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As BitCoin Touches $400 The Senate Starts Seeking Answers... As Does The Fed
Zero Hedge ^
| 9 November, 2013
| Tyler Durden
Posted on 11/09/2013 10:20:58 AM PST by Errant
Moments ago BitCoin hit $395, and will likely cross $400 in the immediate future (the chart looks a little less scary in log scale).
So as more and more pile into the electronic currency, some due to ideological reasons, some simply to chase momentum, some out of disappointment with the manipulated gold price looking to park their savings in an alternative, non-fiat based currency, which a year ago traded 40 times lower, the attention of the government is finally starting to shift to what has been the best performing asset class in the past year, outperforming even the infamous Caracas stock market.
Which means one thing: Congressional hearings.
(Excerpt) Read more at zerohedge.com ...
TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: bitcoin; collapse; crypto; dollar
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Mucho info at link above.
1
posted on
11/09/2013 10:20:58 AM PST
by
Errant
To: Errant
The banksters and the big-government/big-corporate criminal complex doesn’t want a currency they can’t manipulate.
2
posted on
11/09/2013 10:22:28 AM PST
by
E. Pluribus Unum
(Who knew that one day professional wrestling would be less fake than professional journalism?)
To: nascarnation; max americana
3
posted on
11/09/2013 10:22:37 AM PST
by
Errant
To: Errant
I wouldn’t touch bitcoin. It reminds me of ‘tokens’ or credits you get in arcades or on some of the Facebook pages, even though some are apparently making tons of money..scares the crap out of this investor.
4
posted on
11/09/2013 10:24:25 AM PST
by
SueRae
(It isn't over. In God We Trust.)
To: SueRae
Yep. You can go broke just as easy with the trusted stocks.
/johnny
To: E. Pluribus Unum
Yeah, they’re starting to get nervous now. I don’t think so much from being afraid of BTC cutting into their profits as the fear that light will be shown on the Ponzi scheme they’ve been running for years.
6
posted on
11/09/2013 10:27:38 AM PST
by
Errant
To: SueRae
It reminds me of tokens or credits you get in arcades or on some of the Facebook pages, even though some are apparently making tons of money..scares the crap out of this investor. That's a normal reaction to something you haven't bothered to research. Fiat currency cares the crap out of me, but that's because I HAVE researched it. lol
7
posted on
11/09/2013 10:30:24 AM PST
by
Errant
To: SueRae
” It reminds me of tokens or credits you get in arcades or on some of the Facebook pages, even though some are apparently making tons of money..scares the crap out of this investor.”
What about the “tokens” from the Federal Reserve? They have nothing to back them except belief.
8
posted on
11/09/2013 10:34:22 AM PST
by
dljordan
(WhoVoltaire: "To find out who rules over you, simply find out who you are not allowed to criticize.")
To: Errant
If you put a thousand dollars into bitcoins, anytime in 2009 thru 2010, you would be a very, very rich man today.
Who knew, when I first heard of it, I thought it be a huge scam.
9
posted on
11/09/2013 10:37:10 AM PST
by
PoloSec
( Believe the Gospel: how that Christ died for our sins, was buried and rose again)
To: Errant
Which means one thing: Congressional hearings.Put Issa on the case ... BitCoin will be good for another decade.
10
posted on
11/09/2013 10:37:40 AM PST
by
NonValueAdded
(It's not the penalty, it's the lack of coverage on 1 Jan. Think about it.)
To: E. Pluribus Unum
they’re mobsters who insist on getting a piece of any and all action in their territory. You just aren’t going to make a quarter in America without giving them a dime. that’s why they hate gold. that’s why they want to close the “gun show loophole”.
11
posted on
11/09/2013 10:39:16 AM PST
by
RC one
To: SueRae
12
posted on
11/09/2013 10:41:39 AM PST
by
Errant
To: PoloSec
Same here. It's something you have to research and learn about. It's a totally different and somewhat abstract money system that's vague to just about everyone at first, even though that was never intended and there are plenty of easy to understand resources online that explain the concept in great detail.
The purveyors of fiat currency on the other hand (folks like the Fed (a collaboration of big banks)), and others (World Bank, Euro Banks, Chinese, Bricks, and etc.) go to extremes to keep their inner workings secret.
13
posted on
11/09/2013 10:48:37 AM PST
by
Errant
To: NonValueAdded
Put Issa on the case ... That man and the GOP in general are a joke!
14
posted on
11/09/2013 10:49:46 AM PST
by
Errant
To: PoloSec
Bitcoin is still a scam.
http://monetaryrealism.com/bitcoin-is-a-scam/
15
posted on
11/09/2013 10:50:55 AM PST
by
SVTCobra03
(You can never have enough friends, horsepower or ammunition.)
To: Errant
The only think I worry about is...someone knows the exact location of the Bcoins.
16
posted on
11/09/2013 10:56:07 AM PST
by
deadrock
(I am someone else.)
To: Errant
Thanks.
Looks like FReepers are as divided on Bitcoins as a lot of other subjects these days.
17
posted on
11/09/2013 10:59:50 AM PST
by
nascarnation
(Baraq's 3rd term: squaw Warren? Lord help us!)
To: Errant
Soros, look to see if he’s involved.
18
posted on
11/09/2013 11:06:16 AM PST
by
Darksheare
(Try my coffee, first one's free..... Even robots will kill for it!)
To: nascarnation
Some of us have not yet formed an opinion.
Since it is all computer based - I wonder what happens if the grid goes down? (Not that the banks or stores will function in that event)
19
posted on
11/09/2013 11:08:16 AM PST
by
jacquej
("It is the peculiar quality of a fool to perceive the faults of others and to forget his own.")
To: jacquej
I agree. It’s hard to wrap my brain around Bitcoin.
When I study the mechanics of it, I get a headache LOL.
20
posted on
11/09/2013 11:09:24 AM PST
by
nascarnation
(Baraq's 3rd term: squaw Warren? Lord help us!)
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