Bitcoin on the Rise
Trying to assess Bitcoin during this frenetic flurry of activity in the ecurrency is like trying to get a squirmy dog to sit still long enough to read the weight on the scale. Since January the value of a Bitcoin has grown from 20 USD to today's 46 USD. This week there was a spike involume at Mt. Gox, the largest bitcoin exchange, where 170,000 Bitcoins changed hands in 24 hours and the price ranged from $49 to $33.
It is true that $7.5M of volume in a 24 hour period is not going to seem like much to traditional markets that regularly trade the equivalent of $4 Trillion per day, but this mosquito may soon get the elephant's attention.
Here are a few stories from this week for those of you that are interested in virtual currencies and Bitcoins.
- Wired on a Bitcoin Heist
- Tech Crunch on the same theft
- Forbes ruminating on a government ban on Bitcoin
- CNN on the run up to $50
- PC Advisor on the history of Bitcoin
- Forbes on the first Bitcoin denominated hedge fund in Malta
- Business Insider about how to mine Bitcoins and make money
- Poker site adds Bitcoin to payment options
- TechHive on Amazon.com and Bitcoin
- The Guardian on Bitcoin's rise to legitimacy
- Knight News on the same rise
Quite a week for a currency that was only invented 5 years ago and has not ever actually been seen (it's not printed money) by anyone.
