Bitcoin Market Arbitrage: The Failure of Western Banking & PayPal

Yesterday, Bloomberg reported on Bitcoin in an article entitled “Bitcoin’s Gains May Fuel Central Bank Concerns.” Today, CNN Money reports on a “scandal” at the oldest bank in Europe and Silver Vigilante earlier reported on the London Whale traders’ bets last Spring having been against JP Morgan itself.Yesterday and today, PayPal, the dominant online payment solution, has gone down and been crawling along since. With the heart of European banking system engulfed in controversy, PayPal showing signs for concern and Bitcoin only making positive headlines, is a new day rising?

7 thoughts on “Bitcoin Market Arbitrage: The Failure of Western Banking & PayPal

  1. OlympiaLogger

    “…Utah: 28 of the state’s 29 elected sheriffs signed a letter to President Obeelzebub WARNING him NOT to send federal agents to start confiscating guns.
    “MAKE NO MISTAKE,” the sheriffs wrote, “as the duly-elected sheriffs of our respective counties, we will enforce the rights guaranteed to our citizens by the Constitution. No federal official will be permitted to descend upon our constituents and take from them what the Bill of Rights – in particular Amendment II – has given them.”…”

    All Sheriffs can LAWfully organize and LAWfully deputize a posse (yeah… a REAL posse) at will.
    If every Sheriff deputizes 100 men, that’s an instant LAWful force (Called “THE POWER OF THE COUNTY”) of 2,800 who are LAWfully authorized to carry and use ANY weapon far beyond “assault rifles”.
    Given that it’s UTAH… double the muster size to a conservative 200… 5,600 CONSTITUTIONAL ‘minute’ men.
    Texas has something like 250 counties. At a LAWful muster of 100… that’s 25,000 minute men. At thrice that (remember it TEXAS) that’s a fully armed LAWful force, that TRUMPS the Feds Color of Law Corporate Policy Enforcement Hirelings, of 75,000 MINUTEMEN in an INSTANT.

    FUCK your ‘opinios’.
    FUCK “fait accompli”, whatever in your God damned sniveling hell that is.
    FUCK Piers Morgan and the Queen he rode in on… and especially,
    FUCK the Globalist Rothschild Luciferian ass lickers.

    The Constitutional Sheriff’s rolls will be at an estimated 1,500 by March or so.

    My wife’s an IRS agent, so I know bean counters love number.
    Strap this one on you anti-Liberty maggots.

    1,500 x a measly 100 per county = 150,000
    1,500 x 200 per county = 300,000
    1,500 x 300 per county = 450,000
    That doesn’t even count the currently active deputies.

    (There’s no make-believe involved here.)
    http://bit.ly/VubVDA

  2. General Rasta, SLA

    What does the SLA think of BTC?

    in addition to my stack ….. i want and will be making it a MAJOR part of my investment strategy

    if the establishment is afraid of it….. you KNOW you’re doing something good.

  3. Banking Thiefs

    “the world’s largest ONLINE currency”

    BULLCRAP!,

    41,655.00 transaction per day (www.bitcoinx.com), and most of that will be mining payments.

    It’s very hard to do ONLINE transactions with bitcoin… there is no charge back. You send someone money, and you have to trust them not to just run off with it!

  4. Canuckistan

    Bitcoin has as much chance of becoming a widely used currency as Zynga dollars or Canadian Tire money. In fact, at least with Canadian Tire money, you can buy useful stuff.

  5. General Moaners

    bitcoin has been put out there to convince you of the need to get rid of cash. anyone with a half an eye and an asshole can see this.

  6. mijj

    Bitcoin is no more than a curiosity for geeks and nerds and has no practical value .. just like the internet in the early 90s.

  7. Mirco

    Bitcoin is better than cash, because you need to kill all the node at the same time or you simply fail to kill the network.
    With cash you need to have it on you to use it, so governments can seize it and indict you.
    With BTC you just need to remember a address and have a web browser, a smartphone, a Personal Computer (even just a 30 US$ RaspberryPi).

    They can not ban cash as the soviets could not ban cash. They didn’t were able toban gold hoarding, either. They just did it illegal and more profitable.

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