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Bitcoin virtual currency is on verge of collapse
LA Times ^
| February 25, 2014, 7:31 p.m
| Chris O'Brien and Andrew Tangel
Posted on 02/25/2014 8:42:32 PM PST by BenLurkin
click here to read article
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1
posted on
02/25/2014 8:42:32 PM PST
by
BenLurkin
To: BenLurkin
Amazed it lasted this long.
To: BenLurkin
Someday the dollar will have the same fate.
3
posted on
02/25/2014 8:46:37 PM PST
by
DonaldC
(A nation cannot stand in the absence of religious principle.)
To: BenLurkin
I wonder who destabilized the currency? Whoever they are, they must have a lot of computing power and experience in decryption algorithms. Hmmm.... I wonder who that would be?
4
posted on
02/25/2014 8:46:41 PM PST
by
FreeInWV
(Have you had enough change yet?)
To: BenLurkin
"It's not only fragile, it's fragile as eggshells."
True. But so is the dollar. And the legitimacy of the government, for that matter. Both have value only because people believe they have value.
5
posted on
02/25/2014 8:47:15 PM PST
by
jdege
To: FreeInWV
Live by the Byte, die by the Byte.
6
posted on
02/25/2014 8:48:08 PM PST
by
Paladin2
To: BenLurkin
Suprise, suprise, suprise! :-)
7
posted on
02/25/2014 8:48:26 PM PST
by
Georgia Girl 2
(The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
To: FreeInWV
Based on what I heard on CNBC today, I think it was done using more conventional hacking.
The cyber accounts somehow evaporated.
8
posted on
02/25/2014 8:48:55 PM PST
by
BenLurkin
(This is not a statement of fact. It is either opinion or satire; or both.)
To: BenLurkin
And in other news, the price of magic beans fell off sharply today...
9
posted on
02/25/2014 8:49:37 PM PST
by
Hugin
To: BenLurkin
NOTHING beats the good old American BUCK!
(And I’m not talking about deer, either!;)
To: BenLurkin
Never understood the whole bitcoin concept and therefore never participated. Mayhap a good thing on my part.
11
posted on
02/25/2014 8:50:19 PM PST
by
doc1019
To: RIghtwardHo
I think it was just a scam to make a lot of money quickly. Those who made their money probably sold off everything quickly.
12
posted on
02/25/2014 8:51:44 PM PST
by
Jonty30
(What Islam and secularism have in common is that they are both death cults)
To: BenLurkin; a fool in paradise
Buying opportunity fer shore! (buy lo, sell hi,D’UH!)
13
posted on
02/25/2014 8:52:42 PM PST
by
Revolting cat!
(Bad things are wrong! Ice cream is delicious! We reserve the right to serve refuse to anyone!)
To: Errant
To: BenLurkin
Note the source: LA Times. I’m sure this article is just as trustworthy as one about guns or gun owners.
15
posted on
02/25/2014 8:53:17 PM PST
by
coloradan
(The US has become a banana republic, except without the bananas - or the republic.)
To: coloradan
16
posted on
02/25/2014 8:55:54 PM PST
by
coloradan
(The US has become a banana republic, except without the bananas - or the republic.)
To: BenLurkin
17
posted on
02/25/2014 8:56:04 PM PST
by
granite
(The heart of the wise inclines to the right, but the heart of the fool to the left - Ecclest 10:2)
To: Revolting cat!
18
posted on
02/25/2014 8:56:34 PM PST
by
BenLurkin
(This is not a statement of fact. It is either opinion or satire; or both.)
To: BenLurkin
“Many Bitcoin backers insisted there was a silver lining to the collapse. Bad firms like Mt. Gox would be weeded out and replaced by trustworthy ones that would make bitcoin more credible and secure, they argued.”
Exactly. Since everyone knows that Mt. Gox was the only bad player and now that it as been weeded out, all things bitcoin will now be hunky-dory for all of the rest of eternity.
19
posted on
02/25/2014 9:11:21 PM PST
by
catnipman
(Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
To: BenLurkin
I’m sure the federal reserve or any central bank wants the competition so they just destroy them like they destroy the metals market daily to keep their paper scam going.
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