Showing posts with label BITCOIN CRASH. Show all posts
Showing posts with label BITCOIN CRASH. Show all posts

Monday, October 5, 2015

BITCOIN CRASH - Australian Businesses Ditch Bitcoin After Banks Act Against Bitcoin Exchanges







 BITCOIN COLLAPSE - Australian Businesses Ditch Bitcoin After Banks Act Against Bitcoin Exchanges

Australia's major banks are closing accounts of bitcoin companies, forcing at least 13 digital currency providers out of business in response to tougher rules on money laundering and terrorism finance, an industry body spokesman said on Tuesday.

The move comes just months after Westpac Banking Corp became the last of Australia's four major banks to pull out of the remittances business in order to reduce compliance risks.Banks globally are exiting sectors that present compliance headaches under pressure from regulators to meet tighter anti-money laundering and counter-terrorism financing rules.
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"The current bitcoin operating model requires very tough compliance and assurance requirements to ensure we meet the high standards required under anti-money laundering regulations," a Westpac spokesman said.

"We continue to monitor developments in bitcoin, including their regulation."

Banks have sent letters to 17 bitcoin companies including BitTrade and Buyabitcoin informing them their accounts would be closed, an Australian Digital Currency Commerce Association (ADCCA) spokesman said.

"We continue to speak with banks to find a solution to the problem. ADCCA looks forward to guidance from the government as to how the situation can be resolved," he said.

Seven percent of the world's $5 billion worth of bitcoin is in circulation in Australia, according to ADCCA estimates. Startups Begin to Leave Australia Japanese police on Saturday arrested Mark Karpeles, head of the collapsed MtGox Bitcoin exchange, over the disappearance of about $390 (£250 million) worth of the virtual currency, local media said.

France-born Karpeles, 30, is suspected of having accessed the exchange’s computer system and falsifying data on its outstanding balance, Kyodo News and public broadcaster NHK said.

The global virtual currency community was shaken by the shuttering of MtGox, which froze withdrawals in February 2014 because of what the firm said was a bug in the software underpinning Bitcoin that allowed hackers to pilfer them. Fifty of the world’s most prominent Bitcoin chieftains are set to gather in secret at an undisclosed Caribbean resort in a roundtable gathering that some are already comparing to The Bilderberg Group meetings.

Coindesk has the story, noting that the gathering, dubbed the Satoshi Roundtable, will take place this weekend and is a closed door confab for “bitcoin CEOs and luminaries”. Members of the Press and the public will not be invited.

“Organized by Bruce Fenton of the Bitcoin Association and Atlantic Financial, participants in the first annual Satoshi Roundtable include top executives from companies such as Blockchain, BitGo, BitPesa, Chain, ChangeTip, Coinapult and MegaBigPower, as well as noted VCs in the space such as Erik Voorhees and Roger Ver.” the report reads.

An official website for the gathering verifies the secrecy of the meeting, noting “Even if you are a great person with many accomplishments in bitcoin and lots of passion we just won’t likely be able to invite you.” "It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange. He declined to identify which bank his firm is now using for fear of repercussions. He said he plans to move the business offshore.

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Friday, March 7, 2014

BITCOIN CRASH : HACKS, Suicides, and Ponzi Schemes. Is it Really Safe?





Bitcoin has been hacked repeatedly. Is it really trustworthy? I believe in alternate currencies to the US dollar because the dollar is clearly a HUGE failure.

Bitcoin is a great concept and is a good method of online transaction. I don't advise people use it to store their life savings in it however.
Bitcoin exchanges hit by DDoS attacks
Bitcoin bank Flexcoin shuts down after hack
Silk Road 2.0 'Hack' Blamed On Bitcoin Bug, All Funds Stolen
Bitcoin firm CEO found dead in suspected suicide

Friday, February 28, 2014

BITCOIN CRASH -- BitCoin's Greatest Lesson


An advantage of Bitcoin over the metals is you don't have to send something physical anywhere when making a transaction.. Not all of us who like cryptocurrencies think it'll definitely work but.. but what makes it a legitimate money is people accept it as the best medium of exchange, it does have to be physical.. scarcity is built into the code 


