Keeping Up with Bitcoin
As of August 17th, 2012 at 11:35 PM, Bitcoin’s latest price is listed at $12.47 according to Mt.Gox, the world’s largest Bitcoin exchange. As you might gather from the lifetime chart (below) of Bitcoin’s closing prices, the digital currency has had its share of roller coaster ups-and-downs, the latest trend being an upswing from the five dollar range that began in June – an increase of around 150%. Just today, it’s recorded high and low price is $15.40 and $10.60 respectively. Roller coaster indeed.
The rebound comes after a period of shake-ups Bitcoin went through in 2011 – security breaches and cyber-theft that signaled to early adopters and speculators alike that Bitcoin still had some kinks to work out if it was going to be a widely accepted alternative to the dollar and other fiat currencies. Is stability on the horizon? Maybe another propulsion toward $30? Or are more chinks hiding in the armor? At any rate, stay tuned.
by Jordan Inman
Bitcoin Lifetime | bitcoincharts.com
Bitcoin is an experimental digital currency that enables instant payments to anyone, anywhere in the world using peer-to-peer technology to operate with no central authority.
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I’ve been deeply investing in Bitcoin for three years. Bitcoin is designed to function like gold for the Internet, and I believe that is exactly what has been achieved, or at least something very close. Some wild swings, particularly in the early years, are to be expected. Bear in mind, Bitcoin (like gold) is no one else’s debt. There are no counterparties, nor is there a central institution who mission is to “manage” it.