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Breaking: Bit Coin completely collapses

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posted on Feb, 11 2014 @ 02:38 AM
reply to post by 13th Zodiac" target="_blank" class="postlink">

n Tuesday the US Department of Homeland Security blocked the ability to process Bitcoin payments through Dwolla, an Iowa-based startup that allows customers to transfer their dollars into Bitcoins.

The authorities allege that the company has been operating as an unlicensed money transmitting business, because Dwolla was not registered with the Department of Treasury’s network.

Some noteworthy info here.

posted on Feb, 13 2014 @ 10:25 AM
reply to post by 13th Zodiac

A complete collapse of Bitcoin left one Bitcoin about 100 times valuable than one US Dollar. Then within minutes half the losses were recovered.

posted on Feb, 13 2014 @ 10:31 AM
reply to post by fractal2

You can thank the computer automated stock trade for those wild swings.

I really like the concept of crtypto/virtual currency. In my opinion they are just as secure as the paper money the FED prints. The FED knows this and they are scared. That said I do not think Bitcoin is stable enough to be a long term investment.

posted on Feb, 13 2014 @ 10:52 AM
It is ALL a big con.
the bit coin is money.
so how is it that when they have a Lot
you get a lot of money for them.

but when they have a small amount
you get half the money for them??
they are Not shares!

so what happens the the rest of the money?
just like gold and the $ £

its all a rip off.
go back to sheep cows eggs and wheet corn.

posted on Feb, 25 2014 @ 10:12 PM

this is starting to smell the end

Dear MtGox Customers,

In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.

Best regards,
MtGox Team
edit on 25-2-2014 by Dolby_X because: (no reason given)

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