Bitcoin and Freedom. All about Bitcoin, Litecoin and...

[The Dharma Bum]

either of you want to do a microtransaction thru paypal?

[lil bit]

[The Dharma Bum]

Well lil bit.

There is still an opportunity.

In China they are gaining popularity as a hedge against their currency. It's overvalued and non-convertible. However this is scheduled to change between now and 2015 and when that happens the bottom will drop out of their currency. Chinese investors are looking to avoid the 10% or so loss in value that is projected to happen.

This means btc is no where near the top of it's potential.

[gla22]

I thought the Chinese government was artificially holding down the value of the yuan? Pretty sure the yuan is undervalued by 5-10%

[The Dharma Bum]

[The Dharma Bum]

If the yuan rise in value to the dollar, which it has now, then it harms their exports. The recent appreciation pretty much a product of the rise of the Chinese middle class. So they are going to seek a hedge against state controls designed to restore the competitiveness of Chinese exports by undercutting the value of the yuan.

Thus the rise in popularity of altcurrency in China. There are significant arbitrage opportunities between various exchanges as well. It's truly a new global economy in emergence.

edit:
yuan is 6 to 1 with dollar value. Not evenly matched but enough to harm Chinese competitiveness in exports, upon which their economy depends, and spur controls.

[The Dharma Bum]

Markets getting CRUSHED today recommended buy is USD

[Winchester]

IMO bitcoin is going to tank very soon, gonna drag the rest of the digital currencies with them. As more and more of these types of stories come out there is going to be a digital "bank run" as everyone tries to convert to real currency.

Bitcoin thefts soar as online criminals target easy payday after currency's value quadruples in the space of three weeks
http://www.dailymail.co.uk/sciencetech/ ... weeks.html

Sell The Bitcoin Bubble Before It Bursts
http://seekingalpha.com/article/1869931 ... ource=feed

[Bauce]

It looks like it already started Winchester.

[Winchester]