Bloomberg does Bitcoin with Unicorns, Reddit calls it Fantastic

update: aaaaand now also on zerohedge   The cover story, or the story behind the cover, for the cover story But actually magic purple (or pink) unicorns were on this site first (to the right), but I guess Bloomberg's unicorn isn't purple (or pink) (its the lights) and not magic. The rest of the article doesn't live up to the cover. But ah well. The last line pretty much nails it I guess “I don’t fully understand how Bitcoin works,” he says. “But then, I don’t get Miley…
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Bloomberg asks: Are All Traders Useless Morons? Dragonfly thinks 100% is good. Wait what about bitcoin’s 5000%? or 10000% if you “timed it right”

Bloomberg asks: Are All Traders Useless Morons? Dragonfly thinks 100% is good. Wait what about bitcoin's 5000%? or 10000% if you "timed it right" The excerpt from dragonfly If you had picked the best stock to buy every day you could have turned $1,000 into $264 billion by mid December. That is a billion percent return. Did you even get a 1 billion percent return? How about 1 million percent? 1000%? 100%? If you did not hit a 100% return then you did not get even 4/10 millionths…
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Bloomberg’s Matt Levine sparks off discussion on fees

The original article: Response : Response : Comment on teh bloombergz mmanvil • 4 days ago − Unless you read carefully, many readers will be mislead by the chart that shows high "transaction costs" associated with Bitcoin, but in simple terms, (and what the article tries to explain but does so in a very roundabout and misleading way) is that INSTEAD of transaction fees, Bitcoin miners are rewarded Bitcoins! So, in reality buyer and seller of Bitcoin are not paying any (or hardly any) transaction fees. The "cost"…
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Taobao bans bitcoins, prices take an arrow to the knee

(Update: bitcoin still alive on alibaba international?) It's all over everywhere anyway. But it's pretty intriguing, as in the past when Jack Ma was at Alibaba (and thus taobao), there would be certain government guidelines. With the new CEO at alibaba, is this new directives from China's party or taobao just being careful in treading on ice? (In terms of price, it went from over $1000 to back at 7xx before rebounding for now) The thing is, one alternative to purchasing bitcoins is of course to mine them.…
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Overstock and Bitcoins

It's been out for a while that Overstock will be taking bitcoins sometime in the second this year. We have an OP-ED from the Overstock CEO at CNBC explaining his reasons Aside from his stated reasons, note that for the same reasons Zynga finds the lack (relative) of fees appealing, the same goes too for Overstock and also for Amazon. Amazon goes on ultra low margins to push the sales out, and cutting off 2% on its near 0 razor thin margin is self explanatory. I also notice…
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Are you a Bitcoin Trader? Wall Street Wants You! (or actually a hedge fund in san fran)

Are you a Bitcoin Trader? Wall Street wants you to join their ranks! Or rather, a San Fran Hedge Fund has posted a listing looking for a junior Bitcoin Trader Maybe we will have a Wolf on Bit Street movie in the works soon (A bitcoin center opened up in wall street) Bloomberg has taken that to mean that there is a senior trader! Here is the Bloomberg Transcript (emphasis added in bold mine) The first thing i thought when i thought was that they won a junior…
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Bitcoin Roller Coaster as Zerohedge Gray Sticky: Bitcoin Crashes, Loses Half Of Its Value In Two Days

Plenty of bitcoin on zerohedge these days: Zerohedge: Bitcoin Crashes, Loses Half Of Its Value In Two Days It was inevitable that a few short days after Wall Street lovingly embraced Bitcoin as their own, with analysts from Bank of America, Citigroup and others, not to mention the clueless momentum-chasing, peanut gallery vocally flip-flopping on the "currency" after hating it at $200 only to love it at $1200 that would promptly crash. And crash it did: overnight, following previously reported news that China's Baidu would follow the PBOC…
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From TechinAsia: Despite panic, China’s regulation of Bitcoin leaves room for optimism by Jack Wang

Tech in Asia is a popular online tech news site started in Singapore! From Despite panic, China’s regulation of Bitcoin leaves room for optimism Jack Wang is a cofounder of Dearcoin, a Bitcoin startup based in Beijing. He can be reached at or @jw2856 on WeChat. On December 5, 2013, the People’s Bank of China, Ministry of Information Industry, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission jointly issued a notice warning citizens about the risks of Bitcoin. The immediate response was a steep drop in…
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Bitcoin and Litecoin Market Watch Today! BTC-mtgox breaks 1000 USD Bloomberg Telegraph, Litecoin high 29.7 USD, on zerohedge, Brit throws away £4m Bitcoin Harddrive

First the snaps We can see new highs across categories. Bitcoin takes out the 1000 usd mark in mtgox beating its previous high of 900 USD. (China's high is about 7k yuan). LTC has also broken a new high at USD, as well as its china okcoin high at 170 compared to 154 yuan. This push looks to be mainly from the west, as you don't see the usual China spread far above the west side prices. 1000 USD breaker on mainstream news Bloomberg The price of Bitcoin…
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Litecoin: LLnSyo8rqbJng11b3whVUXSr6nWMtmT1zU
Bitcoin: 158MikZVM8yQviLcvxu1aahTysSxDUaePr