Digital currency Bitcoin hits new high before losing S$200 in value in one day

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Bitcoin may fail not on its credibility, but on the global anti-money laundering effort...

Australia's major banks pull plug on bitcoin companies
22 Sep 2015 11:15
[SYDNEY] Australia's major banks are closing accounts of bitcoin companies, forcing at least 13 digital currency providers out of business in response to tougher rules on money laundering and terrorism finance, an industry body spokesman said on Tuesday.

The move comes just months after Westpac Banking Corp became the last of Australia's four major banks to pull out of the remittances business in order to reduce compliance risks.

Banks globally are exiting sectors that present compliance headaches under pressure from regulators to meet tighter anti-money laundering and counter-terrorism financing rules. "The current bitcoin operating model requires very tough compliance and assurance requirements to ensure we meet the high standards required under anti-money laundering regulations," a Westpac spokesman said. "We continue to monitor developments in bitcoin, including their regulation." Banks have sent letters to 17 bitcoin companies including BitTrade and Buyabitcoin informing them their accounts would be closed, an Australian Digital Currency Commerce Association (ADCCA) spokesman said. "We continue to speak with banks to find a solution to the problem. ADCCA looks forward to guidance from the government as to how the situation can be resolved," he said.
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EUTERS

Source: Business Times Breaking News
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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http://www.marketwatch.com/story/and-201...2016-12-22

And 2016’s best-performing commodity is ... bitcoin?

Bought 1 bitcoin in 2015 to try out the process. And forget all about it until this year.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(23-12-2016, 01:18 PM)opmi Wrote: http://www.marketwatch.com/story/and-201...2016-12-22

And 2016’s best-performing commodity is ... bitcoin?

Bought 1 bitcoin in 2015 to try out the process. And forget all about it until this year.

Based on current prices of ~1400usd/coin, you might have a 4-bagger now.

Fresh breakthrough with regards to acceptance as bitcoin, or simply exuberance?

Bitcoin skyrockets to fresh record high on a spike in demand from Japan
- See more at: http://news.asiaone.com/news/business/bi...WVcNJ.dpuf
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Bitcoin Twice as Expensive as Gold as Buying Frenzy Bites: Chart

by Ranjeetha Pakiam
May 26, 2017, 9:02 AM GMT+8

The bitcoin frenzy just got crazier. The cryptocurrency is now worth almost double an ounce of gold, with a single coin priced at about $2,450. While both are sought as a financial haven in times of political and economic uncertainty, industry executives say the surge in bitcoin is also driven by investors moving to a more established digital asset from riskier versions as more companies embrace the underlying technology.

Some are concerned there’s a bitcoin bubble in the making.
Specuvestor: Asset - Business - Structure.
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I get the hype over bitcoin (the potential for tax evasion, free of centralized control etc) but common sense dictates that this cannot continue forever.
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My auntie friend asked me last week if can invest in bitcoin coz her
friend asked her to invest.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(26-05-2017, 08:18 PM)opmi Wrote: My auntie friend asked me last week if can invest in bitcoin coz her
friend asked her to invest.

Dont u have at least 1 to sell to her?
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No leh. Sold at US$850. Haha. Jialat.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(26-05-2017, 07:04 PM)Wildreamz Wrote: I get the hype over bitcoin (the potential for tax evasion, free of centralized control etc) but common sense dictates that this cannot continue forever.

In short mostly stuff that you'll like to keep in the dark. I'm not even sure why government's bother to support Bitcoin except for bragging rights of being in the "forefront of technology"

Like all bubbles / scam that this forum has identified, this will not end well when liquidity tightens. But most value investors are not very good at predicting the timing Smile
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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i think the the value bitcoin provide is
1. a free path for government and banks to create an international currency transfer.
2. money laundering.

Acting on point 1, bitcoin should be 0 value in long term.

Action on point 2, it should have some value.
Garment needs a money laundering machine too.
Technically it shouldn't go to 0, but neither the value of money laundering is quantifiable.
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