A 7 billion dollar world market cap is peanuts for a world currency. If it's so flawed as you contend, it will fail. Why even do videos on it? I will suggest bitcoin is in your nightmares. You realize its potential as the ideal world currency and at the same time you wish you got in early. No worries mate, the bankers didn't see it coming either. The people of Cyprus flocked to bitcoin. The first university in the world to accept bitcoin was in Cyprus. If bitcoin was more widely available and known in Ukraine, people would be flocking to it before metals. I know you don't like to hear this. Wealth is perceived, this applies to bitcoin and a shiny gold metal sitting in a vault too. You're correct about MtGox though. Don't trust your bitcoins with anyone, just like your metals which could easily disappear if you let someone else hold them.
Listen to the voices of 2013 talking about Bitcoin.
The $475 Million collapse of Mt.Gox is a great reminder that; you don't own it, if you don't hold it.
All along I have said that the BitCoin pumpers have taken something with NO intrinsic value, built up the PERCEIVED value for the greater fool's REAL value.
As the collapse in the Ukraine shows, once again, gold and silver are the best ways of protecting your wealth.
View the entire Silver Shield Collection

Friday, February 14, 2014

BITCOIN CRASH -- Bitcoin Reversal in China

Despite a virtual lockup in the rest of the Bitcoin world, BTC China has reversed themselves and now is willing to accept deposits once again.






Thursday, February 13, 2014

Massive Attack on Bitcoin -- Bill Still Report

The Mt. Gox shutdown is spreading thru the Bitcoin world. Can it be stopped?
If crypo currencies end up carrying a significant percentage of the world's economic activity (and I think they will) then governments are going to have to tax a lot more heavily if they expect to maintain their current rate of expenditures. The central bank scam is a way of throwing a heavier tax burden on the citizenry than people understand. It's a hidden tax of course. And if the real tax burden (which includes inflation) were known it would cause a decrease in taxable economic activity, and drive some currently taxable activity underground. Go Fedora and their bitmixing wallet feature.
I'm all for Quark doing well


 
 
 
There is a vested interest by the owners of the MATRIX to destroy all Cryptocurrencies because they see them as the biggest threat to the foundation of their SCAM, namely Fractional Reserve Banking.
Banking and currency itself are based on TRUST.   If it is undermined then people won't use them, and they know that, so I am sure The Financial Cabal who are milking the world of its wealth unrelentingly every moment of our existence, are paying all sorts of hackers to find any weakness to shoot down this threat to their control.

So the question we have to post is:  Are we better off without any currencies at all?

IS THERE A WAY WE CAN TRADE WITH EACH OTHER WITHOUT USING THIS MEDIUM CALLED MONEY THAT HAS BEEN USED FOR SO LONG TO RIP THE REAL PRODUCERS OF WEALTH OFF??

Money as a medium of trade has always been highjacked by those who create it to benefit them against the interests of the producers of real wealth, who need it to trade in the process of real wealth creation.
According to Thomas Greco in his book THE END OF MONEY and the FUTURE OF CIVILIZATION yes it is possible by using credit exchange centers set up by the community itself as it has been sprouting spontaneously in many Greek Towns today during the crisis.
Anthropologist David Graeber in his book DEBT: The Fist 5,000 Years, explains this form of trading has been used around the world for hundreds of years, even in times of the Roman empire the Phoenicians kept using it in the Mediterranean while Roman coins were traded at the same time.

THE SECRET TO MONEY IS TO MAKE IT WORTHLESS and ONLY useful to measure the value of things when trading.   Regular money can't do it, but a credit exchange can.

The question is how to design a way to STORE wealth without falling into the same problems we have today with money?.   This is where Cryptocurrencies can be handy, but we have to carefully design them to fulfill this purpose.   Bitcoin has shown to be a Ponzi scheme.

Making money with money IS the problem.   In other words: obtaining profits by merely lending or investing money without PRODUCING wealth in the Real Economy has to be stopped.
1-  Real Wealth is the product of manufacturing things that satisfy human needs, hence the Real Economy
2-  Fake wealth is that which is the product of speculation with money without creating ANYTHING material to satisfy human needs.

Fake wealth steals value from Real wealth.   This is how all the benefits from productivity gains have ended up at the top 0.01% of the population.

So before we design a new currency we have to stop and ask exactly what features we want that currency to have.
1- Zero intrinsic value, just like a measuring tape measures an area without the tape itself being used to speculate with.
2- Always just enough to satisfy all the economic requirements for trade.   No more bankruptcies because of a lack of currency, neither artificial bubbles inflating the value of things because of too much currency in circulation.
3- A stable form of storing wealth easily transportable and secure.

We have our job cut for us to fulfill these needs and become truly free in the process.

