Germany recognizes BitCoins as valid currency

[The Dharma Bum]

[The Dharma Bum]

Eventually the kinks in procuring and using crypto will be worked out. By that point the price will have stabilized and it will be in more general use as a currency.

The inherent value of bitcoins is that it needs no administration and it's totally a transparent ledger system. You don't actually own currency units you have transactions credited to your account that come from a chain of transactions that can be traced back to the time it was minted by anyone by simply looking at the blockchain.

So small transaction fees etc. No money is stored or transmitted. It's an inherently better system in which to transact business, winchester. That is why it will come to be dominant in the end.

It's using those newfangled computers to record transactions rather than shells or pieces of paper.

[Winchester]

[Leviathan]

[The Dharma Bum]

There was a substantial drop in prices yesterday (a lot lower than 850 lol) when the Chinese market got that news but it's rebounding already. There's going to be a lot of new orders hitting the market on Monday.

Not a problem if you take a short position.

Oh and Leviathan:
https://icbit.se/node/1

[Winchester]

[The Dharma Bum]

I don't think a government crackdown will hurt the market.

[The Dharma Bum]

[The Dharma Bum]

China banned it and it's still holding steady at 700+.

That alone shows this has currency has some wherewithal. When it is recognized that this didn't kill bitcoins it's will enhance perceived legitimacy as a valid store of value. Especially in China itself.

What do you think would have happened to the USD if China prohibited it's banks from working with it it? Probably a war. It's just a blip in trading with btc.

More proof of the concept. What doesn't kill you makes you stronger and this prohibition did not kill bitcoins by any means it simply allowed people to improve their positions and when all of the orders that were made two weeks ago during the initial price increase hit the market tomorrow things might even normalize at the $1000 level.