The cryptocurrency tumbled in value (Image: Information Week as Chinese and Dutch authorities forbade their banks from accepting Bitcoins late last week
It’s almost come to symbolize the war between planned society additionally the maverick movement away about them late last week from it, but whatever your views on Bitcoins the world’s most popular cryptocurrency and much in the news of late the news was not good. After several weeks of skyrocketing value hikes that took the digital money from about $60 per Bitcoin last March to more than $1,200 in late November, a stern warning from the central Chinese bank maybe not to manage the currency caused a tumble that, as of press time, had Bitcoins poised between $731 and $737 in US dollars.
Meaningless Currency
The warning came following the bank noted that the cryptocurrency doesn’t have ‘real meaning’, does not have any backing that is legal shouldn’t be dealt with by the Asian country’s banking institutions at all. Also noted & most likely more during the base of the Chinese banking system’s disdain your money can buy were the present high-profile connection between Bitcoins and money laundering and illegal goods procurement, specially on web sites like Silk path, which was recently seized and shut down by the FBI, only to reopen a month later ‘under new management.’
Prior to the publicly issued warning, Bitcoins were gaining in popularity with the Chinese as (more…)