Search the Community

http://www.businessinsider.com/bitcoin-crashes-to-576-2013-12 Bitcoin fell from a high of $1,079 to a low of $576 today. This is according to data from Mt. Gox. Also, this represents a breathtaking 46% crash. Currently, Bitcoin is back to the $700 level. This is still down a whopping 35%. The sharp moves come in the wake of China's clampdown on the controversial digital currency. Earlier this week, the People's Bank of China announced it was barring the country's banks from handling the Bitcoin. (That Thursday announcement was followed by a 30% intraday crash.) That was followed by this announcement from Baidu, aka "the Chinese Google": Due to the recent fluctuations in the price of Bitcoin larger unable to protect the interests of users, in response to the risk of state-controlled bitcoin spirit Baidu music accelerate decision to suspend with immediate effect from accepting bitcoin buy accelerate music services. Horrific price volatility has been one of the biggest criticisms. This week, Bank of America Merrill Lynch currency strategist David Woo initiated coverage of Bitcoin, assigning a $1,300 fair value. "We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers," wrote Woo in a 14-page note to clients. "As a medium of exchange, Bitcoin has clear potential for growth, in our view."

Guess your know how these cryptos have run up since 2017. anyone brought bitcoin?

rarely see a founder quit and sell all the shares.

i thinking of buying 1,000 sgd, ya i poor man lah. lol anyone buy opet coin liao ma?

http://gizmodo.com/man-forgets-about-buying-27-of-bitcoin-is-now-worth-a-1454150399 Man Forgets About Buying $27 of Bitcoin, Is Now Worth About $1 Million 1 Four years ago, Oslo-man Christopher Koch's girlfriend scoffed at his purchase of $27-worth of Bitcoin. Chances are she was singing a decidedly different tune last April, when Koch checked back in on his investment and found out it was worth $886,000. And over a cool million today. Back in 2009, Koch was working on a thesis paper about encryption, which introduced him to the relatively unknown world of Bitcoin. On little more than a whim, he decided to throw down $27 for 5,000 Bitcoins because the encryption process fascinated him and because why not. Koch then promptly forgot about the purchase—until Bitcoin started popping up in the news four years later, that is. Remembering his offhand investment, Koch frantically searched for the password to his wallet and was floored to find that, by last April's standards, he was sitting on an $886,000 nest egg. After trading in just one-fifth of his total purchase, he was able to buy himself an apartment in Toyen, one of the wealthiest areas in Oslo. Of course, Bitcoin is also notorious for occasionally erratic fluctuations in value, the most recent example being the seizure of Silk Road earlier in the month, which saw the price fall to $30 before skyrocketing again to $197. By today's standards, though, Koch's $27 investment of 5,000 Bitcoins is worth a total of $1,010,000. Not bad for a broke student with zero investment experience. [NRK via The Guardian]

http://multimedia.asiaone.com/multimedia/gallery/bitcoin-ceo-found-dead-top-rubbish-collection-point Ms Autumn Radtke, CEO of First Meta, was found dead on the second storey parapet of Block 8 Cantonment Close on the morning of Feb 26.

http://blogs.wsj.com/digits/2014/02/27/american-ceo-of-singapore-startup-first-meta-dies/ was this in the news? bitcoin exchange startup CEO died of circumstances unknown...

It's finally happened. Bitcoin has always been (rightly) perceived as a threat to the establishment since it became popular. The banks and governments of the world cannot control (or "regulate", to put it euphemistically) a decentralised currency. Loss of control is loss of power, and this is something they fear above all else. The US government is shutting down Bitcoin to protect its own narrow, selfish interest. It has nothing to do with protecting the interests of the people. I've never trusted the US government (I mistrust all governments on general principle, but the US government has given me a lot more reason to mistrust it), so this takedown by the DHS was a foregone conclusion to my mind. Bitcoin, apart from its many legitimate uses, is also used on sites like The Silk Road, which provides access to illegal services. The Feds have probably had a devil of a time trying to shut it down, without success - because of the decentralised nature of the deep web on which The Silk Road resides. They can't shut down the principal currency either: BitCoin is also protected by its decentralisation. However, they can (and now have) gone after the soft target - the point at which BitCoin is exchanged into "common" currency - the US dollar. That's always been the one vulnerability in the whole system. If people stop using "common currency" and switch over entirely to BitCoin or similar decentralised cryptocurrency, the governments of the world would completely lose their stranglehold over time. Don't think of this as anarchy. Think of it as the dawn of responsible government and true democracy. I don't have to quote the line from "V for Vendetta", do I? EDIT: The news is apparently 2 months old, but I just heard about it. I apologise if it's been posted before, if so mods please merge.