Bitcoin Is a High-Tech Dinosaur Soon to Be Extinct
Here is another very sobering view from China on Bitcoin:
Stephen Mihn provides very interesting historical perspective on Bitcoin. If you study the history you can know the future. Currencies come and go and some was even thought to be better than Gold for a while, but only for a while. Once you can "print" or "create new Gold" - it is not Gold any more.
Bitcoin bubble won't last without Beijing's approval
"Bitcoin is a bubble that foreigners cooked up and, by all appearances, is designed to rob the credulous Chinese masses. When the bubble bursts, the Chinese government won't be able to arrest these foreigners and get the money back. The bubble is not under Chinese government control. Hence, it cannot be tolerated."
Stephen Mihn provides very interesting historical perspective on Bitcoin. If you study the history you can know the future. Currencies come and go and some was even thought to be better than Gold for a while, but only for a while. Once you can "print" or "create new Gold" - it is not Gold any more.
"Gold 3.0": Want to create the next Bitcoin? This website makes it easy – too easy
"So much for the "Gold 2.0" and new store of value - Bitcoin's value proposition is fading away by the day. It is not so anonymous as a lot of people think, it is not so easy to transfer, scams around Bitcoin are happening daily in more and more forms. Banksters are entering the game if they were not there already from the very beginning. And NSA prints are all over Bitcoin according to some reports on SHA256. But now you can have your own Gold 3.0 - just chose the name. OK, maybe for you it will be difficult to compete with pumpers of Bitcoin, but JPMorgan or FED can easily do so. It is very interesting to note that China has effectively banned Bitcoin from any authorised financial transactions, but FED is not so restrictive at least now - so who is really behind it now?
With Bitcoin crossing $1000 mark again at Mt.Gox today we issue our Warning like we did last time. Bitcoin is building a Double Top potentially and level of $1240 will be crucial. It is the great present to Chinese holders - we guess that they will be happy to sell into this strength with restrictions for FIAT withdrawals from Exchanges coming in place by end of this month."
With Bitcoin crossing $1000 mark again at Mt.Gox today we issue our Warning like we did last time. Bitcoin is building a Double Top potentially and level of $1240 will be crucial. It is the great present to Chinese holders - we guess that they will be happy to sell into this strength with restrictions for FIAT withdrawals from Exchanges coming in place by end of this month."
Christopher Mims: The existential threat to Bitcoin its boosters said was impossible is now at hand
"Another day and another blow to Bitcoin, as we have written before: people will be able to corrupt everything in time. Cristopher Mims investigates the technical threat to Bitcoin's decentralised infrastructure from the coordinated attacks. Risk of Double Spending is the real issue now."
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