BitCoin and Cryptocurrencies - Will they fail? My 3 Predictions!

I poo poo'd the idea of bitcoin when they first appeared and I still have my reservations.
Look how quickly they took down Liberty Reserve.
I still wouldn't bank on it.

Liberty Reserve =/= bitcoin

Trying to shut down the bitcoin is like trying to shut down the internet.

Bitcoin goes mainstream :D
 
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Liberty Reserve =/= bitcoin

Trying to shut down the bitcoin is like trying to shut down the internet.

Bitcoin goes mainstream :D


Exactly if they truly want to shut down bitcoin ur basically creating a doomsday scenario! aka Shuttin down the internet which is impossible!!
 
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Its amazing how many people posting here that don't even understand the money-system in general... yet acting as if they know how bitcoins are working...
 
Its amazing how many people posting here that don't even understand the money-system in general... yet acting as if they know how bitcoins are working...

Bitcoin 'works' perfectly. It does exactly what it is intended to do.

Some people are interested in Bitcoin because of the publicity, even though they probably don't know about its disruptive possibilities.
 
Liberty Reserve =/= bitcoin

Trying to shut down the bitcoin is like trying to shut down the internet.

Bitcoin goes mainstream :D

It would be easy to shutdown bitcoin, just make exchanges illegal so you cannot transfer bitcoins back into fiat.
 
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It would be easy to shutdown bitcoin, just make exchanges illegal so you cannot transfer bitcoins back into fiat.
every country in the world would have to have that law. Several countries have embraced bitcoin. So, that won't happen.

aren't drugs and digital piracy banned?
 
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every country in the world would have to have that law. Several countries have embraced bitcoin. So, that won't happen.

aren't drugs and digital piracy banned?

True but at the same time if the US banned exchanges or the conversion of Dollars into BTC (and vice versa) then this would be a major problem.
 
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'Bitcoin' becoming a bit too big; regulators scramble for norms Business Standard As Bitcoin becomes more popular day by day, regulators are getting worried about potential money laundering risks associated with this digital currency and its ...
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[TD] Bitcoin campaign donations have regulators scratching heads Arizona Daily Star WASHINGTON — On the website for Jim Fulner's U.S. Senate campaign, 34 letters and numbers appear in a string above the "Donate Now!" button. They are ...
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[TD="colspan: 2"] Bitcoin Hits New Record, and More NASDAQ What's News: The price of bitcoin tops $1,200. President Obama may stay in Washington after term ends. Three unpublished works by J.D. Salinger are leaked ...
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[TD="colspan: 2"] Bitcoin Going Off The Rails On A Crazy Train Seeking Alpha On Monday I wrote an article for TheStreet.com about the psychology of the Bitcoin craze. Since that article it had rallied another 50% into early trading on Friday ...
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[TD="colspan: 2"] British Thermal Unit: The Bitcoin For Electricity? Forbes Two weeks ago, I had an opportunity to hear Jim Rogers, the Chairman of Duke Energy, speak about the future of electric utilities at a conference in Quincy, MA.
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[TD="colspan: 2"] Nakamoto the inventor of Bitcoin becomes its first billionaire The Voice of Russia There have been lots of speculations on Satoshi Nakamoto, Bitcoin's enigmatic creator. It turned out that Nakamoto is neither the Dread Pirate Roberts, the ...
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[TD] Bitcoin crosses $1000 mark for the first time NewsPoint Africa The value of increasing popular cyber currency, Bitcoin has risen to the mark of $1,000 for the first time since it was created. The currency did not have much ...
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[TD="colspan: 2"] CoinJar Receives Australia's First Major Bitcoin Investment DigitalJournal.com CoinJar, a consumer Bitcoin exchange and digital wallet provider, has secured a round of equity investment from several prominent Australian technology ...
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[TD="colspan: 2"] We need anonymity to make democracy safe - Stallman talks Bitcoin RT Although enthusiasm for 'crypto-currency' Bitcoin is expanding, it is not going to save people's privacy from US NSA spy agency data mining. A truly anonymous ...
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[TD] You Can Finally Learn What a Bitcoin Is Thanks to This New Website Complex.com Bitcoin mania is still on the upswing, with the digital currency's value ... But despite all the hooplah, how many people don't actually know what a bitcoin is?
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Felix Salmon

