BitCoin crashed?

[Dave_L]

My buddy that is big into bitcoins said it didn't "crash". Just a little guy went out of business and a bigger guy will buy them up. He said it's settled back at like $650. :shrugs: I don't invest in them so I'm just going off what he told me.

[Great-Kazoo]

So we're taking beforeitsnews.com stories at face value now?

More than one place is reporting . So no is the answer.
http://finance.yahoo.com/blogs/the-e...lkA1ZJUDI4MF8x

http://melodyintrance.wordpress.com/...angeles-times/


2 months ago
http://www.huffingtonpost.com/2013/1...n_4400623.html

[Aloha_Shooter]

I love stories written like this:

After holding in a range of $900 to $1,000 for most of 2014, Bitcoin prices dropped as low as $500 before recovering slightly to around $700 on Monday.

"Most of 2014" .. you mean for 38 or 39 days? I keep listening to crap like this on the radio: "Lowest/highest/worst/best in the last three years" -- for something that happens once a year ..

Reporters need to get some perspective before making "statistical" statements.

[68Charger]

I wonder how much propping up bitcoin did itself to get those inflated values.

One thing i find ironic about bitcoin, is how many folks who rally against the Novus Ordo Seclorum. Invested in an internet, worldwide currency.

Me too. A paper fiat versus an electronic fiat.

putting the original source aside (hack, reactionary, drama-filled)...
Bitcoin is not Novus Ordo Seclorum at all, since it is not government based- in fact, most gov't can't stand it, since they can't track it. (hence it's value in money laundering & illicit trade)

It's more like a commodity, but yes- it's electronic fiat... since it's not a physical commodity.

[Aloha_Shooter]

putting the original source aside (hack, reactionary, drama-filled)...
Bitcoin is not Novus Ordo Seclorum at all, since it is not government based- in fact, most gov't can't stand it, since they can't track it. (hence it's value in money laundering & illicit trade)

It's more like a commodity, but yes- it's electronic fiat... since it's not a physical commodity.

I think Kazoo's point was about people who protest the idea of paper money then jumping in whole hog on a currency that has no real physical existence.

[Great-Kazoo]

putting the original source aside (hack, reactionary, drama-filled)...
Bitcoin is not Novus Ordo Seclorum at all, since it is not government based- in fact, most gov't can't stand it, since they can't track it. (hence it's value in money laundering & illicit trade)

It's more like a commodity, but yes- it's electronic fiat... since it's not a physical commodity.

If it's recognized worldwide it is New World Order. 1 monetary unit, for use any where in the world. OOPS my bad, those are credit cards.

[68Charger]

If it's recognized worldwide it is New World Order. 1 monetary unit, for use any where in the world. OOPS my bad, those are credit cards.

credit cards can be traced, and are tied to some government currency- Bitcoin can't (unless somebody screws up), and is independent of any gov't currency.
New World Order is about control, not just worldwide.

In other words, Bitcoin and other encrypted, electronic forms of money are "stickin' it to the MAN"
They're more part of the underground, than a worldwide government conspiracy... unless you tie it to organized crime, then maybe you have a point

[sellersm]

credit cards can be traced, and are tied to some government currency- Bitcoin can't (unless somebody screws up), and is independent of any gov't currency.
New World Order is about control, not just worldwide.

In other words, Bitcoin and other encrypted, electronic forms of money are "stickin' it to the MAN"
They're more part of the underground, than a worldwide government conspiracy... unless you tie it to organized crime, then maybe you have a point

Not to be contrarian, but can you prove that? Who started BitCoin? Who's behind Mt. Gox? Do you know where it's located?

[Great-Kazoo]

I'm waiting for the few bitcoin investors here to chime in. Since they have not, i doubt it bodes well. Of course everything is subject to change.

[Gman]

I see this exercise in creating an electronic currency ending badly. 20+ years in IT can do that to you.