More dodgy Bitcoin goings on....

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Forums › Finance and wealth management › More dodgy Bitcoin goings on....

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turnin

509 posts

Ultimate Geek
Inactive user

#1005686 14-Mar-2014 15:50

Must say that Bitcoins price has been remarkably stable over the past couple of weeks
I'm sure if the largest bank in the world accidentally gave away 4% of all the worlds money, their fiat the price would probably crash.
Bitcoin sits stubbornly on US $600.

resurrect

80 posts

Master Geek

#1007054 17-Mar-2014 09:37

So Greece and Italy pretty much falling bankrupt destroyed the Euro dollar right? isn't that what happened and the Euro is no more...........

Oh wait I'm using logic that some people here are, the Euro is still around.

Fred99

13684 posts

Uber Geek

#1023248 11-Apr-2014 09:48

turnin: Must say that Bitcoins price has been remarkably stable over the past couple of weeks
I'm sure if the largest bank in the world accidentally gave away 4% of all the worlds money, their fiat the price would probably crash.
Bitcoin sits stubbornly on US $600.

Oh well...

Sideface

9363 posts

Uber Geek

Trusted

Lifetime subscriber

#1023286 11-Apr-2014 10:31

"Bitcoin plunges below $400 as Chinese exchanges halt bank transfers"

The last 24 hours:

Sideface

gundar

488 posts

Ultimate Geek

Trusted

#1023288 11-Apr-2014 10:34

Mark Knarples' fraud will be a great test case for BTC security.

turnin

509 posts

Ultimate Geek
Inactive user

#1023336 11-Apr-2014 11:26

Sideface: "Bitcoin plunges below $400 as Chinese exchanges halt bank transfers"

The last 24 hours:

My bet is that bitcoin will recover, but if it does go below $13.40, let me know.
What would happen to the value of paper fiats if you were not allowed to trade them anymore?
Sure banks are under a lot of political pressure to try to kill bitcoin which is exactly why many won't pull their money out.
perhaps fred might question exactly why banks want this currency gone.
Probably not though.

speaking of devaluation of fiats, seen this ?

I think we are over 70 Billion now, ( just govt) lets watch the value of the nz dollar remain nice and steady as we pay more interest on borrowings based on printed money backed at best by 1% unaudited gold. lol

Fred99

13684 posts

Uber Geek

#1023370 11-Apr-2014 12:04

turnin:

What would happen to the value of paper fiats if you were not allowed to trade them anymore?
Sure banks are under a lot of political pressure to try to kill bitcoin which is exactly why many won't pull their money out.
perhaps fred might question exactly why banks want this currency gone.
Probably not though.

You're still "allowed to trade".
Banks are dropping A/Cs for BT trading companies, not because of "political pressure" but because of perceived risk.
NAB here: http://www.theguardian.com/world/2014/apr/10/bitcoin-dumped-by-national-australia-bank-as-too-risky
With high volumes on a sharply falling market, there will be a lot of blood on the floor, which will make more banks want to distance themselves from traders.
I don't have any "position" on this. Just curious.

Sharesies

Trade NZ and US shares and funds with Sharesies (affiliate link).

turnin

509 posts

Ultimate Geek
Inactive user

#1023373 11-Apr-2014 12:13

Fred99:
turnin:

What would happen to the value of paper fiats if you were not allowed to trade them anymore?
Sure banks are under a lot of political pressure to try to kill bitcoin which is exactly why many won't pull their money out.
perhaps fred might question exactly why banks want this currency gone.
Probably not though.

You're still "allowed to trade".
Banks are dropping A/Cs for BT trading companies, not because of "political pressure" but because of perceived risk.
NAB here: http://www.theguardian.com/world/2014/apr/10/bitcoin-dumped-by-national-australia-bank-as-too-risky
With high volumes on a sharply falling market, there will be a lot of blood on the floor, which will make more banks want to distance themselves from traders.
I don't have any "position" on this. Just curious.

sure you don't have a "position" but you must know, if you follow the news about bitcoin, there is absolutely enormous political pressure to destabilise bitcoin, has been for some years, you realise the NAB is a bank, trading and loaning fiat right ?

Fred99

13684 posts

Uber Geek

#1023453 11-Apr-2014 14:32

turnin:
Fred99:
turnin:

What would happen to the value of paper fiats if you were not allowed to trade them anymore?
Sure banks are under a lot of political pressure to try to kill bitcoin which is exactly why many won't pull their money out.
perhaps fred might question exactly why banks want this currency gone.
Probably not though.

You're still "allowed to trade".
Banks are dropping A/Cs for BT trading companies, not because of "political pressure" but because of perceived risk.
NAB here: http://www.theguardian.com/world/2014/apr/10/bitcoin-dumped-by-national-australia-bank-as-too-risky
With high volumes on a sharply falling market, there will be a lot of blood on the floor, which will make more banks want to distance themselves from traders.
I don't have any "position" on this. Just curious.

sure you don't have a "position" but you must know, if you follow the news about bitcoin, there is absolutely enormous political pressure to destabilise bitcoin, has been for some years, you realise the NAB is a bank, trading and loaning fiat right ?

I have no love for the banking system, but a monetary system / "fiat currency" based on something with less backing than pokemon trading cards (and the possibility for infinite variations of the same scheme to become established), it's mind boggling that so much money has changed hands, and from trading data - very little of it has ever been for exchange of goods - purely speculative.

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