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Author Topic: 2013-06-10 CoinDesk: PRISM’s effect on bitcoin prices  (Read 1003 times)
ganabb
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June 11, 2013, 11:50:33 AM
Last edit: June 11, 2013, 02:05:06 PM by jgarzik
 #1

http://www.coindesk.com/prisms-effect-on-bitcoin-prices/

what you will about the revealing of the U.S. government’s program for phone surveillance as well as data collection from American tech companies known as “PRISM”. Since the story broke, it has clearly had an effect on the price of Bitcoins. Don’t believe it? Take a look at this timeline of events from last week posted by the EFF when compared to a chart of the price of Bitcoins on the Mt. Gox market.

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June 11, 2013, 11:52:04 AM
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Who are Coindesk's journalists??? Ugh, for the millionth time corration =/= causation

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June 11, 2013, 01:03:32 PM
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Who are Coindesk's journalists??? Ugh, for the millionth time corration =/= causation

You're right about the probable correlation irrelevance, but I found the piece worth reading despite both that and occasional grammatical oddities - I got the impression the author's first language is not English.

The piece seemed to undercut its own sensationalism with "people who believe that some currencies should be out of government hands should in fact be buying Bitcoins as a result of the past week’s news."

This snippet caught my eye also: “There is a massive apparatus within the United States government that with complete secrecy has been building this enormous structure that has only one goal, and that is to destroy privacy and anonymity, not just in the United States but around the world,” said Glenn Greenwald, the Guardian reporter speaking on CNN. “That is not hyperbole. That is their objective.”

Assuming that is true - what would follow from it? What should a person do, especially in the context of BTC? Things are heating up.
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June 11, 2013, 05:41:07 PM
 #4

Who are Coindesk's journalists??? Ugh, for the millionth time corration =/= causation

Same type of journalism at CNBS and other play-by-play reporting, they go with whatever resonates with readers or piques their target market's interest.

But there's nothing saying Bitcoin doesn't continue to get a little boost as a result.   Just like Cyprus alone wasn't responsible for lifting Bitcoin trading value from $30 to $200 or whatever, it definitely played a part.  Cyprus was betrayal, as is PRISM.

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