Time to panic sell?

The problem now is that every time the price lower to 54.7~54.8, there's someone inserting a sell at 54.9.  So there's a sell-buy-sell-buy-sell-buy cycle but doesn't touches 55 anymore.  We'll need a big buyer, like earlier today 

What's interesting is that past the 2.5K BTC sitting at 55, there's no wall until 60!  So it may well slowly rise to 60

We've reached it in less than 24 hours!

Wow, nice spike 

+1

That made me laugh

Basically, it mean that exchanges coming to the U.S.A. will have to keep a book of transactions.  However, I don't know yet how the U.S. want to track the whereabouts of a company.  They know when they exchange Fiat->BTC, but then what?  How will they perceive any taxes after that?  I could just transfer 1000$ to BTC and say that I bought something with, when in reality I hoard it and it double value.  I also guess that when Bitcoins is more mainstream, a lot of companies will just directly trade in BTC.  Instead of receiving 100M for something and having to cover and transfer to fiscal heaven, then they will just ask to be paid in BTC, unseen, under the radar.

So, this draft is a basic protection, but they ain't much the U.S. or any government can do apart from controlling the Fiat/Bitcoin conversion points (i.e. the exchanges).  As said, once more mainstream, and we get paid directly in Bitcoins, then exchanges will be for medium/small players only.  Big corporates will trade between them in Bitcoins, and trade a LOT more, a LOT faster, and a LOT more anonymously.

It's basically a quick draft, presumably for Mt. Gox wanting to come to the U.S.A.  It says that users of virtual currencies (like Bitcoins) are not under regulation, but the exchanges, and the persons who do the exchanges, are regulated and submitted to the same laws as fiat money.  It's basically a protection against wanna-be money launderer and other financial crimes.

So, you want to exchange 100M dollar, you're under the law and have to declare it.  You're just a user of Bitcoins and get hacked of 100M$ dollar, than too bad for you you're not under any protections...

Well, that will only re-inforce the Bitcoin economy...  Now people will be more cautious about this kind of trolling.  Although I have to say that people reacted pretty well, and prices didn't suffer at all!

+1 on that!  Correction to 47 maybe, but that's the established floor for now.

Tear down that wall at 52!  And the one at 53 while we're at it! 

Well, it's only a good thing if the U.S. takes virtual currencies seriously.  It mean we have another "supporter" who think Bitcoin IS real

Well, I'm sure Mt. Gox help SR a lot, but it's probably a very low percentage of all their transactions.  What people do with their money is up to them.  I think there's far worse entities out there doing much more larger scale nasty things with U.S. money.  Just think of the big corporates laundering money using gray-zone laws.  Cough cough Google...

Hehehe   I think the spike we got is due to a lot of stop orders buying if price pass 50$.

Gonna pass 51 again...

I think they just want to protect against money laundering... Quickly patched-up draft for Mt. Gox coming to USA...

All it says is that virtual currencies are not under regulation of FinCEN...

Edit:  It says that the exchanges are under FinCEN, but not the users...  Complicated...

Stabilizing at 50.5$ is good for me   Let it mature there so it's the new psychological floor...

Two words for the troll...  THANK YOU! 

Too tempting, but even if it goes back under 50, don't worry.  The like has been broken now.  It can easily be crossed both ways now.  Can only go up from here on short term!