Tuesday, February 11, 2014

Bitcoin Crash Explained

Mt Gox Security Breach : What was behind the price crash on the biggest Bitcoin exchange, Mt. Gox? Turns out Mt. Gox wasn't following simple security rules






Bitcoin continues to decline at the same time complaints are being made about lost bitcoins from several companies being hacked. I PREDICTED this one week ago because of the Charts, Volume and Pricing. Maybe Bitcoin will be right back to $1200 but I wouldn't BET on it. It broke right through it's Support levels. Stocks crash overnight all the time but there are usually signs and this is one of the reasons Traders rarely hold positions overnight or going into the weekend. Some people are also saying that companies like Coin base and Mt Gox are somehow keeping their money for periods of time and rejecting their funds. Hackers are attacking systems and people are losing their bitcoin wallets with no ability to get them back or recover them from their computers.

Sunday, February 9, 2014

BITCOIN CRASH as MT. GOX Stops All Withdrawals - Does the ELITE Want BITCOIN Gone?




A temporary halt on withdrawals from the bitcoin exchange Mt. Gox on Friday and subsequent price decline have prompted trading platform SecondMarket to start a pilot program to buy and sell bitcoin, a move it says highlights the need for a major U.S.-based bitcoin exchange.

SecondMarket, which made its name as a platform that allowed investors to trade shares of Facebook Inc. FB before the company went public, has established itself in the bitcoin space through its open-ended bitcoin trust.

There is no major bitcoin exchange based in the U.S., even as U.S. investors are pouring millions into domestic bitcoin start-ups and U.S. companies are beginning to adopt the virtual currency as payment.

Mt. Gox, which is based in Japan, isn't even the largest bitcoin exchange. The largest by 30-day volume is Bitstamp, which based in Slovenia, according to data from bitcoincharts.com. The second-biggest is BTC-e, which appears to be based in Bulgaria. Mt. Gox is third.

"The single most important thing that we can do...is get some serious exchanges established here in New York," Circle's Allaire said at the hearing. Circle is a company that aims to make bitcoin payments easier for merchants.

There are companies working on establishing bitcoin exchanges in New York, but witnesses at the hearing pointed to the regulatory uncertainty and reluctance from banks to work with bitcoin companies as major hurdles.

In recent trade, bitcoin traded at $741.30 on the bitcoin exchange Bitstamp and $763 on Mt. Gox. That's a decline from trading around $900 earlier this week on Mt. Gox and in the early $800s in the same period on BitStamp. Here's a two-month chart of prices on Bitstamp:

Russian authorities have issued warnings against using Bitcoin, saying the virtual currency could be used for money laundering or financing terrorism and that treating it as a parallel currency is illegal.
Reddit, Virgin Galactic, and Overstock.com now accept Bitcoin.

So do dating site OKCupid and travel site CheapAir.com. Game giant Zynga is now in the testing phase. Two big Las Vegas hotels accept Bitcoin. Already, 21,000 merchants are using Coinbase to accept Bitcoin from customers.

(And you can use Bitcoin at Amazon, Barnes and Noble, Crate & Barrel, Target, Sears, CVS, Hyatt Hotels, Kohl's, Burger King, Applebees, Victoria's Secret, Land's End, Facebook, Groupon, Banana Republic, the Gap, AMC and Fandango movie theaters, Whole Foods, Wine.com, Wine Enthusiast, Papa John's, Nike, Adidas, Sephora, Sports Authority, Staples, Zales jewelry, Game Stop, FTD flowers, Zappos and hundreds of other stores if you use Bitcoin to buy gift cards at Gyft.) bitcoin

Andy Haldane -- Executive Director for Financial Stability at the Bank of England -- believes that peer-to-peer internet technology will lead to the break up of the big banks.
Visa has attacked Bitcoin as being less trustworthy than its well-established payment system.

JP Morgan Chase has filed a patent for a Bitcoin-like payment system. And Russia's largest bank is working on a Bitcoin alternative as well.
Ben Bernanke and the Department of Justice have both cautiously blessed Bitcoin. While crypto-currencies remain insulated from central bank manipulation, governments have thus far been tolerant, perhaps because their capability to track transactions is more advanced than Bitcoin believers admit.
Indeed, Bitcoin is not really that anonymous, as the NSA can track Bitcoin trades.

Few protests elicit the same collective gasp from the internet as smashing up an iPhone, so the device-mutilating fury of some members of the Bitcoin community has plunged Apple into a new controversy over policies in its App Store. btc china Imagine a world in which you can buy anything in secret. No banks. No fees. No worries inflation will make today's money worth less tomorrow.

