The Bitcoin Thread or, How The Fed Is Going To Fuck You

[Fife]

[doc_loliday]

If only they'd listened to everyone.

[Ph64]

If only they'd listened to everyone.

I'll wait for the 99.99% off sale.

[heydaralon]

Shitcoin is a classic bubble. Invest by all means but lets not pretend this is a real currency. These retards are in a crypto currency cult and actually believe this pumped up fake ass bubble mania has turned an economic corner...

[heydaralon]

Ive met retards who can barely read who wouldnt touch bitcoin with a ten foot pole. These people are more delusional than a scientologist shilling for amway AND herbalife.

[Fife]

Some good basic money theory:

Bitcoin Is an Implausible Currency

When people sell something, they are effectively buying an option on future consumption, and they want to know how much that option will be worth before they trade real, valuable labor and raw materials for it. In other words, while the buyer wants a medium of exchange, the seller wants a store of value.

[snip]

Perhaps the biggest weakness, however, is that if bitcoin really turns out to be a good way to keep governments from controlling their economies and their citizenry, then governments will crush it.

When I bring this up, bitcoin enthusiasts tend to insist that this can’t happen. But in fact, bitcoin has already turned out to be in some ways uniquely bad at hiding money, because the blockchain is a ledger of every transaction; if you can trace an account to a real person, you know exactly what they’ve bought (as Silk Road customers discovered to their displeasure). Moreover, governments have, over the past 30 years, proven extraordinarily adept at crushing any threat to their power to monitor and tax their populace.

If Bitcoin ever poses an actual, or seriously perceived, threat to King Dollah, it will get crushed like an eggshell under a Sherman tank, and in a N.Y. minute.

End the Fed is the only path.

[StCapps]

"End The Fed", they control the world reserve currency, something tells me they are fairly entrenched and the lolbergs of the world aren't anywhere close to stopping them.

[Fife]

ZeroHedge:

Australian Banks Reportedly Freeze Accounts Of Bitcoin Users

Adding to the pressures on bitcoin early this morning, the Sydney Morning Herald reported that bitcoin users across Australia are reporting that their accounts have been abruptly frozen by the country’s “Big Four” banks. And while the banks have remained largely tight-lipped about the closures, many angry account-holders are jumping to conclusions and blaming the banks for punishing them because of their involvement with bitcoin.

Bitcoin investors are claiming Australia's banks are freezing their accounts and transfers to cryptocurrency exchanges, with a viral tweet slamming the big four and an exchange platform putting a restriction on Australian deposits.

According to the Herald, cryptocurrency trader and Youtuber Alex Saunders called out National Australia Bank, ANZ, the Commonwealth Bank of Australia and Westpac Banking Corporation on Twitter for freezing customer accounts and transfers to four different bitcoin exchanges - CoinJar, CoinSpot, CoinBase and BTC Markets.

[Viktorthepirate]

ZeroHedge:

Australian Banks Reportedly Freeze Accounts Of Bitcoin Users

Adding to the pressures on bitcoin early this morning, the Sydney Morning Herald reported that bitcoin users across Australia are reporting that their accounts have been abruptly frozen by the country’s “Big Four” banks. And while the banks have remained largely tight-lipped about the closures, many angry account-holders are jumping to conclusions and blaming the banks for punishing them because of their involvement with bitcoin.

Bitcoin investors are claiming Australia's banks are freezing their accounts and transfers to cryptocurrency exchanges, with a viral tweet slamming the big four and an exchange platform putting a restriction on Australian deposits.

According to the Herald, cryptocurrency trader and Youtuber Alex Saunders called out National Australia Bank, ANZ, the Commonwealth Bank of Australia and Westpac Banking Corporation on Twitter for freezing customer accounts and transfers to four different bitcoin exchanges - CoinJar, CoinSpot, CoinBase and BTC Markets.

Of course this is happening.

[Fife]