[TD="colspan: 2"] Waiting for bitcoin to get boring | Felix Salmon - Reuters Felix Salmon We'll know that bitcoin has made it to the next level not when editors all want to write about it, but rather when editors don't want to write about it.
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[TD="colspan: 2"] Someone Holding Bitcoin Sign On College Gameday Receives Over ... Joe Weisenthal The image made it onto the front page of Reddit, and quickly spread across the Bitcoin community. And perhaps sensing an opportunity to turn this into a huge ...
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[TD="colspan: 2"] Sell The Bitcoin Bubble Before It Bursts - Seeking Alpha Tech Value Investor Winklevoss Bitcoin Trust ETF (): Sell The Bitcoin Bubble Before It Bursts.
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[TD="colspan: 2"] US Regulators: the World's Bitcoin Police? - CoinDesk Daniel Cawrey FinCEN's desire to regulate cryptocurrencies like bitcoin may see China "eat the USA's lunch".
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[TD="colspan: 2"] My Bitcoin Prediction | Peace . Gold . LOVE - Daily Paul jimbo999 I like Bitcoin, and I like the concept of crypto-currencies. 70% of gold production goes towards jewelry. Most of the so called "inherent" value is tied up in a single ...
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[TD="colspan: 2"] Is Bitcoin a Ponzi Scheme? :: The Market Oracle :: Financial Markets ... I hereby make a prediction: Bitcoins will go down in history as the most spectacular private Ponzi scheme in history. It will dwarf anything dreamed of by Bernard ...
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[TD="colspan: 2"] Elray Resources, Inc. (OTC: ELRA) BitCoin Penny Stock Explosion ... OTCMAGIC STAFF Fueled by massive demand and continued accumulation from the Bitcoin association ELRA continues to move higher racking up spectacular gains for those ...
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[TD="colspan: 2"] bitcoin logic | THE STATE Adam Rothstein Bitcoin, technophilic headline-grabber of contemporary times, is a cryptocurrency. ... Bitcoins are just a series of numbers, and no one runs Bitcoin, so the only ...
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[TD="colspan: 2"] The Mises View: "Bitcoin Hits $1000" | Mark Thornton | Peace . Gold ... Repo Our Republic Ron Paul Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms. My Bitcoin Address: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY.
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[TD="colspan: 2"] Are Bitcoin's Better Than Gold? Crypto-Future of Trillion Dollar ... The price of one Bitcoin -- a mathematically designed digital crypto-currency -- is now within a stone's throw of the price of a troy ounce of gold at more than USD ...
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www.forbes.com/.../fed-up-with-bitcoin-heres-how-to-start-yo...

