China "bans" bitcoins

So in case you didn't already know investors in china are the reason bitcoins rose so much. And the Chinese government thought it was getting too much attention and decided to "ban it". BTC has already dropped 300 or so dollars so far. Maybe the "bubble" is about to explode.

Wonder if china wants to donate the unused coins to me?

I love watching btc volatility. How its expected to be a viable currency when the value fluctuates so wildly is beyond me.
I still think it has its uses and will go up from here.

It will be its own demise in my world..drugs are legal in that world..I don't think bitcoins would survive long without the drug market..(also,in my world,liquid lsd flows from the sink faucet..lol)

rory420420 said:

It will be its own demise in my world..drugs are legal in that world..I don't think bitcoins would survive long without the drug market..(also,in my world,liquid lsd flows from the sink faucet..lol)

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Idk Rory.. I'd have thought that the bitcoins would have tanked after silk road got busted, but in fact the opposite has happened and the btc skyrocketed ..
If you'd of asked me before sr's demise I would whole heartedly agree with you, but to me it seems like the btc is here to stay, at least for the short term, imvho of.course..

racerboy71 said:

Idk Rory.. I'd have thought that the bitcoins would have tanked after silk road got busted, but in fact the opposite has happened and the btc skyrocketed ..
If you'd of asked me before sr's demise I would whole heartedly agree with you, but to me it seems like the btc is here to stay, at least for the short term, imvho of.course..

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i think they're hear to say. the concept is now of interest to many different people aside from those who just wish to purchase drugs online. with time the volatility will decrease imo. for now it's just a wild roller coaster ride and some people are brave enough to hop on..i'm not one of those people. i don't even like real roller coasters lOl

And I forgot to ask, but how can you ban something that's intangible like the btc ??
It's not like something g you can go.to.all stores and tell them they can no longer sell btc's..
Just wondering ..

MrEDuck said:

I love watching btc volatility. How its expected to be a viable currency when the value fluctuates so wildly is beyond me. I still think it has its uses and will go up from here.

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Mostly for illegal purposes. Eventually, the government will shut it down.

They didn't ban them,just the banks and payment centers.so its a round about way of banning them,least that's how I read the article..

rory420420 said:

They didn't ban them,just the banks and payment centers.so its a round about way of banning them,least that's how I read the article..

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Ahh.. kk.. gotcha..

So anyone who bought them is just shit out of luck?

If they payed more than the current value,yes..

CCCmints said:

i think they're hear to say. the concept is now of interest to many different people aside from those who just wish to purchase drugs online. with time the volatility will decrease imo. for now it's just a wild roller coaster ride and some people are brave enough to hop on..i'm not one of those people. i don't even like real roller coasters lOl

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maybe...but some people piss diamonds.... sounds like a forum for the 1%

MrEDuck said:

I love watching btc volatility. How its expected to be a viable currency when the value fluctuates so wildly is beyond me.
I still think it has its uses and will go up from here.

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Is there a currency that is viable?

Nope. Paper money is fake and a lie. Federal Reserve Bank controls everything and does what they want with the fake money. Gold and Silver are finite resources and you might as well be using clams like the flinstones.

How is bitcoin any less viable? The dollar was designed to fail and will do so in the future. And you're saying bitcoin is too volatile?


The only real currency is pussy, mother fucker. Its always been and always will. Steaming hot, dripping pussy.

EDIT: Or is pussy too volatile for you?

Wow..now that's volatile....

Pretty sure ducks had a few eggs laid in the basket(hint hint wink wink..)..lol

here's what the conspiracy theorists think about bitcoin, we'll see if they are right: [video=youtube;PfeA94BedQI]http://www.youtube.com/watch?v=PfeA94BedQI&feature=c4-overview&list=UUEHsSWvrGVSIA63OV3J6vhA[/video]

I see many easy workarounds to the blockchain size issue. As far as regulation goes... The only negative possibility is that governments clamp down on exchanges making it hard to convert bitcoins back to cash.

Volitility is not an issue unless you can't easily convert back and forth to a currency. My solution. When you're not using your bitcoins you convert them to one of the electronic gold backed currencies. Anyway, the volitility will settle down when the news stops fucking talking about this shit and gets bored with it.

What we really need to be focusing on here is how to make the online drug vending more secure. This will probably require that these sites use a third party escrow service that can't have the coins stolen or seized. There are obvious issues with give some dude named Pirate your bitcoins to hang on to.

I see them as a commodity rather than a currency because of the volatility. But I don't think it's going anywhere.