Ben Swann: Is BitCoin Real Capitalism? YES: One of the Best Examples of REAL Capitalism; EconDemocracy in Action + Max KeiserSubmitted by AnCapMercenary on Tue, 10/29/2013 - 11:25
Ben Swann: Is Bitcoin Real Capitalism?
Published on Oct 29, 2013
Media doesn't talk about Bitcoin very often. When they do, it tends to be negative. Love it or hate it, is Bitcoin one of the few remaining examples of true capitalism?
** News of BitCoin's demise has been greatly exaggerated:
Submitted by Tyler Durden on 10/19/2013 20:29 -0400
Submitted by Jonathan Stacke via The Genesis Block,
The last week has seen dramatic upwards price action in the bitcoin markets, driven by a series of macro and micro events across the globe. The fallout from Silk Road’s closure turned out to be but a blip in bitcoin’s price history, with significant gains since then. Turmoil in global financial markets and recent news of leading global websites accepting bitcoin may have bolstered enthusiasm for digital currency, but most interesting may be CNY’s definitive recent price leadership.
Compared with prices before the brief Silk Road drop, bitcoin exchange rates have climbed 14% in the last two weeks. At $145/BTC on Bitstamp, bitcoin has reached a level not seen since late April, and the only time that level has been reached on more than three consecutive days was from April 3-11 during the bubble.
Notably, the market has been significantly less volatile leading up to this level recently, compared with April. The 3DMA volatility leading into this level previously was between 13% and 22%, compared with just 4% currently.
Five Reasons For Bitcoin's Most Recent Price Surge
Kashmir Hill, Forbes Staff
10/23/2013 @ 3:07PM |17,633 views
Bitcoin breaks $200 again.
The price of Bitcoin is climbing as fast as Sandra Bullock’s post-Gravity reputation. It’s up to $200 – $219 USD on major Bitcoin exchanges, hitting highs it hasn’t seen since the spring. What’s driving the price up? I spoke with a few experts and analysts in the field for their takes. Here are five possible reasons for the fall frenzy:
1. Bitcoin is so hot in China right now.
2. Bitcoin survived Silk Road’s fall.
3. Everyone’s talking about Bitcoin because of Silk Road’s fall.
4. Silk Road’s seizure just took a bunch of Bitcoins off the table.
5. Bitcoin is being touted as the next Twitter/Facebook /LinkedIn investment possibility.
Thank God, corporatist govt terrorists are always the last to learn about the Streisand Effect, eh?
UPDATE 1: Max Keiser's latest on BitCoins
Keiser Report: Bitcoin - Resistance Starts Here! (E516)
Published on Oct 29, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss the revolutionary solution that takes money and power from those who hate and gives it to those who will no longer wait for celebrities and pundits to cogitate, agitate and debate whether or not wristbands and hashtags - oh so quaint - can stop the plunder and pillage by the conmen, hucksters, and banksters backed by the state.
The currency is already creating economic value across Africa, China and the developing world while Brits destroy economic value by moving their money into yet another corrupt bank.
In the second half, Max interviews Simon Dixon of BankToTheFuture.com about peer to peer lending and the future in which the population can deploy their own capital in more productive ways.
FOLLOW Max Keiser on Twitter: http://twitter.com/maxkeiser