Wednesday, December 18, 2013
Bitcoin Crashing; Off Nearly $700 From Its All-Time High
Bitcoin is now nearly off $700, from its all-time of $1,220, at $529. Bitcoin was dropping before overnight news that China has banned Bitcoin exchanges from taking new cash. So much for governments not being able to use its heavy fist against Bitcoin.
It should be noted that if the USG deems Bitcoin a threat, it can implement legislation here in the US that will accomplish the same thing as China, the only difference being that it wouldl be done in a less heavy handed manner, though it would accomplish the same thing.
I repeat, Bitcoin is a very dangerous speculation that has no edge that can not be defeated by strong arm government tactics.