Cyberthieves loot $65m worth of bitcoins in Hong Kong

This is exactly why you don’t want a cashless society. It’s not only hackers you have to worry about, but corrupt governments who can wipe away your entire life savings on command if you don’t fall in line with the regime.

 

HONG KONG — A major bitcoin exchange headquartered here reported Wednesday that roughly $65 million worth of the virtual currency had been stolen from client accounts by hackers.

After Bitfinex made the announcement, the bitcoin exchange rate against the dollar plunged more than 20% at one point.

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Russia Buy Gold Bullion For “Principles Of Diversification” – Central Bank Governor

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– Russia “bought gold” for “diversification” – Russian Central Governor Nabiullina
– Russian central bank prefers gold bullion to euros or dollars
–  Russia points out that other countries have a  “bigger share of gold in their reserves”
– “Can’t imagine a situation where bitcoins would be considered a reserve currency”
– On bitcoin – sees “mobility”, “expediency” and “low cost” but may regulate

The Russian Central Bank Governor told CNBC this morning that Russia has bought and will continue to buy gold bullion for “principles of diversification.”

In an interview with Geoff Cutmore of CNBC, Elvira Nabiullina was asked Continue reading