Slashdot Mirror
Bitcoin Exchange Value Halves After Chinese Ban
An anonymous reader writes with news of the latest major fluctuation in the price people are willing to pay for Bitcoins. From the article: "China's ban on its financial institutions handling bitcoin causes world's largest exchange to cease trading, halving the value of the currency from $1,000 to less than $500 in a matter of days. The country's central bank took a hard line on Bitcoin in early December when it banned financial institutions from handling the decentralized crypto-currency, and as a result BTC China, the world's largest bitcoin exchange, has stopped accepting deposits from its users."
Just watch that line trend downward.
Totally legal but...
States do everything to prevent access to it... shutting down clinics left and right..
And if you do find a clinic you to face a picket line
Given the responses from all these governments you can tell that Bitcoin is something big... that is.. maybe not the actual coins, but the intellectual underpinnings:
- Decentralized
- Limit in coins
- No one governs/owns
It is really what the world has been waiting for.. something that can not be corrupted by any government, is safe and fast. The internet needs this
No, it's pretty much just what libertarian utopians have been waiting for. "No one governing" the Euro is what almost caused the collapse of the EU over one small state having credit difficulties. It isn't an advantage, and exposes the currency to dramatic volatility.
I only wish I had some recent evidence of dramatic bitcoin volatility.