Bitcoin has had quite a ride this year. In late November, the virtual currency was valued at around $675. When you compare that to its price of about a year ago, you’ll find that the currency has risen about 50 times its year-ago value. Does this make sense? I don’t think so. Though I now think that the time for virtual currencies has come, I do not think that Bitcoin would be an ideal alternative at this time. It’s just too volatile. I’m also not a believer in investing and speculating in Bitcoin.
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Bitcoin's Fatal Flaw
Posted by: Theodore F. di Stefano December 5, 2013 05:00 AMBitcoin has had quite a ride this year. In late November, the virtual currency was valued at around $675. When you compare that to its price of about a year ago, you’ll find that the currency has risen about 50 times its year-ago value. Does this make sense? I don’t think so. Though I now think that the time for virtual currencies has come, I do not think that Bitcoin would be an ideal alternative at this time. It’s just too volatile. I’m also not a believer in investing and speculating in Bitcoin.