As Chinese and Dutch authorities forbade their banks from accepting Bitcoins later final week, the cryptocurrency tumbled in value (Image: Information Week)
It’s almost come to symbolize the war between prepared society as well as the maverick movement away about them late last week from it, but whatever your views on Bitcoins the world’s most popular cryptocurrency and much in the news of late the news was not good. A stern warning from the central Chinese bank not to deal with the currency caused a tumble that, as of press time, had Bitcoins poised between $731 and $737 in US dollars after several weeks of skyrocketing value hikes that took the digital money from about $60 per Bitcoin last March to more than $1,200 in late November.
The caution arrived after the bank noted that the cryptocurrency does not have any ‘real meaning’, does not have any backing that is legal shouldn’t be handled by the Asian country’s banking institutions at all. Also noted and most likely more during the base of the banking that is chinese’s disdain for the money had been the present high-profile connection between Bitcoins and money laundering and illegal items procurement, specially on web sites like Silk Road, which ended up being recently seized and shut down by the FBI, just to reopen a month later ‘under new management.’
Prior to the publicly issued warning, Bitcoins were gaining in appeal with the C […]