02.07.14
Wow, very rich, wonderful coin: Run on the bank
BitCoin fans, hard at work, create problem for big BitCoin bank:
The price of Bitcoin dropped on Friday after one of the leading exchanges that handles trading of the crypto-currency halted withdrawals.
Mt. Gox, which calls itself the most established Bitcoin exchange, said all Bitcoin withdrawals “will be on pause.” It did not say when withdrawals would resume but said it would provide an update on Feb. 10.
Mt. Gox said an increase in withdrawal requests caused “technical” problems.
“To understand the issue thoroughly, the system needs to be in a static state …”
The price of Bitcoin in Pasadena, today — $763
“The price of a Bitcoin dropped to $701.56 on Friday, down 8.2% from $764.35 the previous day, according to Coinbase, a Bitcoin digital wallet and online platform,” reads USA Today.
Make me a believer. I’ll try anything once. Escape from WhiteManistan now accepts Bitcoin.
From a New York Times profile on Charles Shrem, the 24 year old BitCoin millionaire recently arrested and charged with money-laundering by the US government:
The charges were surprising given that Mr. Shrem often appeared at Bitcoin events talking about how to trade Bitcoin legally. At a Bitcoin conference last year, he boasted that BitInstant was “going to be the shining city on the hill.???
Would Ronald Reagan have loved BitCoin?
Perhaps the Winklevoss twins could answer that. They helped raise a $1.5 million dollar investment in Shrem’s business.