So..conspiracy?

[krodmandoon]

So in the past few days or weeks whatever, a lot has happened.

1. Emergence of major BTC hedge funds
2. IRS declares that the capital gains tax on property will be imposed on BTC
3. China bans BTC, again.

New power players with loads o' dough, tax rules in place for US to get some, price drop initiated.

I'm not saying that the suits are driving this but it sure seems to me that it can't be too far off, right?

[Mageant]

So what would you if you had immense power by controlling the world's central banks and then suddenly Bitcoin comes along and threatens to take away all your power?
Sit around and do nothing?

[leopard2]

So in the past few days or weeks whatever, a lot has happened.

1. Emergence of major BTC hedge funds
2. IRS declares that the capital gains tax on property will be imposed on BTC
3. China bans BTC, again.

New power players with loads o' dough, tax rules in place for US to get some, price drop initiated.

I'm not saying that the suits are driving this but it sure seems to me that it can't be too far off, right?

It is not a conspiracy theory

But a conspiracy practice 

Same with Goldman Sachs: they are bearish on gold, target 1050 end of 2014. Blablablah. But they buy Gold ETFs massively at the same time.

http://goldsilverworlds.com/trading/its-official-goldman-sachs-was-buying-gld-while-advicing-to-sell/

And right now, again:

http://www.cnbc.com/id/101220299

Talking the price down of what you want to buy, that's it.

[franky1]

correcting you

2. IRS declares BTC is not monopoly money. but a real store of value which should be taxed when converting back to fiat.
3. China again warns banks they have until april to stop banks from having BTC in the banks investment portfolio, warning BTC excanges to get telecommunications licences, and informing citizens of the risks of investing. but not banning citizens.

[coinyear]

So what would you if you had immense power by controlling the world's central banks and then suddenly Bitcoin comes along and threatens to take away all your power?
Sit around and do nothing?

I won't sit here and do nothing.

[counter]

I just use my imagination and put myself in the shoes of these people.  They can afford to research it so they know what it is.  If they haven't taken it out by now they will try something else.

[krodmandoon]

Just glad to have a thought confirmed. Now I can go back to the string connections on my wall in my foil lined basement.

[ryanmnercer]

Or perhaps it's just gaining steam worldwide, with lots of media attention and governments are finally taking stances on bitcoin... all three of which create volatile prices on their own.

[mycoin25]

So what would you if you had immense power by controlling the world's central banks and then suddenly Bitcoin comes along and threatens to take away all your power?
Sit around and do nothing?

I won't sit here and do nothing.

Seriously, it matters a lot if you are looking to make a huge investment. If you break it into pieces, remember what you buy today has an extremely good chance of being higher within a year or two (or much sooner)

[counter]

Just glad to have a thought confirmed. Now I can go back to the string connections on my wall in my foil lined basement.

the hell you say... we must have the same interior designer.  Because your describing my basement to a T

[Bit_Happy]

The next few days & weeks will be even better.
We are due for good news to take over soon.

[jcoin200]

The next few days & weeks will be even better.
We are due for good news to take over soon.

Hasn't everyone been saying that for the last 3 months?  Like when Overstock started to accept BTC?  I mean there still has been no movement but slow deflation of its value

[Bit_Happy]

The next few days & weeks will be even better.
We are due for good news to take over soon.

Hasn't everyone been saying that for the last 3 months?  Like when Overstock started to accept BTC?  I mean there still has been no movement but slow deflation of its value

Hasn't everyone been saying that for the last 3 months.
We are clearly 3 months closer to the actual bottom. 

[Zooey]

oh come on, we all know what's coming next. no need to start tripping out on us bro; we got this.  close your eyes, lean back and smoke this one out.

[jcoin200]

The next few days & weeks will be even better.
We are due for good news to take over soon.

Hasn't everyone been saying that for the last 3 months?  Like when Overstock started to accept BTC?  I mean there still has been no movement but slow deflation of its value

Hasn't everyone been saying that for the last 3 months.
We are clearly 3 months closer to the actual bottom. 

So any call on the actual bottom? I almost pulled the trigger for buying about 10k worth at 580, then thought I'd wait a week, then saw 500, now 460. The bottom could be here, or could go back to $100. I don't see any reason for the bottom to be here now.

The only thing that might change that is some major retailer starts to take btc and offers some sort of incentive to shop with btc.

I mean even with places like overstock and pro sports teams (sacramento kings) taking btc, the price has just slowly been declining

[ryanmnercer]

So any call on the actual bottom? I almost pulled the trigger for buying about 10k worth at 580, then thought I'd wait a week, then saw 500, now 460. The bottom could be here, or could go back to $100. I don't see any reason for the bottom to be here now.

The bottom could be 0 too. Just remember, don't risk what you can't afford to lose.

[nakaone]

So any call on the actual bottom? I almost pulled the trigger for buying about 10k worth at 580, then thought I'd wait a week, then saw 500, now 460. The bottom could be here, or could go back to $100. I don't see any reason for the bottom to be here now.

The bottom could be 0 too. Just remember, don't risk what you can't afford to lose.

I highly doubt that the button will ever be 0, unless a far superior system is invented and widely adopted.


I would estimate that at least 90% of the price is given by speculators playing Keynes beauty contest, these days the speculators think that the other speculators think that the winner is low prices due to some uncertainty in the markets, nevertheless the game they are also playing is who gets the most bitcoins - I highly doubt that people are leaving the market. When some panic buying starts it will be funny, I expect quite a price spike once the contest is going in the other direction.

To get a broader picture, Bitcoins market cap, is lower than M1 of Macedonia...

[Beliathon]

So what would you if you had immense power by controlling the world's central banks and then suddenly Bitcoin comes along and threatens to take away all your power?
Sit around and do nothing?

I would secretly buy as much as I can while publicly denouncing it.

[krach]

I think the three things in the OP are not directly related.

China would like to just ban bitcoin but cant figure out the best way. A straight up ban might be counterproductive. Maybe they are just trying to defacto ban it slowly on the hushhush rather than give crypto free advertising by implementing an outright ban and feeding the fire of the Chinese bank runs that are going on right now.

[krodmandoon]

It is worth admitting that they may not be related. But,

US owes lots o' dough
China owns lots o' debt
US makes hedge funds for BTC legal and implements tax laws
China "bans" BTC which drives prices down, down, down
Uncle Moneybags buys BTC on the cheap

Que the price spike and profiteering.

I wouldn't put it past the two largest economies in the world to take total advantage of the network for their own gain.