[TD="colspan: 2"] Fed Up With Bitcoin? Here's How To Start Your Own Currency - Forbes Back in analog eras, even the most powerful people had a tough time starting their own currency. It would have taken a fair bit of wealth to begin with, because ...
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[TD="colspan: 2"] Bitcoin thefts soar as online criminals target easy payday after ... The virtual currency continues to soar in value despite a series of cyber-attacks wiping out millions of dollars worth of Bitcoins. One user has threatened a ...
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[TD="colspan: 2"] Los Angeles Area Subways to Accept bitcoin : Bitcoin - Reddit My friend owns about 20 subways in the Los Angeles Area. He is open to accepting bitcoin; however, he doesn't think anyone would care/ use it to purch...
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[TD="colspan: 2"] Bitcoin Address 12sENwECeRSmTeDwyLNqwh47JistZqFmW8 Transactions sent and received from bitcoin address {0}. 12sENwECeRSmTeDwyLNqwh47JistZqFmW8.
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[TD="colspan: 2"] My business has received more bitcoin orders today than I have in ... It's great to see the bitcoin community rally so much support! I should mention that today, I've earned a smaller amount of bitcoin than bitcoin paym...
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[TD="colspan: 2"] All bitcoin adresses ever. : Bitcoin - Reddit I've been playing around a lot with Bitcoin lately. I've made my own address generator, which resulted with that i have currently got around 8 address...
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[TD="colspan: 2"] Using bitcoin in China : Bitcoin - Reddit Hey all - just wanted to share my bitcoin story. I'm living here in Shanghai, China, working as a teacher. I usually send money back home every month,...
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[TD="colspan: 2"] Bitcoin Miners Bundled With PUPs In Legitimate Applications ... hypnosec writes "Bitcoin miners are being integrated with third party potentially unwanted programs (PUPs) that come bundled with legitimate applications.
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China's Largest Bitcoin Exchange Seeks Recognition for Currency Bloomberg BTC China, the nation's largest Bitcoin exchange, has had low-level discussions with regulators seeking recognition of the digital currency that would allow it to ...
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[TD] Bitcoin's integrity needs more than just friendly support The National A Bitcoin logo is seen at the window of Nara Sushi, a San Francisco restaurant ... The emergence of Bitcoin harkens to those times in history when currency was ...
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[TD] Bitcoin mining malware could be hidden in app, security researchers ... The Guardian Bitcoin 'If Bitcoin, or a currency working in a similar way to it, got a stable value and a large user base, it could take cash flows forever out of the hands of ...
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[TD] Bitcoin crashing? Sheep Marketplace heist may lead to decline in ... PRPick.com Having reached trading peaks of over $1,230 at Mt.Gox, Bitcoin prices have started to correct once again and have hit the low of $863 in early hours of trading ...
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[TD="colspan: 2"] As Bitcoin gets popular, regulators worry about money laundering Firstpost New Delhi: As Bitcoin becomes more popular day by day, regulators are getting worried about potential money laundering risks associated with this digital ...
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[TD="colspan: 2"] Bitcoin worries regulators Deccan Chronicle New Delhi: As Bitcoin becomes more popular day by day, regulators are getting worried about the potential money laundering risks associated with this digital ...
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[TD="colspan: 2"] Bitcoin: New currency in Slovakia? The Slovak Spectator "BITCOIN accepted here". This announcement about the option to pay with the virtual currency bitcoin can be found not only on the websites of several online ...
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[TD="colspan: 2"] Bitcoin explained: the digital currency making millionaires Yahoo!7 News Where once a single bitcoin was worth a few cents online, it is now pushing on $1,000 per coin, creating millionaires in the process. There have been many ...
