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Bitcoin banned in china, about to crash

http://www.bloomberg.com/news/2013-1...nsactions.html

Quote:

China Bans Financial Companies From Bitcoin Transactions

http://www.reuters.com/article/2013/...0JK1KZ20131205

Quote:

China central bank warns banks against use of bitcoin

bitcoin to reach sub $500 in next couple of hours .. :thumbsup:2 cents:

-15% in the last hour...

Make that -20%.....

oooops - That's -25%....

Watching it in real time is true entertainment! http://preev.com/

Greenspan calling it a bubble sure doesn't help i'd imagine

Quote:

Originally Posted by Naughty (Post 19896803)

Greenspan calling it a bubble sure doesn't help i'd imagine

Everything has a bubble. I think bitcoin will pull through this.

Sensationalist garbage.

Quote:

Originally Posted by srockhard (Post 19896802)

Watching it in real time is true entertainment! http://preev.com/

It is coming back up according to http://bitcoinity.org/markets?theme=dark

Don't panic yet...

Quote:

Originally Posted by EddyTheDog (Post 19896808)

It is coming back up according to http://bitcoinity.org/markets?theme=dark

Don't panic yet...

nice charts there thx for the link

Saw it drop. Thought about buying. Waited 10 minutes and price jumped $80. Oh well.

Quote:

Originally Posted by nexcom28 (Post 19896817)

Saw it drop. Thought about buying. Waited 10 minutes and price jumped $80. Oh well.

Patience.

Quote:

Originally Posted by AllAboutCams (Post 19896824)

Nothing will happen

On it's way down again, I have a feeling that things won't look good by the end of the day, but I hope I'm wrong :2 cents:

Quote:

Originally Posted by AllAboutCams (Post 19896824)

Nothing will happen

http://zmypic.com/img/bitcoizuz.jpg

Quote:

Originally Posted by srockhard (Post 19896802)

Watching it in real time is true entertainment! http://preev.com/

http://ic.pics.livejournal.com/postf...0/7890_640.jpg

Quote:

Originally Posted by srockhard (Post 19896802)

Watching it in real time is true entertainment! http://preev.com/

The conversion changes every 5 seconds. Amazing.

Quote:

Originally Posted by adultchatpay (Post 19896842)

The conversion changes every 5 seconds. Amazing.

That is actually quite normal.

let's see where will shit drop

one major problem i see for people that are invested in bitcoin is that in a situation where you want to sell you can't.

I haven't heard of anyone being able to move more than $10,000 in bitcoin transactions at a time.

Quote:

Originally Posted by Shap (Post 19896855)

As far as I know the right column on the site I posted before is transactions and I have seen a few go through for 200+ coins...

FFS man!! Could you fear-monger your headline any more????? :321GFY

BITCOIN WAS NOT BANNED IN CHINA!!

China banned financial institutions from getting involved in Bitcoin ...

This is a VERY POSITIVE step in China accepting bitcoin as an alternative currency, by NOT ALLOWING BANKS TO MANIPULATE THE VALUE OF BITCOIN!!

You do not buy or sell bitcoins thru a bank ... that defeats their purpose.

This just goes to prove that most people only read what they want to read, and hear what they want to hear ...... LMFAO

Things like this are completely normal, bitcoin has had a lot of large crashes but it always ends up jumping back up. When Silk Road went down you had all these people (and even on here) saying bitcoin is fucked (when they don't even understand bitcoin in the first place) and BOOM it rises to new highs.

Quote:

Originally Posted by Shap (Post 19896855)

That's what I pointed out last week too lol

it is the same place it was 3 days ago. Does this all the time and if you play it right it means big money

not a crash, more like a dip.

Quote:

Originally Posted by wehateporn (Post 19896835)

On it's way down again, I have a feeling that things won't look good by the end of the day, but I hope I'm wrong :2 cents:

I hope you're right and then BUY BUY BUY!!!

Quote:

Originally Posted by Shap (Post 19896855)

OUT, You mean? In is no problem. >;-))

Quote:

Originally Posted by DAMNMAN (Post 19896951)

OUT, You mean? In is no problem. >;-))

Correct I meant out.

Regardless of what any site reports I do not know anyone who has managed to get out more than $10k out a time. And I know people who have tried.

Quote:

Originally Posted by Shap (Post 19896855)

I said this in another topic, the people whom had a lot of coins simply made phantom profits, that can only be realized if they can exchange for a second currency.

Quote:

French central bank warns over bitcoin risks

(Reuters) - The Bank of France warned on Thursday about risks related to the digital currency bitcoin, adding its voice to growing concerns about the unregulated, online money.

Bitcoin is not backed by any central bank or government, or by physical assets. Their value depends on people's confidence in the currency.

It has been gaining acceptance by the general public and investment community but have yet to become an accepted form of payment on websites of major retailers such as Amazon.com.

The Bank of France said the price of bitcoin in legal currencies was inherently volatile and users may find it difficult to convert to real money.

The anonymity that bitcoin offer users also raises the risk that they could also be used for money-laundering and financing of terrorism, the central bank said in a publication.

"Even if bitcoin is not currently a credible investment vehicle and therefore do not pose a significant risk to financial stability, they represent a financial risk for those who hold them," the Bank of France said.

Though the central bank saw no threat to its monopoly on the issuance of legal tender, bitcoin's growing popularity has increasingly attracted the attention of authorities in several countries, including China and the United States.

The Chinese central bank warned financial institutions on Thursday against trading bitcoin, which has proven particularly popular in China.

The price of the digital currency rose over $1,000 last month for the first time, extending a 400 percent surge in less than a month and fuelling concerns of a bubble in the making.

The Bank of France warned that speculating on the price of bitcoin could become costly if other users became unwilling to convert gains into legal tender, potentially putting the whole system at risk of collapse if bitcoin demand evaporated.

Noting a growing number of retailers and service providers who accept bitcoin for payment in France, the central bank warned they benefited from no guarantee that the bitcoin could be cashed for real money.

:stoned

ADG

if history is any example, next week itll be 2k?

Quote:

Originally Posted by AsianDivaGirlsWebDude (Post 19897492)

"Their value depends on people's confidence in the currency."

That's every currency.. Central banks are warning because there is no confidence in their currency.

http://www.coindesk.com/bank-of-america-bitcoin-growth/

'Bank of America: Bitcoin Has Clear Potential for Growth'

Quote:

Originally Posted by - Jesus Christ - (Post 19896805)

Sensationalist garbage.

Normalcy bias.

http://img189.imageshack.us/img189/1948/9080.png

Looking solid at $1,000+
:thumbsup:thumbsup

It'll be time to buy tonight!

Quote:

Originally Posted by _Richard_ (Post 19897507)

http://www.coindesk.com/bank-of-america-bitcoin-growth/

'Bank of America: Bitcoin Has Clear Potential for Growth'

Obviously.

Quote:

Originally Posted by Naughty (Post 19896803)

Greenspan calling it a bubble sure doesn't help i'd imagine

:1orglaugh:1orglaugh:1orglaugh