General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBitcoin will be wiped out in 2014, because it has become a threat to national monetary systems.
It will be interestiing to watch. IMO, it will be quite a show, just to make an example of them. Whoever them is.
China investors problably have the most to lose.
Looking foward to 2014.
NoOneMan
(4,795 posts)But she will make a full recovery
Barack_America
(28,876 posts)msanthrope
(37,549 posts)best thing......
But you wait....those lacking in a basic education in bookmaking will cry foul soon enough.
seattledo
(295 posts)So by supporting this they prove that it is a scam.
bhikkhu
(10,718 posts)but I would guess that it would fail for other reasons anyway.
I dont know if it will happen in 2014 but bitcoin will collapse to be sure. It wont have anything to do with any threat to anything though.
It is a great first run at it though. the idea will be refined and eventually something will emerge that actually works.
arcane1
(38,613 posts)I'm not exactly getting paid in bitcoins.
Codeine
(25,586 posts)FactBasedLifeform
(55 posts)The crackdown on Bitcoin is long overdue.
Archaic
(273 posts)Start small. Get a huge return that isn't really quantified. Smart money advertises the hell out of it. Stupid money jumps in as smart money sells. Right now, Forbes is reporting it's the number 1 returning "asset" of 2013.
Then one day, we'll see a breach, a news story about a theft or a pile of value lost for some reason. The late money loses everything.
But one thing has come from it. There is so much pent up anger at standard financial systems that legit sites are willing to gamble on processing those transactions and use it in lieu of a standard currency. Overstock.com has announced that they'll accept it as currency in the 2nd half of 2014. (I wonder how they will pay out store credit on a return...)
So while Bitcoin may fail, the experiment is underway.
What's funny is that SO many of the people who are enamored with Bitcoin, are the old Amero people. OMG ONE WORLD CURRENCY! We're losing our sovereignty! But don't remind them of it.
The Chinese aren't the investors from what I've read. It's the guys in Hong Kong that design an ASIC to do the math to generate Bitcoins and have them mass produced in China due to their proximity. So if they're spending their money on that, and then reselling those Bitcons, they're proabably liquid enough in other currencies to not miss anything.
It's an interesting story.
GoneFishin
(5,217 posts)Not to mention the preposterous notion of "money" that only exists electronically and is moved around by computer. What arrogant assholes.
Renew Deal
(81,863 posts)and money
Drunken Irishman
(34,857 posts)cthulu2016
(10,960 posts)Lint Head
(15,064 posts)Terrorists will bomb a civilian gathering place.
TampaAnimusVortex
(785 posts)Bitcoin Catches Attention Of Goldman Sachs (And Walmart, And Cisco): Goldman Director Joins Bitcoin Startup
http://www.zerohedge.com/news/2013-12-28/bitcoin-catches-attention-goldman-sachs-and-walmart-and-cisco-goldman-director-joins
Also, the feds had a chance to go negative on Bitcoin last month at the senate hearings... Instead, they pretty much gave it a thumbs up.
Also, as the world learned with gnutella and bittorrent, you cant easily kill a decentralized distributed global network of thousands of systems. If they could have, they would have done it years ago with people sharing media. Please explain exactly how they will do it... and not some backwood yokel "They might write a worm to kill it" silliness - as that will show you have no idea how the technology works.
Most all this sounds like sour grapes or simply ignorance of the topic.
tammywammy
(26,582 posts)I now expect the Bitcoin to replace the US dollar in 2014.