Breaking: Bit Coin completely collapses

GMan420

13th Zodiac
...Don't Believe in gold either for that matter as I can't eat it in in a crises....

Not to sidetrack the discussion, but can you eat dollar bills in a crisis?

yes, yes you can....but, the nutritional value is rather limited.

Sounds like today's drop is due, in part, to a technical glitch found in BitCoins, which would allow them to be redeemed multiple times, and which resulted in them being kicked off of one of the few exchanges that still takes them.

Bitcoin's value has dropped sharply after one of the largest trading exchanges said there was a flaw in the virtual currency's underlying software.

MtGox said it had halted transfers to external Bitcoin addresses on Friday after detecting "unusual activity".

It said an investigation had revealed it was possible for thieves to fool the transaction process so that double the correct amount of bitcoins would be sent.

Bitcoins fell from $700 (£427) to $540. (Source)

GMan420

13th Zodiac
...Don't Believe in gold either for that matter as I can't eat it in in a crises....

Not to sidetrack the discussion, but can you eat dollar bills in a crisis?

You can also use them to start a fire, like Tom did in Falling Skies when he found a gym bag filled with $100 bills.

GMan420

13th Zodiac
...Don't Believe in gold either for that matter as I can't eat it in in a crises....

Not to sidetrack the discussion, but can you eat dollar bills in a crisis?

Ah no, never implied it was either. However in crises. Food is Money. Bank on it! Keep exercising, that grey matter and calm your mind. You'll get there Little one. Now let the adults talk.

reply to post by 13th Zodiac


gold is always good...you won't go hungry with gold.

However, in apocaliptic crisis you can wipe your behind with a 100$ bill. Gold will still get you things.

MarioOnTheFly
reply to post by 13th Zodiac

 

gold is always good...you won't go hungry with gold.

However, in apocaliptic crisis you can wipe your behind with a 100$ bill. Gold will still get you things.

You could be starving and offer me a wheelbarrow overflowing with gold for my last loaf of bread. No, thanks. I'll keep my bread. X No Deal Deluded.

reply to post by 13th Zodiac


Good luck than.

13th Zodiac

GMan420

13th Zodiac
...Don't Believe in gold either for that matter as I can't eat it in in a crises....

Not to sidetrack the discussion, but can you eat dollar bills in a crisis?

Ah no, never implied it was either. However in crises. Food is Money. Bank on it! Keep exercising, that grey matter and calm your mind. You'll get there Little one. Now let the adults talk.

By saying you didn't believe in gold, you implied that there was something other than gold that you did believe in. Otherwise, why even throw the gold comment into your post?

Additionally, I appreciate your condescension even though it was unnecessary and unwarranted. Stay classy!

13th Zodiac
I don't care for, or follow Bitcoin. As I don't believe in it. Don't Believe in gold either for that matter as I can't eat it in in a crises. Anyhow the above is their title not mine. So fans of bitcoin don't flame me. Aparrentley accounts have been frozen as there appears to be something that is equivilent to a bank run on their Product? Don't know, don't care. But wanted to give everybody a heads up.

www.businessinsider.com.au...

edit on 10-2-2014 by 13th Zodiac because: (no reason given)

Best way to spread the falsehoods is to a: not care, and b: post the first thing you see.

Good job.

reply to post by 13th Zodiac


But you made the point of saying you don't trust btc OR gold. As if the only thing you trust is that almighty dollar.

thought you didn't care anyway.

Weird perception of the word collapse.
When BTC's go back to 20 - 40 USD's a piece as they were in March of 2012 I'll call it a collapse.
Considering how HARD they've been hit (multiple times now) I think they're maintaining very well.
Someone(s) hates these things and they're still breathing lol.

MtGox has NOT halted a bank run. MtGox is protecting it's users by investigating a glitch in the system to protect them.

www.mtgox.com...

There is no liquidity in BTC. Never under any circumstance buy into a system with no liquidity. I sold my gold when it sky rocketed. If I had BTC I would have already sold it. If you guys want to get into this type of thing look at a currency with A LOT of liquidity. LTC is better but it is not the answer. When you buy into a system with no liquidity the bubble will continually burst.

BTC will bounce back no doubt after MtGox finishes what it's doing. But this should be a lesson to you all.

i bet ya that the same players & manipulaters of 'paper Gold' (ETFs) are screwing with the bit-coin universe (with free QE currency)


mostly just to de-stabelize the digital bit-coin market... they won't crash bit-coin into non-existance, but make it very difficult to have a sure-fire faith in it


the gold etf's prices have been losing to the QE backed manipulaters for around 2 1/2 years now... i feel that they want to poison the whole field so the USD stays near the 80+ confidence / value level and dragging ETFs & bit-coins into the dirt is their style


BTC is like physical bullion... buy what you can afford then sit-on-it no matter the daily fluctuations
swapping & HF Trades are a better than 50% losing proposition unless you have deep pockets to afford all those hundreds of trades in a matter of minutes... the JPMs of the world can have an inexhaustable trading account ... but You likely do not

sn0rch
reply to post by 13th Zodiac

 

But you made the point of saying you don't trust btc OR gold. As if the only thing you trust is that almighty dollar.

thought you didn't care anyway.

I don't care about Bitcoin or Gold or your BS almighty dollar. You show me where I even mentioned Money or the Dollar? C'mon Show me the Money ! or shut up. You and your buddies assume alot.

wow, talk about manipulation and greed.

Why would you invest hard earned cash when a corporate entity can send the price from 800 to 100 in seconds, then rebound to 600.
doesnt this show you how rigged it is?

I was browsing on "Overstock.com" this evening and was surprised to see this notice:


"Bitcoin on Overstock.com
You can now buy thousands of Overstock.com products with Bitcoins! We've partnered with Coinbase to become the first major retailer to accept the digital currency. So shop away!"

So I'm not sure Bitcoin is headed for its demise just yet.

Sal

reply to post by 13th Zodiac


Ha.. you should believe in gold. You were right not to buy into bitcoin though.

The reason to believe in gold? Because even if you don't, there are always others who will and those with hope of future will trade for gold. It's been a currency in times much rougher than these, and much rougher than you can ever imagine.

reply to post by SallieSunshine


That's been true for a while i believe. Meanwhile, Russia, I believe banned it. So it will see a demise.

Must have been a hell of a let down when the Rockefellers, Rothchilds, JP Morgan and Chase did not get on board, and Shazzam, mysteriously they are making money hand over fist then shorted like a "new sailor" on pay day

13th Zodiac
You could be starving and offer me a wheelbarrow overflowing with gold for my last loaf of bread. No, thanks. I'll keep my bread. X No Deal Deluded.

Would you at least trade the Mona Lisa for your last loaf of bread? In a crisis everyone dies of starvation anyway, why not go out with some style?