Bitcoin Price Takes a Fall to Hit a Low of $300

Bitcoin Price Takes a Fall to Hit a Low of $300

The Bitstamp Price Index took a steep drop to hit a monthly low of $300.30, a figure struck near 03:00 UTC, November 11th. Yesterday, the price of bitcoin opened at $377.90 UTC to see a steady decline through the day before taking a steep fall at 20:00 UTC, from $352.40 to $332.07 at 22:00 UTC. The Bitstamp Price Index started 11/11 at $336.73 before dropping to a monthly low three hours later at $300.30. At the time of publishing, the Bitstamp Price Index was trading at $314.33. The price decline comes in the aftermath of the final Silk Road auction that saw the sale 44,341 BTC. Although....


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Quotes

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.

Satoshi Nakamoto, Bitcoin Developer