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April 11th, 2013 
FAKE NEWS for the Zionist agenda 
The recent crash of the decentralized currency Bitcoin in which it lost 60 percent of its value has not yet sent users running. Despite the collapse, experts claim Bitcoin will go mainstream in three months due to the financial crisis in Cyprus.
Bitcoin lost more than $160 in value – down from its record high
on Wednesday of $266 per Bitcoin. Since then, the currency has
recovered slightly, with Bitcoins now trading at around $173.
Just before the crash, the anonymous Reddit user
‘Bitcoinbillionaire’ gave away almost $14,000 in Bitcoins to random
Reddit users over the day, Business Insider reported.
Bitcoinbillionaire made the donations through a Reddit feature that
allows users to ‘tip’ each other with Bitcoins online.
So far, no connection has been established between the incident
and the Bitcoin crash.
This is not the first time the digital currency has crashed: in
August 2011, it fell to a low of $7 after hitting a high of $32 two
months earlier.
The currency has shown what could be seen as either tremendous
growth potential or vulnerability to speculation – just two months
ago, each Bitcoin was worth $20.
In March 2013, Bloomberg valued the entire “alternative world
currency” at over $600 million; it is now estimating the total
value of Bitcoin at over $2 billion. Currently, there are about 11
million Bitcoins in circulation, with 25 new Bitcoins produced
every 10 minutes and traded through online exchanges such as
Mt.Gox.
The future of Bitcoin
Many analysts are now speculating that Bitcoin could soon become
an accepted currency around the world.
Bitcoin developer Michael Parsons predicts that it will be a
while before the digital currency is used on a wide scale. “I
don’t think it will be widely used for a while yet until the
interface becomes user-friendly. People think they have to
understand it to use it,” Parsons told RT.
The safety of online transactions with Bitcoin has been called
into question by the numerous hacking attacks on Mt.Gox and
Instawallet, a popular service used for storing Bitcoins.
Still, other experts are confident that Bitcoin will soon enjoy
mainstream use. Entrepreneur William Mook told RT he believes that
Bitcoin will become widely used in just 90 days: “Bitcoins are
about $2.8 billion right now, and we need to have $8 billion in
circulation before retail will become interested in this. So we are
about 90 days away from that.”
Mook also argues that the digital currency is safer to use than
real money, since it is not “altered by politics as the people
in Cyprus found out.”
“Numerical properties control Bitcoin. We are where the
Internet was before the web browser. The e-wallet is a test system,
and there are lots of programmers working on improving e-wallets,
and within the next 30 to 60 days we will see lots of interesting
services come out,” Mook explained.
Bitcoin user Aaron Koenig agrees: “The EU did a great PR job
for Bitcoins when they seized bank accounts in Cyprus. Since then,
people have gone Bitcoin crazy. Bitcoins are secure. No one can
seize them, no one can freeze an account.”
A growing number of retailers have begun to accept Bitcoins as
payment. Bitcoins can now be used to buy a wide array of goods,
including cars, consumer goods, houses, drugs and hard
currency.
German Bitcoin bar owner Joerg Platzer believes that the digital
currency is a workable alternative to using the flawed and
centralized global financial system.
“Every day you decide not to use a free and decentralized
currency like Bitcoin, you decide to support the existing financial
system with all its flaws,” Platzer told RT. “There’s no
organization, no institution that can control the financial system
of Bitcoin. No banks, no credit card corporation, which means no
fees. No one stop you from sending money from A to B.”
The inventor – or inventors – of Bitcoin remains a mystery. The
currency was introduced in 2009 after a research paper was released
outlining the alternative system, signed by someone with the
pseudonym ‘Satoshi Nakamoto.’
Source Article from http://rt.com/news/bitcoin-currency-market-drop-671/
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