Any truth to this rumor?

[genthis]

I just read on FB that the recent rise in price is due to the Western banking interest buying up shares to clear out competition for their own crypto-money due out sometime in 2014? A little unfair if my bitcoins have to compete with a bank that doesn't have to use third party transactions and can guarantee my balance if they get lost or stolen. There's also something about China trying to buy up bitcoins to mess with American interests. I dunno???

[oldtimegin]

I would say good luck to this bank.

Bankers do not have very high trust in society so I do not think anyone would want such a coin.

[Inedible]

I just read on FB that the recent rise in price is due to the Western banking interest buying up shares to clear out competition for their own crypto-money due out sometime in 2014? A little unfair if my bitcoins have to compete with a bank that doesn't have to use third party transactions and can guarantee my balance if they get lost or stolen. There's also something about China trying to buy up bitcoins to mess with American interests. I dunno???

You're right - it's just a rumour.

There's no truth to these stories.

[vm1990]

im pretty sure the current price is down to china taking a very large interest in it

[URSAY]

I just read on FB...

You should of just stopped there.

[BRADLEYPLOOF]

http://www.stamfordadvocate.com/technology/businessinsider/article/There-s-An-Electronic-Currency-That-Could-Save-4999475.php

Yes, there's truth to this rumor.

[Sindelar1938]

Rumour without foundation

Doesn't make logical sense

[MicroGuy]

I just read on FB that the recent rise in price is due to the Western banking interest buying up shares to clear out competition for their own crypto-money due out sometime in 2014?

The price is rising because the "secret" of bitcoin is finally entering into the consciousness of the mainsteam.

The internet was around for many years before it became so popular. Now the next step is when people find out there's more than one currency, more than bitcoin. This might take a couple of more years or maybe just a few months.

So consider yourself lucky! You have found this forum and you have read this post. So now you can explore the future and invest in time to perhaps bring yourself abundance.  

Just remember to always choose wisely: http://coinmarketcap.com/

[raspcoin]

http://www.stamfordadvocate.com/technology/businessinsider/article/There-s-An-Electronic-Currency-That-Could-Save-4999475.php

Yes, there's truth to this rumor.

Thank you for sharing. I am still sceptical about this initiative, as it does not solve the trust problem.

[bimblebob]

Could be truth about china

[Kiki112]

I would say good luck to this bank.

Bankers do not have very high trust in society so I do not think anyone would want such a coin.

this says it all, no one will buy their coins which they created with their stolen money

[t3xasdolly]

I just read on FB that the recent rise in price is due to the Western banking interest buying up shares to clear out competition for their own crypto-money due out sometime in 2014? A little unfair if my bitcoins have to compete with a bank that doesn't have to use third party transactions and can guarantee my balance if they get lost or stolen.

Banks already providing this centralized "crypto-money". Just create bank account with online access

[PenAndPaper]

So banks are buying bitcoins to destroy it and issue a centralized e-currency instead? Does that even makes sense?

[stereotyyp]

I think that there is something fishy going on with BTC. Prices are going up really fast -seems like more speculators are entering to market.
It is only good for bitcoin - price will rise insanely.
But this market is so fragile - i would like to see BTC price after there is some bad news about it. Something that USA is planning to ban btc protocol..

[Green2bit]

China stepping in would not be shocking. They do not miss a beat.

[scarsbergholden]

i think that rumor is bunk. totally bunk, man.

[monbux]

huh.  My opinion was just that china has been buying bitcoins for the last few months, and that's how bitcoin prices multiplied.  The exchange BTChina is handling probably well over 40% of trades now.

[danaho]

just trying to get out of newbie jail..thanks

[bitcreative]

I don't think banks support crypto currency now. It might be a rumor.

[Anon136]

government cant "solve the bitcoin problem" by buying them all and destroying them or locking them up. they are far too divisible, all they would do is drive the price up which would be exactly contrary to their interest. it is however possible that they have been buying them up with the intention of pushing bitcoin someday.

as far as the chinese government is concerned this is probably exactly right.