Quote from: MatTheCat on April 20, 2014, 11:45:01 PM

Quote from: keithers on April 20, 2014, 11:18:37 PM

Quote from: MatTheCat on April 18, 2014, 11:50:21 AM

I used to and even invested £500 once in Bitcoin way back in 2011. Without caring if I lost the money (a small amount compared to what I was piling into gold n silver at the time) but just doing it to provide the market with liquidity and 'support' the cause. Unfortunately for me, all those coins ended up on Silk Road, as did countless other single digit coins. I never bought my first speculative BTC until late Nov 2013....not entirely out of stupidity as I work offshore for weeks at a time and often can't participate in obvious bull runs etc.

These days I take a much more cynical view of Bitcoin. I suspect that Bitcoin was created by the NSA and intended as a means of facilitating capital flight out of lesser nation's economies. Even if I am wrong and the received wisdom of Bitcoin being created by a lone libertarian cyber-anarchist is correct, Bitcoin has turned into a great big blood thirsty andd highly manipulated cut throat market that wants to feast on your hard earned fiat.

So no, I don't 'care' about Bitcoin or it's development as a unit of exchange. It is a market like any other in which an individual may enrich himself, or impoverish himself. Right now, the odds are stacked far higher on investors losing money. That is the nature of bear markets where liquidity is leaving the market as opposed to bull markets where liquidity is pouring in, and Bitcoin is just as vicious in its retreat as it was voracious in its advance.

So you are thinking that bitcoin is the universal currency created by the New World Order?

Perhaps a prototype of such a currency. A pilot scheme perhaps whose ultimate implementation is aimed towards facilitating capital flight from economies that the US dominated West are wanting to or happy to see being crushed.

Putting the tinfoil hat to one side however, what is a more likely scenario?

Bitcoin, the ingenious and uncrackable decentralised digital currency using cryptographic algorithms developed by US intelligence is invented by:

a) A team of coding and cryptographic specialists, pooled together under one roof with unlimited resources thrown at them to develop and perfect the technology over many years.
b) Some lone working Japanese American model train geek who got tired of paying international wire fees when ordering toy trains from the UK, so came up with Bitcoin in his spare time, presumably.

For me, the unquestionably more likely scenario has me reaching back for that tin foil hat.

Not to play devil's advocate or anything, but if that truly is the case, wouldn't you want to be on the right side of this then and stock up on as many BTC as possible?