Bitcoin Miner Bankrupt Due to Hackers. More Carnage to Follow?

[willair]

We know currencies can be fluctuate with speculation, however bitcoin as a currency is open big swings and significant fluctuation in a short timeframes.

Interestingly, supporters consider it "safe" because it cannot be created uncontrollably, it is limited. Who knows, it may become the norm in 20 years, or just another fad. Difficult to say at this stage.

I have been watching "Bitcoin" for a while now ,I don't want to be standing at the cab rank with no taxis in sight while everyone is already at the party
but there is something curious about the system,prior to the Euro Europe had many different currencies which for anyone that understand how a bell-curve works it also works very well for money changers and shorterm super fast currency traders who did make serious money on random currency fluctuations,"Bitcoin" may well fall into that pattern because once the deviation moves away from the average mindsets the declines become more faster and faster in normal trends..imho..

 

[Sim]

It just clips the ticket.

The late James Tobin would approve.

It could also be an attempt to "Al Capone" the criminals reportedly relying on virtual currencies. If they don't pay their taxes, they'll be charged with tax evasion - easy way to get a conviction without having to prove their criminal activities.

 

[impala67]

Bitcoin Price Bounces Back After China-Induced Selloff

http://recode.net/2014/04/11/bitcoin-price-bounces-back-after-china-induced-selloff/- 11.4.14 - By Jason Del Rey / Recode

Even with Friday's rally, bitcoin is down about 50 percent over the last three months and more than 60 percent since it topped USD$1100 last year.