rGAkVKtcFaj29U6HheokqCKzEL7cuKmBB5

I agree that people got scared with a sell off that lowered the price and started selling themselves. The positive is it has not plummeted... but there are signs of jitters!

I'm trading the swings as I presume many people are! There is quite a swing going at the moment and so long as you have volume it is worth while.

GLTA

Hi all,

What speculation do we have for the Btc price drop over the last couple of days?

Is it the launch of XRP (ripple) which is heavily backed (VC's) or government regulatory fears or...?

Thanks all really appreciate all your advice. I'm going down the paper route for now as I'm taking a long term approach with this one!

Forth coming proposals under the Irish Presidency of the European Council outlined that bank depositors of values above €100,000 may be at risk. The Cypriot bank crisis seemed to have been the test to ascertain whether this approach should be rolled out EU wide. It now looks to be the front running approach by Europe in an attempt to stem its exposure to banks and financial issues. When discussed that the banking resolutions new regime should come into effect by 2018 EU figures such as European Central Bank president Mario Draghi and EU economics affairs commissioner Olli Rehn were keen to introduce the new regime as early as 2015. It was also speculated by certain EU member states that deposits under €100,000 would be forced to bear losses in the event of a bank collapse even though these deposits would be covered under a deposit guarantee scheme.

I would envisage that there are a great many people out there who, when this becomes general knowledge, will be left with very little options and difficult choices. Firstly we should look at why the powers that be are looking to implement such a regime change. The obvious one is that Europe is running out of money. The not so obvious is that this change may also encourage greater liquidity within Europe. Whether this is merely people hedging their savings and thus spreading the risk between banks, or, encouraging citizens to spend, thus investing their savings in longer term investments such as buying property, stocks and shares or other commodities or investments. In turn this will help drive the Euro (€) down as there will be more in circulation which will make Europe more competitive and so increase incoming investment and provide more Jobs. The later is badly needed as unemployment is at epidemic levels 12.5%. (There are major socio-ecomomic issues becoming apparent throughout Europe as a result of the austerity measures Europe has decided to take since the beginning of the Financial Crisis. I believe this is firmly in the mind of EU leaders and this is one measure (perhaps there only measure) to tackling the issue.)

So what does this mean for Bitcoin? Well if I'm honest... I don't know. But, to speculate, whilst it will initially cause widespread consternation (at least!), the next thoughts will be what to do with their/our hard earned money! Many people will not want to invest in stocks, will not have sufficient capital to buy property, many will hedge their savings in multiply banks. The momentum and advance of Bitcoin and one or two other virtual currencies should offer a most viable solution. 

Stability in bitcoin will be paramount and a true price reflection needs to be established. What would be a viable price estimate for Bitcoin? Well if world GDP is roughly $70 trillion. I second the estimate by RICK FALKVINGE that Bitcoin can achieve 1% of GDP. But instead of valuing the currency based on 11 million + I believe it should be viewed on the total number of coins which will be achieved (21 million). Thus deducting a price in the region of 33,333. The true value of Bitcoin is that it is self backed and linked to its use as a percentage of total world GDP.

All in all Bitcoin is a sure buy right now. If you can live using bitcoin and spend it in daily life then this is better again! Roll on the digital revolution and the new paradigm shift.
 

I've recently signed up to Mt.Gox, deposited my funds and bought btc. All great and very exciting. The problem is I don't even have a bitcoin wallet nor do I know how to withdraw from Mt.Gox!

Any suggestions on what is the most secure wallet to go for? I don't expect to use funds from the wallet weekly but would like the facility to spend and trade as and when I want/need. Also as I'm with Mt Gox is there any way of transfering directly into a wallet? And likewise to a bank?

What does anyone think of CHN Coin?


rJHbXvF1g8nVq6QAdH2EjWgCipsreCx7T3

Please:


rJHbXvF1g8nVq6QAdH2EjWgCipsreCx7T3

rJHbXvF1g8nVq6QAdH2EjWgCipsreCx7T3

Can anyone give me a dig out?

rJHbXvF1g8nVq6QAdH2EjWgCipsreCx7T3

Anyone with an old account who has already received their cudos want to post my account to see if that works please do it.

My a/c is:


rJHbXvF1g8nVq6QAdH2EjWgCipsreCx7T3


Thanks in advance