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[TD="colspan: 2"] Bitcoin Prices Today: Currency Was Higher Than Gold, Bubble May ... The Epoch Times Gabriel Scheare uses the world's first bitcoin ATM on October 29, 2013 at Waves Coffee House in Vancouver, British Columbia. (David Ryder/Getty Images) ...
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[TD="colspan: 2"] Bitcoin breaks $1.2K mark New York Post Bitcoin, the digital-only currency, broke through the $1,200 mark last week on the ... Bitcoin pushed above $900 for the first time recently in the wake of a Senate ...
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[TD="colspan: 2"] Bitcoin Crashes Below $1000 - Business Insider Joe Weisenthal Earlier today, Bitcoin was around $1,200. Currently? It's below $1,000. Here's the chart ... Will Bitcoin Become A Real Currency Or Remain A Speculative Tool? [TABLE="width: 100%"]
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[TD="colspan: 2"] Apps come bundled with secret Bitcoin mining programs, paper over ... Cory Doctorow Researchers at Malwarebytes have discovered that some programs covertly install Bitcoin-mining software on users' computers, papering over the practice by ...
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[TD="colspan: 2"] Explosion Of Bitcoin Clones - Business Insider Rob Wile "Bitcoin is the first, litecoin makes the mining more fair, ppcoin is suppose to be environmentally friendly using the proof of stack concept, namecoin is distributed ...
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[TD="colspan: 2"] One of the World's Largest Bitcoin Sites Hacked! Robert Wenzel Chief executive Kris Henriksen wrote on the Bitcoin Forum: 'Please be advised that attacks are not isolated to us and if you are storing larger amounts of coins ...
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[TD="colspan: 2"] BITCOIN COLLAPSING! | InvestmentWatch InvestmentWatch Here is a live conversion counter/calc http://preev.com/ Bitcoin Crashes Below.
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[TD="colspan: 2"] Like It or Not, Bitcoin Has Already Transformed Society | Motherboard Patrick McGuire () Ever since the value of one Bitcoin rose above $200 USD in late October, I've been obsessively catching up on all the lost time I've missed out on since the ...
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[TD="colspan: 2"] Bitcoin is falling again. Here's why it doesn't matter. | SiliconANGLE Kevin Rose [EN: Over the course of the weekend, Bitcoin's spot price (in USD) was as high as $1233 and as low as $840.32 before returning to $1079 Monday morning.
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[TD="colspan: 2"] Bitcoin: Segway, Cigarette, or Gold Doubloon? - Ludwig von Mises ... Doug French Apparently, he's not a big fan of the cybercurrency Bitcoin. He writes that only techno-libertarians will transact business in Bitcoin, and compares the cybercoin of ...
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[TD="colspan: 2"] Roger Ver, 'Bitcoin Jesus', Makes Largest Ever Bitcoin Donation of ... Jon Southurst Globetrotting bitcoin entrepreneur Roger Ver made the largest ever charitable bitcoin donation — a million dollars — after 'losing' a bet he made with the world ...
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[TD="colspan: 2"] Confession: I Could Have Made $128 Grand in Bitcoin But Lost $1500. Chris Well that's life.... Easy come, easy go. If the money's easy to make, it's easy to lose. This is NOT another "do / do not invest in Bitcoin article". This is a story of the ...
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[TD="colspan: 2"] /r/Bitcoin is a top 50 subreddit, appears in top bar on every page by ... Check it out: open reddit in an incognito/private browsing window, then Ctrl-F search for bitcoin and you'll find it in the top bar, right after /r/po...
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[TD="colspan: 2"] My book on Bitcoin just became a #1 bestseller on Amazon! My plan ... background info:* I have been talking about Bitcoin on my podcast off and on for the past year - as the public's interest in Bitcoin picked up after ...
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[TD="colspan: 2"] Why Bitcoin Fungibility is Essential - CoinDesk If coin validation is introduced, bitcoin's fungibility will be seriously compromised.
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I do believe that some people are definitely in the Cat Bird Seat( regarding to Bit Coins).
History has shown us, any industry that is devoid of ANY regulation is rife with Corruption..
 
