Online Cash Bitcoin Could Challenge Governments, Banks

Bitcoin’s roller-coaster ride gets wilder as Wall Street, China climb on.

-- Tom

 

Bitcoin Slumps After Ban Prompts Baidu Termination

"Baidu Inc. (BIDU:US), China’s biggest search engine, stopped accepting Bitcoins after the nation’s central bank barred financial institutions from handling transactions, triggering a drop in the virtual currency.

Bitcoin fell more than 20 percent and was quoted at 4,250 yuan ($863) as of 3:25 p.m. Shanghai time on BTC China, the most active online exchange where it’s traded. It lost 30 percent to $575 on Bitstamp, another web platform where the digital money is exchanged for dollars and other currencies."

http://www.businessweek.com/news/20...pting-bitcoins-after-china-ban-causing-drop-1

 

Bitcoin Crashes, Loses Half Of Its Value In Two Days

"It was inevitable that a few short days after Wall Street lovingly embraced Bitcoin as their own, with analysts from Bank of America, Citigroup and others, not to mention the clueless momentum-chasing, peanut gallery vocally flip-flopping on the "currency" after hating it at $200 only to love it at $1200 that Bitcoin... would promptly crash. And crash it did: overnight, following previously reported news that China's Baidu would follow the PBOC in halting acceptance of Bitcoin payment, Bitcoin tumbled from a recent high of $1155 to an almost electronically destined "half-off" touching $576 hours ago, exactly 50% lower, on very heave volume, before a dead cat bounce levitated the currency back to the $800 range, where it may or may not stay much longer, especially if all those who jumped on the bandwagon at over $1000 on "get rich quick" hopes and dreams, only to see massive losses in their P&Ls decide they have had enough."

http://www.zerohedge.com/news/2013-12-07/bitcoin-crashes-loses-half-its-value-two-days

 

I really am having a difficult time being optimistic over Bitcoin. I've heard of a guy trying to find a hard drive full of these things at his local trash dump..that he threw away a few years ago. There was no hope for him, but he was attempting to anyway once these things went to over a thousand dollars. I wonder if he's trying so hard now? So far, the currency has nearly been worthless and one big game. No one is spending these coins, and they are going up and down so much, so quick, that they can't be trusted in my opinion.

 

Speculating in Bitcoins is very risky, obviously.

But they are, if adequately anonymized, a useful way to buy services.

 

Bitcoin is Trust.

-- Tom

 

How the Bitcoin protocol actually works.

-- Tom

 

First Tesla bought with Bitcoin. The future is here..

-- Tom

 

3 Reasons Bitcoins Aren't in Your Wallet Yet.

-- Tom

 

ALERT: It seems that OnionBC is broken, or has become a scam!

Yes, it seems that the Bitcoin mixing service OnionBC is broken, or has become a scam!

 

Re: ALERT: It seems that OnionBC is broken, or has become a scam!

Bitcoin 0.8.6 Released, Updates to Block Size Limits, Free Transactions, OSX Bugs.

-- Tom

 

"JPMorgan files patent for Bitcoin-style payment system"

"JPMorgan Chase has filed a US patent application for a computerised payment system that resembles some aspects of Bitcoin, the controversial virtual currency.

Like Bitcoin, JPMorgan’s proposed system would allow people to make anonymous, electronic payments over the internet, without having to reveal their name or account numbers or pay a fee, according to the patent application. "

http://www.ft.com/intl/cms/s/0/e230307a-61c4-11e3-aa02-00144feabdc0.html

See Also: "Chase-ing Bitcoin: Is JPM Preparing To Unveil Its Own Electronic Currency?"

http://www.zerohedge.com/news/2013-...-preparing-unveil-its-own-electronic-currency

 

This Website Advertises A Bunch Of Jobs That Pay In Bitcoin.

-- Tom

 

Dogecoin, A Cryptocurrency For Doges, Is Now A Thing.

-- Tom

 

How to bet against the bitcoin megabubble.

-- Tom

 

Bitcoin Pulse Tracking Bitcoin's Adoption.

-- Tom

 

Bitcoin’s Rise Constrained by Heists and Lost Fortunes.

-- Tom

 

Bitcoin: Price v hype.

-- Tom

 

We're Actually Surprised By How Many Americans Know About Bitcoin.

-- Tom

 

OMG you guys, this homeless shelter only takes Bitcoin.

-- Tom

 

Bitcoins in Space!.

-- Tom

 

That Swedish Bitcoin Mining Company Has Sold $28 Million-Worth Of Its New Mining Hardware.

-- Tom

 

U.S. Government Nastygram Shuts Down One-Man Bitcoin Mint.

-- Tom

 

Why Bitcoin Will Never Be a Currency—in 2 Charts.

-- Tom

 

Norway rejects Bitcoins as a legitimate currency.

-- Tom