Madness of crowds is presented on the chart above and it is our top pick for the chart of 2013. Erik Steiner has created a very good presentation on Bitcoin: discussing in depth advantages and disadvantages of this particular crypto-currency and why it is now in the Bubble stage. His observations about the possibility that the Ponzi Scheme architecture is created by design in Bitcoin are very intriguing.
We will add that recent push of Bitcoin by Bank of America, CITI and Merrill Lynch are not very aligned with the "freedom fighters". It looks more and more that corporate interests are already running it wild if they were not the creators of "Gold 2.0" from the beginning in order to distract 99% from the real values of Gold and Silver.
Latest report from China shows that not all the world went crazy these days.
"Bitcoin has crashed to $542 low at BitStamp overnight on reports that China Telecom has taken Bitcoin logo down from its web page. It is time to pick another Gold Substitute: Gold 3.0 - Litecoin Gold 4.0 Peercoin and others to chose from 43 listed here. The supply is limited ... only to your imagination and money invested in the technology and Pump.
It always boils down to the question: what is it better - to look like idiot before the Bubble burst or after that? China is protecting its citizens and encourages them to accumulate Gold. Gold is holding well today after all positive economic news and Bitcoin bust will ignite the new Gold Bull Leg Up breaking its free of any snake oil competition. Next few days will place this experiment for distraction of 99% from the Real Value into perspective for all involved parties."
"All these discussions about the CIA and Bitcoin connections are still in the conspiracy theory category like LIBOR and FOREX manipulations before. After China has banned its financial institutions from participation in Bitcoin the question about who is really behind the Bitcoin is getting more and more interesting.
With Facebook we created for NSA all our profiles, with Bitcoin somebody is mapping our accounts, IDs and Networks. As the case with Silk Road shows Bitcoin transactions are public forever, can be mapped and build into evidence - so much for distribution and anonymity."
"The Bitcoin bubble continues to grow - eventually, it will burst. Provides background on underpinnings of currency and money, explains Bitcoin - what it is, how it is produced etc. - examines advantages and disadvantages of Bitcoin, and analyzes the Bitcoin scheme providing substantiation for a Ponzi like effort on part of the anonymous Bitcoin inventors.