Bit Coin Sell-off? or is this the new normal?

There is  "value" in (currency, gold, bitcoin) measured numerically and approximately in another currency.

The comparison of one value measure against another, reflects supply and demand.

If a bitcoin is going for 200 dollars and you hold 100 BTC in your wallet, then you have 20,000 dollars worth... of value.

As you exchange those 200BTC for dollars their value decrease slightly.

If too many others convert their BTC at the same time then the value of BTC collapses.

Nothing of  value is actually created or destroyed, rather, value has just moved out of bitcoin and back to dollars.

People wait for a prices to drop to buy, and they wait for prices to rise to sell - its that simple.


But where will people ultimately consider their "value" safely held?

Scenario One:

A counterfeitable, confiscatable, theft-prone, analog by design, constantly-devaluing-via-inflation, heavy, expensive-to-transmit, requires DAYS to transmit (see: bank transfers or bank wires), requires-expensive-banks-to-hold medium?

Or

Scenario two

An impossible to counterfeit, impossible to confiscate, nearly impossible to steal (if the correct precautions are taken), digital by design, deflationary-by-design, weightless, nearly free to transmit, nearly instant to transmit anywhere in the world where the Internet reaches, requires-no-bank-intermediaries medium?

Consider:

3rd world users
criminal users
people with poor credit ratings
cash-free society users
cellphone/ mobile users

BITCOIN wins.

https://mtgox.com/press_release_20130404.html

What is the legacy of our past and current prime ministers?

Legacy of our Prime Ministers

 Lester Pearson:
 National medicare Program Canada and Quebec Pension Plans
Interest Free Student Loans
Unemployment Insurance
Canadian Flag
Royal Commissions on the Status of Women
 Refused to take Canada to Vietnam War ... while in a minority government situation propped up by the NDP

 Pierre Trudeau
Family allowance:was $6 a month- increased it to $30 a month.
 Patriated the Constitution
 Established The Charter of Rights (equal rights)
Charter Challenges Program: to provide financial assistance to the poor, the disabled, women's groups, to fight charter challenges in court
Law Reform Commission: Mandate to oversee govt legislation
Equalization Payments: funds to poorer provinces
Access to Information Act
Removed federal sales taxes on children's clothing and shoes
 Trudeau alienated the west. His actions sped up the formation of the BQ. Trudeau's brilliant arrogance often offended.
 In 10 years increased the deficit from 667 m, to 10.9 billion in 1978. From 68 to 78 Canada's economy was growing every year.
 Trudeau established Petro Canada
 Trudeau invoked the war measures act during peace time sending soldiers into the streets. The alienation of the West led to the Reform party and rebirth of the Conservatives.
Trudeau decriminalized gay sex, legalized contraception, abortion, toughened gun control and drunk driving laws."The state has no place in the bedrooms of the nation"  

Mulroney:
 Closed the Charter Challenges program and the Law Reform Commission.
 introduced GST
appointed extra senators in order to ram through patent protection laws
introduced Free Trade agreement Took Canada to 1st Gulf War  
Known to have accepted CASH in brown envelops from Hans Schreiber - kept in his "safe" as unreported consulting fees until a "Bargain" with the CRA. (oh boy!)

Under Chretien
Brought Canada into surplus after Mulroney's deficits
Kept Canada out of Iraq
Stopped bank mergers Chretien downloaded federal costs on the provinces.
 Chretien said he would get rid of GST, then reneged.
 established the gun registry
Used corrupt Adscam to fight quebec separatism

Under Martin:
 10 year health care @6% to expire 2014
Kelowna Accord
National Daycare Program
known as Mr. Dithers, performed far better in Finance

 Under Harper..
Closed the Charter Challenges program and the Law Reform Commission...again
within a year the existing surplus was spent
Muzzles media, scientists, cabinet, the military, diplomats Delays and black outs Access to Information requests
Closed Status of Women offices Cut budgets for CFIA,
lets corporations do their 'own' inspections
Shut down coastguard' eliminated Long census forms
suspected involvement in Robocalls Healthcare tied to GDP @3% 2015
Obscenely overspent on G8 conference
Two prorogations of parliament for political gain
Added 30 seats to Commons
excessive use of omnibus bills -
gutted environment protection laws, and navigable waters protection act
Harper, starts with surplus, then back to deficits: 55 to 33 to 26 to 25, and hopefully 18.7 in 2013. Harper advocated then: smaller cabinets, didn't like majority govt now has biggest cabinet in Cdn history
canceled Kelowna Accord and National Daycare Program
MORE TO COME>>>

Manchester Citizen explains why people will revolt there - according to an historic imperative

...my evening in Manchester demonstrated to me that many in my audience believe that violent social unrest and street violence aimed at the elites is only just a stone's throw away. Next time, it won't be the hit and run tactics used in Tottenham and copied elsewhere in the country, with gangs of young people just smashing shop windows and stealing designer accessories. Next time, the rioters will be standing their ground, and trading blows with the police, with everything to hand at their disposal. There is a real, tangible visceral hatred of the police in Manchester among the poor and the underclass, and some of the observations made to me about this dislike are very scaring. Cameron and Osborne have got to demonstrate that there is only one law for all the people, not just the poor and working class, all the while their friends in the elites get away scot free, but that is what is happening. Their bankster friends have already effectively stolen our children's future, and there is a sizeable number of young and dispossessed people who are just waiting for the day to go and steal some of it back. Peters' Fields are quiet today, but it will not take too much to see them filled with rioters again, fighting for much the same thing as their forebears fought for, 200 odd years ago. That was the right to be electorally enfranchised - to be treated as equal citizens and guaranteed fairness in their social treatment, a fairness which is being swiftly eroded, by the way in which the elites are being allowed to commit financial crimes with impunity. I predict these events because for many working class people, they have nothing to lose, and a man who has nothing to lose, has everything to gain from his actions. The full article can be seen here: rowans-blog.blogspot.co.uk/2013/04/why-we-face-bloody-revolution-on.html