Please use this thread to only post confirmed news from confirmed sources to help everyone understand what is obvious -
bitcoin is in a downtrend to oblivion.
My latest find comes, of course, from
official sources in China and details how the Chinese government is planning a massive 99% attack on the blockchain. I'll put the main points below, but anyone can check the facts from the source:
1.
Chinese offials delcare bitcoin a global financial
virus2. Officials from
other nations are in
agreement with china China, including
the US
3. The Chinese government has
millions of petahashes ready to deploy on the blockchain to destroy the protocol
4. In
addition to attacking the blockchian, China
will sell all their mined
bitcoins on MtGoxIt's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news?
Yup, I've heard from some well placed friends in HK that there are mentions of PLA Unit 61398 already working on ways to cripple bitcoin. They'll likely attack the network aspect of BTC instead of attempting double spend. A vast chunk of btc's value would vaporise on the basis of it being vulnerable to delay even though it wasn't breached. The attack will begin any day now, I feel sorry for anyone who hasn't sold yet.