From all the news posts W130SN keeps citing, it's becoming clear that Bitcoin is actually approaching the point where it's "too big to fail." Euphoria is setting in as it has cracked the $1000 point of value, but the upshot is it appears BTC is still at the bottom of its climb in value (or put another way, in showing the collapse in value of the dollar and other traditional fiat currencies, due to inflation and quantitative easing).

IAW, it's not so much Bitcoin is climbing, as it is the dollar is crashing. Panic is setting in among the banks and bureaucracies, because the independent currency is transparently exposing the drop in value of the regulated currencies. Unlike with precious metals, that the regulators have learned how to stem their rise (and thereby protect the dollar) by hoarding the bars, then mass selling them to defeat a gold or silver rally, crypto-currency cannot be efficiently bottle necked.

The establishment has no control of this emerging major currency, and the establishment financial media articles reflect they are freaking out over it. The little people will be able to trade without the state being able to track it, and without Wall Street getting a cut (interest, loan fees, etc) or being able to create a derivative out of it. Oh heavens! Freedom, democracy and privacy has returned to exchange. What will control freak monopolists to do now?

Here's a breakdown estimating that the value of BTC can reach $3,000,000:
http://bitcoin.stackexchange.com/questions/6088/what-is-the-maximal-value-of-1-btc
 
or being able to create a derivative out of it.

Sure you can create derivatives, why not? A derivative is something very general.

For example, if I provide to you merchant services in BTC and I guarantee you payment in USD every 24h with value locked at the price at the previous day 's midnight, that 's an over the counter derivative. I 'm taking the risk (and profit/loss) of the fluctuation and you get the security of the daily price stability.
 
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Bitcoin Changes Hands In South Korea Wall Street Journal (blog) Bitcoin will get you bread in South Korea, thanks to a bakery in Incheon that took the landmark step of allowing customers to pay with the world's most common ...
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[TD] Bitcoin fever is a fool's gold rush MarketWatch SAN FRANCISCO (MarketWatch) — Until now, I've held off from offering an opinion on bitcoin, the most visible and popular of so-called digital currencies, that ...
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[TD] Huge bitcoin heist: Black market drug shop Sheep Marketplace ... Computerworld (blog) Like Silk Road, Sheep Marketplace was a Deep Web site accessible via the Tor network; customers paid in the digital currency Bitcoins. But by Saturday ...
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[TD="colspan: 2"] Bitcoin, Gold and Tulips Barron's Can the digital currency keep its momentum, or will gold recover on a bitcoin collapse? ... Is bitcoin the wave of the future, or nothing more than digital tulips?
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[TD="colspan: 2"] Bitcoin's $13.50 To $1200 Eleven Month Climb---Now Taxes Forbes The Wall Street Journal asked Should You Invest in Bitcoin? and printed a WSJ special section: "Bitcoin or Bust". The conclusion: sure, why not buy and hold ...
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[TD="colspan: 2"] Bitcoin, Gold and Tulips Barron's In January, bitcoin was trading around $13. By November, it was at $200, and it had soared past $1,200 by Thanksgiving before backing down. Is bitcoin the ...
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[TD="colspan: 2"] Bitcoin Bubble: Not Bursting Now Zacks.com Touted as the best invention in history since the Internet, the Bitcoin business has also been dubbed as a "mathematical framework that is free of politics and ...
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[TD] Bitcoin Fever Has Spawned 100+ Copycat Cryptocurrencies ReadWrite Here's undeniable proof that Bitcoin is on to something big: it's inspired more than 140 copycats. From AnonCoin to Zeuscoin, a veritable alphabet of ...
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[TD="colspan: 2"] Bitcoin's 80-Fold Jump Unlikely to Last: Offit Capital Bloomberg Bitcoins probably won't become a popular method of exchange as competing ... "Why should I pay $1,000 for a Bitcoin when I can acquire a Bbqcoin for $10 or a ...
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[TD="colspan: 2"] Bitcoin trades at $1172 on Mt. Gox MarketWatch NEW YORK (MarketWatch) -- Bitcoin on Tuesday traded at $1,172 on the trading exchange Mt. Gox, near the higher end of its 24-hour range. It hit a record ...
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The Verge - All Posts

