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Bitcoin price quietly doubles

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#1
It had been in the low $200s or below for a good many months, yet doubled since last week (around $440 as of now). The reasons given are all over the place, including new Chinese investment, positive media coverage, and an EU ruling that bitcoin is currency. I guess it's going to the moon again and no one even noticed.
 
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#3
Bitcoin has been on a tear for over a month after being dormant for a long time. Over just the past 30 days Bitcoin has risen from $250/BTC to $350/BTC. No, this is not attributable to a new Mt. Gox trading platform that has run rampant with hedge funds but rather a choice between BTC and the two other "safety assets" that will survive the coming chaos...Gold and Silver.

Looking at the current Market Capitalization of the 3 BEST ABOVE GROUND safety nets tell me which looks more appealing:

"ABOVE GROUND" MARKET CAP: Gold = $70 Trillion

"ABOVE GROUND" MARKET CAP: Silver = $96 Billion

"ABOVE GROUND" MARKET CAP: Bitcoin = $5 Billion

Yes, Gold and especially Silver will also make a huge run very soon but Bitcoin still has a long, long way to go to "catch up" and the BIG MONEY players that have been slowly accumulating BTC are starting to panic so hang on tight to that Bitcoin Rocket as it blasts off into No-Man's land.

Oh, and keep an eye on the CHINESE Bitcoin action at the below website during the evening hours(their daylight hours) as the Chinese are getting OUT of their traditional markets and INTO Bitcoin in droves!
 

earplugs

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#5
I hope you make a ton of money. Everyone I've talked to said they had their big big chance. They failed to capitaoize because the didn't listen to that inner voice.
 

Po'boy

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#7
Trading one fiat currency for digital fiat, just seems odd.
In the event of an emp what do ya trade with?
Paper bitcoin iou?
 

Mujahideen

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#8
Trading one fiat currency for digital fiat, just seems odd.
In the event of an emp what do ya trade with?
Paper bitcoin iou?
In the event of an emp, you won't be getting any money from your bank accounts, credit cards or atm, you also won't be buying anything at the register... And your car isn't going to work unless it's really old. So your paper dollars won't be worth squat shit hit the fan. Bitcoin ain't the only thing that would go down.

Trading your currency for Bitcoin makes sense if the currency you are trading has tight government controls or is inflating away.
 

Po'boy

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#9
In the event of an emp, you won't be getting any money from your bank accounts, credit cards or atm, you also won't be buying anything at the register... And your car isn't going to work unless it's really old. So your paper dollars won't be worth squat shit hit the fan. Bitcoin ain't the only thing that would go down.

Trading your currency for Bitcoin makes sense if the currency you are trading has tight government controls or is inflating away.
Gold and silver.
Emp proof.
 

gringott

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#10
I think the point is being missed, China capital controls, I would guess hard to move physical gold and silver out of the country, bitcoin goes around those capital controls so they can access it after they flee China. I suspect things are going down in China pretty quickly now in a financial sense. Plus remember they were freezing stock sales too. Capital is like water, looking for the cracks it can flow through.
 

gringott

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#12
So all China has to do is regulate the central exchanges?
I am sure that something like that will follow soon. Watch for the crackdown if too much Capital flees that they don't want to allow.
 

SilverCity

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#13
I think the point is being missed, China capital controls, I would guess hard to move physical gold and silver out of the country, bitcoin goes around those capital controls so they can access it after they flee China. I suspect things are going down in China pretty quickly now in a financial sense. Plus remember they were freezing stock sales too. Capital is like water, looking for the cracks it can flow through.
Wouldn't BitGold serve just as well?

just sayin'

SC
 

SilverBuyer

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#15
Even just plain old pm sent by mail.
Try sending it out of the country and then you are dealing with customs, possible confiscation if you are doing it to get around capital controls. Or crooked govt officials could just steal it as well.
 

Po'boy

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#16
Try sending it out of the country and then you are dealing with customs, possible confiscation if you are doing it to get around capital controls. Or crooked govt officials could just steal it as well.
Everything has risks.