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Does anyone here use Bitcoins?

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wraith808:
Bitcoin drops below $70 on April 15th 2013. Chart here.

Gold is not doing much better as a "safe haven." Story here.

What a surprise!
-40hz (April 15, 2013, 11:37 PM)
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I'm pretty sure it will start trending up again... at a more reasonable pace this time.  These kind of adjustments happen... which is a big reason why investing is such a crap shoot over the short term.

(oh... and something I always forget; remove the tracking crap from the urls if you remember... :))

40hz:
(oh... and something I always forget; remove the tracking crap from the urls if you remember... :))
-wraith808 (April 16, 2013, 11:03 AM)
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Apologies. Those links were because I went to them through my RSS reader. :-[

Fixed now! :Thmbsup:

40hz:
Investopedia has posted a good article on currency speculation and regulation (or lack thereof) which outlines some of the unique risks this investment strategy brings to the table.

In that 'investing' in bitcoins or any other form of cryptocurrency is essentially a form of foreign exchange speculation, what's in the article is worth reading if you're either curious or tempted to put a hand in the game.

One of the points in the article is that regulation (so often denounced by bitcoin and libertarian economics diehards) actually does have a point and a benefit. And some regulation is not necessarily the automatic evil (and government/Illuminati/freemason/UFO sponsored conspiracy  ::)) that a few people will argue any and every financial regulation must be.

It's a good read. Read it here.:Thmbsup:

Why It's Important To Regulate Foreign Exchange
April 16 2013| Filed Under » Forex Economics, Forex History, Government Regulation

The foreign exchange (forex) market is the world's biggest financial market by far. According to the Bank for International Settlements (BIS)'s triennial survey, global forex turnover in April 2010 averaged a staggering $4.0 trillion daily, an increase of 20% from $3.3 trillion three years earlier. In an increasingly globalized economy, the significance of the foreign exchange marketplace to the average consumer cannot be underestimated. The rate at which our domestic currency can be exchanged in the global forex market determines the price we pay for an increasing number of products, the price-tag for our vacations, the rate of return on our investments (ROI), and even the interest rate on our loans and deposits.

And yet, despite the importance of this market, where currency gyrations can dictate the fortunes of everyone from the largest nation to the smallest consumer, foreign exchange remains a largely unregulated business. Although foreign exchange has traditionally been regarded as the exclusive domain of the biggest banks and corporations - recent trends have dispelled this notion, making it increasingly important for foreign exchange to come under the ambit of regulation...
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8)

40hz:
Odd bit of news this morning.  Bitfloor, fourth largest of public bitcoin exchanges (but which represents only 4% of all bitcoins trading) has announced an immediate cessation of operation. Bitfloor has announced it will also be returning all funds to all it's account holders, which seems to indicate this won't be a temporary state of affairs.

Details as to exactly what happened are still sketchy so far. ArsTechnica covered it briefly.

Here's the announcement on Bitfloor's website:



Be interesting to see what went down that prompted this decision.

Some may remember that Bitfloor was the exchange that got taken for 25,000 bicoins last year in a theft that would be worth approximately $2 million at today's exchange rates.

Arizona Hot:


Bitcoins may be the libertarian tax solution- MSN Money

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