Porsche Sells For 300 Bitcoins In Latest Sign The Virtual Currency Is Going Kablooey
Somebody in Texas claims they just sold a Porsche for 300 bitcoins, the latest sign of a bitcoin bubble. Or the rise of our new bitcoin overlords.
An Austin family bragged Tuesday night that it had sold a 2007 Porsche Cayman S for 300 bitcoins, a virtual currency that has long been little more than a curiosity for financial reporters but is suddenly breaking into the broader consciousness, maybe just in time for the whole thing to go kablooey.Read more »
As it is portrayed on FTL, the bitcoin store is all about serving the bitcoin community, i.e. "selling for cost." lol Seriously? The store is selling/gambling on upward valuation. It's not a "charity" type enterprise at all. It hedges it's sales on the hope that what it takes in low bitcoin value will be able to sell back to legitimate currency at a far greater rate.Read more »
We tried for two days to get in touch with someone at The Dollar Vigilante, to no avail.
But Berwick has now responded via email to our contentions.
Here is his response in full, as he framed it, with his cuts from our original story in quotes:
APRIL 2013 - The dramatic recent events in Cyprus have highlighted the fundamental weakness in the European banking system and the extreme fragility of fractional reserve banking. Cypriot banks invested heavily in Greek sovereign debt, and last summer's Greek debt restructuring resulted in losses equivalent to more than 25 percent of Cyprus' GDP. These banks then took their bad investments to the government, demanding a bailout from an already beleaguered Cypriot treasury. The government of Cyprus then turned to the European Union (EU) for a bailout.Read more »
Already bigger than many sovereign currencies, Bitcoin has broken the $1 billion in value mark this week. In the wake of continuing economic crises and liquidity shortages, this new virtual currency is poised to challenge the euro and US dollar.
By not being tied to any particular financial institution and independent from world governments, Bitcoin will become a safe haven for anyone trying to save their money from the crippled international banking system, claimed Max Keiser, the host of RT's Keiser Report.
Uh..The Radio. GLENN BECK SAID " BITCOINS " ON HIS SHOW THIS MORNING, then he said "sounds highly illegal", and after a whole 45 seconds he moved on to another subject!Read more »
They won't make a sound no matter how many of them you try to toss in a bucket, and you can't pitch them in a fountain and wish for good luck. But make no mistake, bitcoins are getting big.Read more »
Over the years, Bitcoin has experienced ups and downs; the currency has been targeted by hackers and thieves and botnets and been victim to more than one embarrassing software glitch. But it has persevered, and this week, one can fairly say that Bitcoin came of age. On Monday, the U.S. Treasury’s Financial Crimes Enforcement Network released its first “guidance” as to how “de-centralized virtual currencies” should fit into the larger regulatory regime under which currencies of all kinds are required to operate.Read more »
Vice article comparing gold and bitcoin as viable currency alternatives to the USD.Read more »
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