It is the speculation thread, but I suspect China will follow Stamp and Gox in a massive selloff.  They have more weak hands than anybody at the moment, because they represent the most new money.  Should the bearish signals prove to be true of course.

Bitcoin would never get to such a price point (and the electrical power would get more expensive).

I would kill for 22 BTC...I have 1/100 of that...

i don't have much of an opinion of u.s. citizens really. but the consensus about them is well established. i also don't buy the capitalist-socialist dichotomy... as it's commonly illustrated.

i think the perceived arrogance of people from the US is much due to US exceptionalism, yes -- i was making that point because that is what non-US folks are exposed to. but i am talking about the dictionary definition of "arrogance".

sure, there is great wealth inequality in the u.s. that doesn't mean there isn't far greater wealth inequality elsewhere, such as in South America. http://upload.wikimedia.org/wikipedia/commons/3/32/Gini_Coefficient_World_CIA_Report_2009.svg

it also doesn't speak to the effect of historic exploitation of the southern hemisphere by the north. over 53% of world net worth (based on PPP) is concentrated in North America and Europe, which has less then 15% of world population. when we talk about wealth inequality, surely comparing that of the u.s. with that of that of bolivia is sort of ridiculous, right? are we talking about being entitled to basic human necessities, perhaps education? or are we talking about being entitled to a basic minimum income? or big screen tvs? http://en.wikipedia.org/wiki/Distribution_of_wealth

in the u.s., when people complain about entitlements, i hear complaints about people buying big screen tvs with welfare checks. (i take that with grain of salt) surely, you don't think that these are the sort of entitlements that Brazilians seek? that they are arrogant for fighting for? especially given the nature of wealth inequality?

am i arrogant for fighting for a better education system for my children? i must feel so self-important? 

it's one thing if the state does not exists. it's another thing if the state will exists for the forseeable future, and exploits, and allows exploitation. in the latter case, i think it is only reasonable for people to try to reform the state, to legally prescribe what had once been unwritten -- their ownership, their rights, their dignity. even if i do not support reformism. i still do not see this as arrogance. someone who is arrogant by definition does not see themselves as equal to others.

This loan thing is depending what is the situation. It's dumb to say that investing loaned money is absolutely wrong or that it's right. Many people spend rest of their lives in debt hell and investing some of that to bitcoin might be the way to get rid of that debt. There's risk but you have to calculate those risks based on your situation.

by bad... do you mean good?  I guess it all depends on your outlook.

true reason for the drop - http://www.nasdaq.com/article/bitcoin-drops-3-as-emerging-market-concerns-ease-cm321692

ppl really should stop getting exited about something like this really. So much noobs.