The digital currency Bitcoin promises all these things. And while it's far from achieving any of them — its value is unstable and it's rarely used — some have high hopes.

Blog Archive

“Control oil and you control nations; control food and you control the people.” Henry Kissinger


once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
Henry Kissinger

“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
Henry Kissinger

"We don't let them have ideas. Why would we let them have guns?" Joseph Stalin

The people who cast the votes decide nothing. The people who count the votes decide everything.
Joseph Stalin

Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?

PHILIP ZIMMERMAN, DER SPIEGEL

“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

Taxing People is Punishing Success
UNKNOWN

There's the rich, the poor, and the tax payers...also known as the middle class. Robert Kiyosaki

The Tax you pay is The Bill for Staying Stupid

Stefan Molyneux


“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” Major L L B Angus

The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
The Rothschild Bros

"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."

USA Banker's Magazine, August 25 1924


Cutting Tax Rates stimulates Economic Growth creates more Profit , more Jobs and therefore The Treasury ends up with more Tax Money
UNKNOWN

Taxation is legalized Theft
UNKNOWN

"The Objective of the Bank is not the control of a conflict , it's the control of the debt that a conflict produces . The real value of a conflict , the true value is in the debt that it creates . You control the debt , you control everything . this is THE VERY ESSENCE OF THE BANKING INDUSTRY , to make us all , whether we be nations or individuals , SLAVES TO DEBT " An UNKNOWN Banker

Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

Bob Dylan


"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich


There is NO political answer to a spiritual problem!
Steve Quayle


Po
litical Correctness is a Political Stand Point that does not allow Political Opposition , This is actually The Definition of Dictatorship
Gilad Atzmon

The modern definition of racist is someone who is winning an argument with a liberal
Peter Brimelow


When People lose everything and have nothing left to lose , They Lose It !

GERALD CELENTE

Your Greatest Teacher is Your Last Mistake
DAVID ICKE

The one who Controls the Education System , Controls Perception
UNKNOWN

"The world will not be destroyed by those who do evil, but by those who watch them without doing anything."

Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left
UNKNOWN


No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please
UNKNOWN

Freedom is not Free
UNKNOWN

Don't Steal The Government Hates The Competition

Ron Paul

"Buy The Rumor , Sell The Fact " Peter Schiff


You can love your Country and not your Government

Jesse Ventura


" The Government Works for ME , I do not answer to them They Answer to ME "
Glenn Beck

"Tyranny will Come to Your Door in a Uniform "
Alex Jones

"The Government is not The Solution to our Problems , The Government is The Problem "

Ronald Reagan


"The price good men pay for indifference to public affairs is to be ruled by evil men." Plato


The world is a tragedy to those that feel, and a comedy to those that think...Beppe Grillo

"The people should not fear the government for it is the government who should fear the people" UNKNOWN

"If You are looking for solutions to the world's problems , look in the Mirror , You Are The Solution , You have the power as a human being on this planet " UNKNOWN

"They don't control us , We empower them " UNKNOWN

"Serial Killers do on a Small Scale What Governments do on a large one..."

Serial Killer Richard Ramirez

There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."

Thomas Jefferson

"College is a waste of Money"
Albert Einstein

Schools manufacture people who think that they're smart but they're not.
Robert Kiyosaki

Education is what you learn after you leave School
Robert Kiyosaki

" ‏Schools were designed to create employees for the big corporations."
Robert Kiyosaki


"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson

Dissent is the highest form of patriotism
Thomas Jefferson

“True education makes you feel stupid. It makes you realize you have so much more to learn.” Robert Kiyosaki


"One day your life will flash before your eyes. Make sure it's worth watching." - Gerard Way

"Aspire not to have More but to be More "
UNKNOWN

The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
Robert T. Kiyosaki ‏

"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford

What You Own Owns You
UNKNOWN

If you expect the government to solve your problems, you have a problem. Robert Kiyosaki

"Those who give up their liberty for more security neither deserve liberty nor security." Benjamin Franklin

"None are more hopelessly enslaved than those who falsely believe they are free.” -
Johann Wolfgang von Goethe

"Always trust someone who is seeking the truth , never trust someone who found it" Jordan Maxwell

Be The Change you want to see in The World
UNKNOWN

Failure inspires winners but defeats losers
Robert Kiyosaki ‏

“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN