Bitcoin Exchange Value Halves After Chinese Ban 475
An anonymous reader writes with news of the latest major fluctuation in the price people are willing to pay for Bitcoins. From the article: "China's ban on its financial institutions handling bitcoin causes world's largest exchange to cease trading, halving the value of the currency from $1,000 to less than $500 in a matter of days. The country's central bank took a hard line on Bitcoin in early December when it banned financial institutions from handling the decentralized crypto-currency, and as a result BTC China, the world's largest bitcoin exchange, has stopped accepting deposits from its users."
Just watch that line trend downward.
Darn! (Score:1, Funny)
Darn! Just when I finally got the BFL miner I ordered over a year ago - and silly me thought my 5GH miner was going to make me stupid rich...
This is just a clever trick by China . . . (Score:5, Funny)
Now that they have driven the price of bitcoins down, they will now buy up all of them at low prices . . . and then . . . announce that the will accept them as currency . . .
Profit!
Re:Darn! (Score:5, Funny)
silly me thought my 5GH miner was going to make me stupid rich...
One out of two ain't bad.
Re:This is just a clever trick by China . . . (Score:3, Funny)
Okay, great, so why don't you buy some now and profit too?
Buying bitcoins seems a lit like buying drugs or hookers. I may want to, but if I haven't done it before, I don't have the slightest idea how to go about it without getting screwed. Or not, in the case of the hookers.
Re:"Proof against tyranny" (Score:1, Funny)
Re:Buttcoins! (Score:3, Funny)