China Halts Bank Cash Transfers

Re:China Halts Bank Cash Transfers by Alex3917 on Sunday January 26, 2014 @09:22PM (#7128310)

This is why I'm starting to put money into Crypto. If there is some exploit and the whole thing drops to zero overnight then at least it affects everyone more or less equally, which seems better than Obama and his Goldman Sachs buddies deciding how much our dollars are worth on any given day.

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Re:China Halts Bank Cash Transfers by panarky on Sunday January 26, 2014 @09:46PM (#7128424)

It's fun to talk about the value of the dollar being manipulated by dark forces, and to hear people talk you'd think the dollar must have lost a lot of value recently.

Not really.

In the last year, the US dollar actually increased in value 10% against the Canadian dollar, increased 12% against the Japanese yen, and increased 20% against the Australian dollar. It decreased 1% against the Euro, decreased 3% against the Swiss franc, and decreased 4% against the pound.

In gold terms, the US dollar is 39% more valuable today than it was a year ago.

I also put some money into crypto-currencies, though not because I fear the imminent collapse of the dollar. The dollar's value has been pretty stable even through the financial collapse.

Dollars seem perfectly fine for transactions, though no currency is suitable as a store value for decades or generations.

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Re:China Halts Bank Cash Transfers by retrogradeorbit on Monday January 27, 2014 @02:09AM (#7129180)

It's being manipulated, not by dark forces, but by sovereign nations in the open market.

https://en.wikipedia.org/wiki/Currency_War_of_2009%E2%80%932...

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Re:China Halts Bank Cash Transfers by kolev on Monday January 27, 2014 @02:23AM (#7129213)

You really believe Bitcoin will survive decades?

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Re:China Halts Bank Cash Transfers by panarky on Monday January 27, 2014 @02:32AM (#7129235)

I don't think any currency is a good store of wealth for decades or generations.

Bitcoin doesn't have enough of a track record to make predictions about how long it will last.

I bought Bitcoin and other crypto-currencies not as a long-term store of wealth, but for their other valuable qualities.

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Re:China Halts Bank Cash Transfers by Alex3917 on Sunday January 26, 2014 @10:31PM (#7128602)

The reason the dollar is increasing in value is because the stock market is increasing in value, and the reason the stock market is increasing in value is because it was previously decimated by a group of wall street insiders working together with government regulators to crash the economy.

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Re:China Halts Bank Cash Transfers by TDL on Sunday January 26, 2014 @10:48PM (#7128669)

Yes, because what the financial elite want the most is to crash economy. It's not like they have all their wealth tied up in financial assets that rely on a healthy economy to remain valuable...

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