[TD="colspan: 2"] The secret Hong Kong facility that uses boiling goo to mine Bitcoins ... Rich McCormick A single bitcoin is now worth over $1000, but the process of mining for the digital currency — in which people devote computing power to facilitate global Bitcoin ... [TABLE="width: 100%"]
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[TD="colspan: 2"] Black Friday Saw A Huge Surge In Bitcoin Transactions | Fast ... Alice Truong During last year's inaugural Bitcoin Black Friday, BitPay--hailed as the PayPal for Bitcoin--processed 99 transactions. This year, the system experienced a nearly ...
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[TD="colspan: 2"] Did one of the silk road's successors just commit the perfect bitcoin ... DJ Pangburn () Nearly a month before Sheep Marketplace shut down, its alleged creator was doxed.
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[TD="colspan: 2"] Student raises more than $21,000 by waving sign asking for Bitcoin ... Travis Gettys Prior to Auburn's big upset against top-ranked Alabama, the student held up a sign asking his mom to send Bitcoin — the electronic currency that's been steadily ...
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[TD="colspan: 2"] Bitcoin: The Future Of An Illusion [PowerShares DB US Dollar Index ... Christopher Mahoney Powershares DB G10 Currency Harvest Fund (NYSEARCA:DBV), PIMCO ETF Trust (NYSEARCA:FORX), PowerShares DB US Dollar Index Bearish ...
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[TD="colspan: 2"] One BIG problem with Bitcoin... - Sovereign Man Simon Black December 3, 2013 Santiago, Chile At this point, you'd pretty much have to be living under a rock to have not heard of Bitcoin. I actually asked this questi.
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[TD="colspan: 2"] CryptoLocker Ransom In Bitcoins - Business Insider Julie Bort There's a scary new computer virus called CryptoLocker that's spreading like mad.
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[TD="colspan: 2"] Another Central Bank Warns Of Bitcoin Risks | Zero Hedge Tyler Durden First the ECB, then the Fed, and now the Dutch central bank have come out and explicitly warned of the dangers of virtual currencies like Bitcoin and Litecoin.
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[TD="colspan: 2"] You may have just given a toolbar permission to mine Bitcoin from ... Meghan Kelly You know those third-party toolbars and proxies you download? They may be silently using you to mine Bitcoins, and you may have actually agreed to it.
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[TD="colspan: 2"] Bitcoin Developer Sells $8 Million Worth Of ... - Business Insider Rob Wile Stockholm-based KnCMiner sold $8 million worth of their new $10,000-a-pop bitcoin miners in 24 hours last Wednesday, according to KnC spokesman Alex ...
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www.newstatesman.com/.../theres-60m-bitcoin-heist-going-d...

[TD="colspan: 2"] There's a 60m Bitcoin heist going down right now, and you can ... Sheep Marketplace closed down over the weekend after someone got away with 96000 bitcoins - and angry users are chasing him around the internet. [TABLE="width: 100%"]
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[TD="colspan: 2"] BBC News - Dark marketplace closes after theft of 3m in bitcoins Dark net market Sheep Marketplace has shut down after $5.3m (3.3m) in bitcoins was stolen from the site's sellers and operators.
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[TD="colspan: 2"] Bitcoin mining malware could be hidden in app, security researchers ... Malwarebytes points to desktop app whose EULA includes clause getting you to agree to Bitcoin mining - from which you won't benefit. By Charles Arthur.
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[TD="colspan: 2"] Virus thieves making 'millions' in Bitcoin ransoms - Telegraph Virus which locks all personal data has begun demanding payment in Bitcoins.
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[TD="colspan: 2"] Bitcoin: My mind hasn't changed. - Slate Joe Weisenthal announced Sunday that he's changing his mind about Bitcoin. I am not. My primary interest in Bitcoin is that I think it's a great platform for making ...
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[TD="colspan: 2"] Humblebundle now accepts bitcoin \o/ : Bitcoin - Reddit About 2 weeks ago, [Humble Bundle](http://www.humblebundle.com/ opened a new webshop and asked for feedback. I really liked it, the only thing I felt ...
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[TD="colspan: 2"] Bitcoin Vs. State Currencies, US Dollar - Business Insider Currencies of many countries such as Zimbabwe and Argentine are less stable than digital currencies, argue bitcoin investors Cameron and Tyler Winklevoss.
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[TD="colspan: 2"] Bitcoin Could Be Worth 10-100x Current Price - Wedbush analysts ... I love this analogy from the article: 'we think of Bitcoin as the equivalent of a biotech that had a molecule that may cure the common cold.' If only that line could ...
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[TD="colspan: 2"] Stallman calls for "truly anonymous" alternative to Bitcoin | News ... Free software advocate, Richard Stallman, warns that most Bitcoin transactions are easily traceable.
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[TD="colspan: 2"] BitPay Drives Explosive Growth in Bitcoin Commerce | Business Wire In November, BitPay processed a record 55288 bitcoin merchant transactions including 6296 for Bitcoin Black Friday.
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From all the news posts W130SN keeps citing, it's becoming clear that Bitcoin is actually approaching the point where it's "too big to fail." Euphoria is setting in as it has cracked the $1000 point of value, but the upshot is it appears BTC is still at the bottom of its climb in value (or put another way, in showing the collapse in value of the dollar and other traditional fiat currencies, due to inflation and quantitative easing).

