BitCrash: Down 50% In Massive Sell Off: Over $1 Billion Vaporized In a Few Hours

April 10th, 2013

http://investmentwatchblog.com/bitcr...u28wTfTBI8R.99

 

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Sold my last ones on April 8th... thankfully!! Much too volatile for my liking, time to put the profits into Canadian silver maple leaf bullion coins...

 

I have read so many "pump and now dump" fools on many websites claim Bitcoin has no downside. Bitcoin can never be hacked, etc, etc, etc. I knew anything to good to be true is not!

 

haha dumb robot money

theres got to be a way to hack it with randomly people hosting a client





Do you have a computer that you keep switched on all the time, that's connected to the internet? You can help the community by simply running the original Bitcoin client on it. The original client is more resource intensive and will take a complete day to synchronize. After that your computer will contribute to the network by checking and relaying transactions.

 

It was inevitable...

and I actually LOL'd at this comment :too-funny:

 

should have called it skynet i wonder how many people would have went with it then

 

before you know it your going to be paying your car bitcoins to drive

 

Yes, it is even acknowledged by the creator. The BitCoin peer to peer network has a historical chain of transactions that is kept forever. New transactions added to the chain are validated by the active clients. If the number of clients wishing to manipulate the currency (would likely need to be reverse engineered clients to modify the code) outnumbers the honest clients then the manipulators can create fake transactions. Not as hard to do on a localized network where all clients are controlled, but the false chain would be invalidated if those BitCoins tried to enter the public network which would be necessary for use. For the rich and powerful or maybe the very, very smart it is possible. If someone had control of an Internet worm that would go a long way.

 

Did you guys know that if you met up with someone to buy bit-coins, then they transferred the coins to you and you never gave them the money that you can't be criminally charged with anything? (at least in the state of Minnesota) It happened to me with another virtual currency. The person went to court and judge found that since it was virtual currency, he technically cant be charged with theft since didn't steal a physical object from me.

Not really related to bit-coins dropping but just thought I would bring it up on the bit-coin subject.

So those who buy or trade bit-coins on craiglist, beware.

 

Poof!

I suspect this will spell the end for bitcoin...

We will see.