Nov 18 The US is going to hold a congressional hearing on Bitcoin: The U.S. Senate Committee on Homeland Security and Governmental Affairs will meet on Nov. 18 "to explore potential promises and risks related to virtual currency for the federal government and society at large," it said in a statement today. The hearing, titled "Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies," will invite witnesses to testify about the challenges facing law enforcement and regulatory agencies, and include views from "non-governmental entities who can discuss the promises of virtual currency for the American and global economies." http://www.zerohedge.com/news/2013-11-09/bitcoin-touches-400-senate-starts-asking-questions-does-fed
Ding ding ding, laws created against BTC because it's risky for everyday people! Gov telling us what we can and can't do.
Don't act surprised when it happens This is the primary risk of all bitcoin holders So what is the future price if the US govt declares it illegal because of organised crime
I don't see that as the primary risk. Chinese / Russians / Europeans don't care what U.S. laws are imposed. (probably most U.S. citizens don't care either - the ones holding bitcoin are often anti-gov) The primary risk I see is early adopters selling off 1000's at a time when their strike price is reached.
And other early adopters selling off similar amounts when they see the price start to drop substantially. It will snowball that's for sure. Just depends what price.
Can't really take advantage of any of this because I don't have any money/bitcoins in any exchange at moment!
I'm sitting here watching this mayhem with the devil on one side and the angel on the other.. sell while you can, buying opportunity, panic crash, but its china its 'different' now. first world problems
This must be a bubble... there is no way every Chinese person in the world just started buying in the last week with the intent to hold it long term lol.