Bitcoin thread anyone?

I agree 100%
But government like to do "something" good for their citizens: so give them that.... it will stop bad media and other BS.

 

So bitcoin dipping below $500 on the news that the Chinese government basicly outlawing it, and nobody is posting about it???

Currently at 570...

 

I don't care that it's below $500 since I remember when it was $10 like it was last week.

 

I have just seen this quote on Reddit, have to share:

"There are some things only bitcoins can buy, like illegal drugs over the internet and hubris. For everything else, there's Mastercard."

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Another funny one:

A well-balanced portfolio, such as my retirement fund:
Bitcoin 10%
Litcoin 10%
Namecoin 10%
Dogecoin 10%
CEX.io GH 10%
uKash 10%
Xbox Points 10%
e-gold 10%
Liberty Reserve 10%
Flooz 10%

By the way there is a suicide watch thread with 2000 comments there. Some people are really idiots, putting all their money into alpaka stocks and such...

 

Explanation of the Chinese price action a few hours ago:

"The second exchange in China is Okcoin. okcoin sent a message to all customers that they now introduce a new funding method: a payment gate called 95epay.
After 5 minutes, that payment gate halted, and okcoin said it's technical maintenance because of high volume and told us to wait a short while.
So, the price in China soar by 30%, Because most of us think that this action means that the China central bank let them receive new funds.
It's hard to explain, but we all expected someone who in in high position has invested in bitcoin so that he can help us.
However, this man never exist actually. IT'S JUST A imagination. China actually Banned bitcoin.
After two hours, okcoin.com's site suddenly appears some words said that "because China Central Bank don't allow any funding method, we have to halt deposit."
Yes, all of us felt that we had been fooled by okcoin.com. There is a rumor said that the Webmaster of okcoin released such “good” news just because he wanted to sell all his coins at a relative higher price.
So, the price plummeted down again."

 

This attached 1-year BTC logarithmic Chart shows that nothing out-of-the-ordinary happened.
I'm sure that Chinese investors will find ways to bring cash to their exchanges. It's just isn't that fast and convenient anymore, which is a good thing >> it would be much better for BTC to rise 10% per month, than those dangerous fast inflows of 50% or more.

 

You are right, since 50% crashes are quite common with bitcoin, so, nothing to see here, please move on.

Also, if we look at the upside down chart, this was a 100% rally....

 

As others wrote it before: it's a traders dream: yesterday down from 650 to 400 (39% down) and this morning back to 650 again (62% up).

 

And we are in agreement, again! It is also not functioning as a currency, and that was the original intention of the inventors....