I have to say, I agree with Mike Adams. NWO is always intimidated by non-government currency, and will always attack it.
Step 1) Central banks buy up massive quantities of bitcoin currency, driving the prices into the stratosphere and encouraging millions of people around the world to jump on board the “get rich” bandwagon.
Step 2) Once bitcoin valuations reach a sufficient level of insanity, start a massive selloff by dumping the bitcoins you already bought onto the market, offering them for sale at any price (i.e. sell into falling prices, accelerating the loss in valuations).
Step 3) Watch panic take hold as the bitcoin crash accelerates, ending in a catastrophic wipeout of “valuation” of all bitcoins.
Step 4) Find “victims” of the bitcoin crash who can tell a good sob story for the mainstream media about how they invested little Johnny’s college money in bitcoin and lost it all. Roll them out on CNN and MSNBC where they cry on camera and talk about how they were ripped off by bitcoin and now they only trust the government from now on.
Step 5) Demonize bitcoin by characterizing it as a “libertarian pyramid scheme.” Lash out against both decentralized currencies and libertarians.
Step 6) Once the demonization gains traction, have traitors in the U.S. Congress announce a “Consumer Currency Protection Act” that outlaws non-central bank currencies such as bitcoin. It’s all “for your safety,” of course. Shut down all online bitcoin wallets and exchanges, calling them “criminal pyramid schemes” and arrest a few people using bitcoin to send a warning message to the rest.
I doubt it, to me it looks like a combination of good old profit taking and the panic in Cyprus is wearing off. The price went to over $180 and a lot of those folks got in at prices below 90. At that point it makes a whole lot of sense to convert half the money back into USD or whatever currency. And also in a rapid rise like this you drop buyers who begin to hold out for a drop.
I think Ripple makes BitCoin obsolete.
Ripple is immune to DDOS attacks (or government raids) because it's completely decentralized.
Also, it doesn't require mining or wasting energy and harming the environment like BitCoin does. It has even lower transaction costs than BitCoin - it doesn't need to "reward" people for handling transactions.
Plus, it's being launched with real VC capital and not just by a bunch of hackers.
I am much more excited by Ripple than I am by BitCoin!
i read that article on bitcoins recently on lewrockwell.com.....but I still have no idea how a bitcoin works. it doesn't seem straight forward at all.
how is it valued? how do you buy one? if it takes 2 or more paragraphs to answer one of these questions....then I say its too complicated.
should be salted with "try"'s, peppered with "attempt"'s, and we will have epic failure of the authoritarian complex for dessert. I'd love to see them go after cryptocurrency because the next step is deniable cryptocurrency.