Originally Posted by baja
This is being done by the banksters, They do not want BitCoin to survive and will do what ever they can to be rid of it.
All this will do is stop speculators other than the banks so in the long run the Bit Coin will survive and thrive. Let it bottom out and buy all you can
Problem is, a currency needs a central control system, which of course is the opposite of the Bitcoin philosophy. Without a linkage to world currencies or Gold, how will it stabilize and hold realistic value?
Imagine the dollar fluctuating in the same manner; you'd go broke buying just basics. Gold is a much better play than an artificial 'digital' currency that is played like a speculative commodity. Its very methodology makes it inherently unstable and wide open to hackers and manipulators.
It needs to get back to it's opening values, stabilize and link itself to Gold.... ..which would devastate most Bitcoin investors who overpaid for it. I see a 'split' as the most palatable play, which would also substantially increase the number of Bitcoins in circulation........which would help make it more viable, and soften the blow for early adopters.