Posted on 03/23/2013 6:34:02 AM PDT by GiovannaNicoletta
With all its other problems, the euro is also getting unexpected and underground competition from a new virtual currency.
Its called the bitcoin, and in case you havent heard, it is the most ambitious (and to-date, successful) attempt to create a new online currency, generated by the calculations of thousands of computers. Some say it amounts to a kind of anarchic money.
This week, as the euro crisis has reached Cyprus, the bitcoin (BTC) marked a record high on the largest online exchange, bitcoin.de. The exchange rate has approached 50 euros, more than doubling the value of the virtual currency within four weeks.
(Excerpt) Read more at stratrisks.com ...
I think I’ll set up all my computers to “mine” bitcoins ... LOL ...
Heck! I could just go out and pan for gold, too ... eh? It sounds about the same to me.
Bitcoin value can go up and down dramatically, depending on real-world circumstances. It has risen dramatically (in value) since “Cyprus”.
Bitcoin Value Hits $70 and Keeps Climbing; Cyprus Bailout Connection Speculated
http://siliconangle.com/blog/2013/03/21/bitcoin-value-hits-70-and-keeps-climbing-cyprus-bailout-connection-speculated/
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.