Thursday, January 15, 2015

Bitcoin keeps falling, and worries keep rising

Bitcoin which has lost nearly 50% of its value since the summer of 2014 on worries that regulation is coming. While New York has soften its stance on "BitLicense", they're still demanding full access to customer databases. In other words, digital currency, despite bold claims to the contrary, will not defeat public money. Government needs money to fund its pension. It also sees digital currency as an elimination of expenses, the future of money, and most importantly an efficient new source of funds.

Those that hold power, makes the rules. Any suggestion that circumvents this axiom should be considered tabloid magazines fodder.

Headline: Bitcoin keeps falling, and worries keep rising

Following a 15 percent drop on Tuesday, the price of bitcoin took another hammering on Wednesday, making some traders worry about the stability of the cryptocurrency.

Bitcoin—which saw levels above $400 in November and topped out at $1,150 in 2013—briefly fell as low as $170 in Wednesday morning trading before edging back a few dollars. Bitcoin is notoriously volatile, but its swings are often linked to news about the technological ecosystem that supports it. This time, however, the source of the day's 22 percent drop is less obvious.



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