Posted on 12/30/2014 6:54:17 PM PST by Mad Dawgg
Plummeting downward by approximately 56 percent over the last 12 months, Bitcoin was recently crowned as the worst performing currency of 2014 according to Bloomberg. During early December 2013, the digital cryptocurrency was trading around $1140 and started falling to around the $850 range during early January 2014. As of this month, Bitcoin is being traded at the $320 level. However, this value is still higher than the value of the cryptocurrency prior to November 2013. Other poorly performing currencies of 2014 include the Ukraine’s hryvnia and Russia’s ruble.
(Excerpt) Read more at foxnews.com ...
The feral government can’t devalue Bitcoin like they are going to do with the dollar one of these days.
Gold dropped $1900 to $1200 in two years. Stay away from gold & silver to.
Remember Mt. Gaack.
Well, hooray for virtual, nonexistent nerdmoney. Have fun with that.
Must have been the Bitcoin Bowl.
I thought it was Mt. “Ohshitwheremybitcoinsgo”
Hey Tsonic,
Time to pay up on that wager you made on 12/29/13:
http://www.freerepublic.com/focus/f-news/3106204/posts
“Care to make a wager on this assertion? I say Bitcoin doubles in that time frame. Mt. Gox always quotes the highest price @ $ 743.10 right now! That means $1486.20 June 1, 2014.
You wanna give it a shot ?”
Bitcoin is a Tsunami, there is no stopping it now!
"Ah! My good man! I'd ... ahhhh ... I'd like to help you, but ... ahhhh ... all my money is tied up in currency." -- WC Fields
"Worst performing" is misleading here due to the novelty, speculation and media bubble perfect storm that occurred in late 2013. You can't compare it to national currencies.
Is it a currency you should store long term? No. Is it useful as an intermediate currency for digital transactions where privacy is needed? Absolutely
Ping
Then people who trusted Bitcoins sold them and traded for dollars or other fiat currency because....?
$1,000 worth of gold purchased in 2000 iss worth $3,600 today. Just sayin’. It’s not a short term investment but long term insurance.
Obviously, angry white males have something to do with this...
I don’t think you’ll get an answer.
He’s most likely in a desperate frenzy covering “call” options on crude oil.
I agree. That’s why a down leg won’t scare me out of my gold. Same as Bitcoin.
As long as it is secure and somewhat anonymous, people will continue to use it. There are really no other digital options these days. Even cash is being highly scrutinized now
What if the grid goes down and stays down for a while? Like natural disasters, terrorism, widespread insurrection, nuclear war, zombie epidemic, alien invasion, pick your favorite catastrophe. What good are your bitcoins then? They’d be more useless than paper money, which would at least be valuable as toilet paper in any one of the aforementioned scenarios.
So they "lost confidence" in Bitcoin's value and sold?
Gold and silver have a 5,000 yr history of value. If the Internet or electronic banking system go kaflooie good luck buying a gallon of gas with your bitcoin.
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