Bitcoin's value halves overnight as China tightens restrictions on new deposits, most other cryptocu

[turing]

the only people losing out right now are speculators really

all the services providing goods for bitcoins and allowing merchants to use bitcoin keep working (bitpay etc), nothing changes really for the merchants

also for the people saying that bitcoin is going to die off now because this was a huge crash are wrong, as people who used it before are going to keep using

[theLazyLion]

Imagine the feeling of the guy who sold his Tesla S for $90,000 worth of bitcoins right before this crash.

[judywhite]

Litecoins' exchange rate is so low, it isn’t worth mining for me. BTC will remain dominant in the crypto currency scene, believe me.

[BLOODGA$M]

I frankly don't see how crypto-coins are that different from our slips of paper. Because a government backs the paper money? The value of government-backed paper money still gets shit all over by things like inflation and market crashes and exchange rates, it still gets illegally shifted and laundered and counterfeited en-masse, and it still really only has value because enough people insist that it does just like crypto-coins. It's not like your paper slips are certificates that you can trade for precious metals anymore.

I'm not saying that I fully support crypto currency or that I think its going to be a big success, but the idea behind it does seem to make sense in an era where everything is increasingly becoming globalised and virtualised and so much of the economy is driven by the internet. Like a solution to the issue of so many countries having different currencies and exchange not always working elegantly, albeit maybe not the best implementation of such a solution.

[judywhite]

Chinese restrictions of virtual currency sink Bitcoin’s value. In fact, prices went down at 60%, however lately, the price was restored at 1000USD. Bitcoin is truly unpredictable, eh?

[Incoming.]

Money laundering is a powerful influence.

[duno]

You made me panic you jerk.