IAW, it's not so much Bitcoin is climbing, as it is the dollar is crashing. Panic is setting in among the banks and bureaucracies, because the independent currency is transparently exposing the drop in value of the regulated currencies. Unlike with precious metals, that the regulators have learned how to stem their rise (and thereby protect the dollar) by hoarding the bars, then mass selling them to defeat a gold or silver rally, crypto-currency cannot be efficiently bottle necked.

The establishment has no control of this emerging major currency, and the establishment financial media articles reflect they are freaking out over it. The little people will be able to trade without the state being able to track it, and without Wall Street getting a cut (interest, loan fees, etc) or being able to create a derivative out of it. Oh heavens! Freedom, democracy and privacy has returned to exchange. What will control freak monopolists to do now?

Here's a breakdown estimating that the value of BTC can reach $3,000,000:
http://bitcoin.stackexchange.com/questions/6088/what-is-the-maximal-value-of-1-btc
The establishment has "no control"...

LOL
The analogy of "The US banned piracy and drugs right?" is an idiotic one.
Bitcoin relies heavily on exchange hubs, like Mt Gox and friends. You don't think these could be easily monitored? The dollar is depreciating in value, which is even a stronger case against Bitcoin, why should the US allow it to continue? The US can restrict any legal business from accepting or issuing bitcoins, and that's a huge blow. Basically that ruins the hype bubble bitcoin has been building on, and preserves use of the US dollar.

If every country does this, or a decent amount do, Bitcoin will just return to a currency for drugs and sketchy internet people, like us...

BUT

Bitcoin isn't practical for the world, but the technology certainly is!
Who says the US can't roll out their own version of Bitcoin? Create wallet addresses for every citizen and allow USD to be seamlessly transferred to it at a set rate. Then set banks as an instant transfer medium. Basically this means everyone will have a master credit card (wallet address), and any payment processing company is screwed...
 
Bitcoins is just another way for the bankers to fleece us ordinary folk, once a-f*cking-gain!!!! Assholes!
 
So lets say all goes well and Bitcoins take over general currency. What happens when the majority of Bitcoins is owned by big companies like Apple that will sit on the money? Inflation comes back no matter what. There may be no central banks but there will always be those who will sit on large piles of cash. I don't think any type of currency will ever be foolproof.
 
So lets say all goes well and Bitcoins take over general currency. What happens when the majority of Bitcoins is owned by big companies like Apple that will sit on the money? Inflation comes back no matter what. There may be no central banks but there will always be those who will sit on large piles of cash. I don't think any type of currency will ever be foolproof.

I really think it will be used as a store of value, like how gold is used, before it will actually be used as a day to day currency (if ever). Bitcoin's primary purpose for me is a hedge against inflation of the dollar. It's just a plus that I can transfer Bitcoins easily, as well as use them to pay for stuff.
 
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