several recent attacks on Bitcoin services

True. But if you were an account holder, did you even see the loss? If you did see the loss, were you reimbursed?

My point is not that money hasn't been stolen from US banks, but that the individual account holders don't lose their money when a theft occurs. (Unless of course the "theft" is via garnishment, inflation, etc.)

 

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What are you talking about? What is "Bitcoin"?

 

http://lmgtfy.com/?q=wikipedia+bitcoin

 

Ouch. This makes me sick to my stomach. I was actually researching bitcoins last year or the year before that when prices were around $5. I understood the concept of mining etc, but didn't figure out the whole unverified vs verified balances. There were some offers where you signed up for a site and they send you a small amount of BTCs. I still have my wallet.dat file with a fractional amount of BTCs. I was looking to purchase a 100 or so coins just because I thought it was such a cool system. And then the wallet application was just awful with no help section and I was too lazy to go to their wiki site to find more info.

I just went back to data from Aug 2010-Dec 2010 on MtGox. BTCs were selling for around 1-8 cents a piece. Imagine the return... The guys who got in early on can retire right now. Although, I'm sure something bad will happen in the next few months and prices will be down to under $5 in no time. If prices go down to the lows of 2010, I'm in for 100,000 BTCs.

 

Here's an interesting take for those inclined to read it:

http://reason.com/archives/2013/04/09/bitcoin-vs-big-government

 

I just read that Bitcoins are crashing as we speak.

 

LOL! Owned



Source: http://techcrunch.com/2013/04/10/bitcoin-crash/

 

Where is Juan Blanco to explain this?

 

All I can say is I sure hope my nephew took my advice.

 

I was frantically trying to buy some, but now they're back up.

 

I wouldn't say they are 'back up' exactly.....

 

Hiding in his hole with tinfoil.

 

How is that downside? BitCrash: Down 50% In Massive Sell Off: Over $1 Billion Vaporized In a Few Hours

April 10th, 2013

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

 

This looks like a bullish rising wedge to me. Wouldn't it be neat to see BitCoin break to new highs again? I for one am enjoying this theater but am strictly hands off since there is no government backstop and no intrinsic value. There are a number of competing digital currencies already and I don't think BitCoin has a good possibility of retaining its market cap longterm as the wealth becomes more distributed, and as speculators seek to jump in with the next hot hand. Still buying metals as the wallet allows.

 

PHP:

That's the deal killer for me right there.

The USD is good enough for me for short term storage of spending money. Despite also having no intrinsic value, I think it's better than privately (un)managed virtual currency. When was the last time the value of the USD tanked 50% in one day?

 

The day Roosevelt stole the citizens' gold at $20 and repriced it at $35.

 

Sure they were. They were back up to $184 when I wrote that, and they've hit a high of $203 today. This is nothing but taking profits and basically the equivalent of a nasty short squeeze in a market with low liquidity.

 

orly? mt.gox is down and other sites like BTC-E show the price below $100 currently.

 

Yeah, really.

 

Irrelevant.