

    Bitcoin peaked at 250$ during the week then crashed to 88. It's currently hovering around 100.
    Oook.

  5. #35
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  6. #36
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    Default Re: Bitcoin Boom

    below $60 now. the volatility is hard to fathom

    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  7. #37
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    Default Re: Bitcoin Boom

    A salutory lesson on value, and how it asserts itself. This is what it looks like when you lose all of your "money."

    http://valleywag.gawker.com/this-is-...r-st-486071125
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  8. #38

    Default Re: Bitcoin Boom

    http://gawker.com/massive-bitcoin-bu...o-75-487857656

    And it seems the biggest Bitcoin exchange is about to face some extreme legal difficulties, its almost like this currency is powered by comedy.

  9. #39
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    Default Re: Bitcoin Boom

    Largest Bitcoin Exchange Halts U.S. Dollar Withdrawals

    Paste headline into google

    Bitcoin transactions taxable, says GAO
    By Ben Goad
    Some transactions involving bitcoin and other virtual currencies are subject to federal taxes, the Government Accountability Office concluded in a report issued Monday.
    As a general rule the most successful man in life is the man who has the best information.

  10. #40
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    Default Re: Bitcoin Boom

    Bitcoins are back in the news again: the alleged founder of the 'silk road' website which used them as a means of exchange has been arrested, 26,000 bitcoins have been seized by US Federal authorities and the value of bitcoins has decreased by 25% in a week.

    http://www.theguardian.com/technolog...nked-silk-road

    Sent from my GT-S5670 using Tapatalk 2
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    'Our goal is to conquer state power for the Irish working class'
    Pat Rabitte, 1987

    "Can I ask whether this is what the men of 1916 died for: a bailout from the German chancellor with a few shillings of sympathy from the British chancellor on the side?"
    Michael Noonan, November 2010

  11. #41
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    Default Re: Bitcoin Boom

    I don't think that 25% figure is accurate, 10% tops, but the shutting down of the anonymous marketplace Silk Road would definitely have something to do with it.
    Oook.

  12. #42
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    Default Re: Bitcoin Boom

    I thought the whole point of bitcoins was that they couldn't be seized?
    The United Irishman. Updated 5/2/14

  13. #43
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    Default Re: Bitcoin Boom

    Quote Originally Posted by musashi View Post
    I don't think that 25% figure is accurate, 10% tops, but the shutting down of the anonymous marketplace Silk Road would definitely have something to do with it.
    Seems there was a recovery in the price after the initial hit.

    Although bitcoin took a big drop on the news of the Silk Road bust this Wednesday, it bounced back pretty quickly. So while bitcoins were down 66 percent two years ago on the mere mention of a Silk Road closure, when the F.B.I. finally came knocking, it only bashed the digital currency by about 7 percent. . . .

    “What you’re seeing is there’s a huge shift towards this legitimate economy,”. . .

    In fact, the feds would probably have had a harder time investigating the Silk Road if it had been a cash-based network, says Patrick Murck, a lawyer for the Bitcoin Foundation, a non-profit group that is working to steer bitcoin into the mainstream. “It highlights some things that we’ve been saying all along,” he says. “Bitcoin isn’t this magical anonymous currency that helps people with illegal activity.”
    http://www.wired.com/wiredenterprise/2013/10/silk_road/

  14. #44
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    Default Re: Bitcoin Boom

    There she rises Ahab, $159 per bitcoin.
    This ladies and germs is called a spike.

    https://www.mtgox.com/index.html?Currency=USD
    Oook.

  15. #45
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    Default Re: Bitcoin Boom

    Quote Originally Posted by Saoirse go Deo View Post
    I thought the whole point of bitcoins was that they couldn't be seized?
    Well that depends on where you keep them. If you keep them in a 'wallet' program on your pc/phone, then the physical record exists on your pc/phone. But if your pc/phone gets robbed, then theoretically the bitcoins are 'owned' by the person in possession of your stolen pc/phone (assuming the 'wallet' isn't password protected).

    The safest place to keep the BTC is at the market (website) although I'm not sure if they're insured. It's simple to transfer the BTC it's takes seconds. No tax, no charges, no record - what's not to like.
    Oook.

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