Bitcoin prices top $1,000

[LazyLion]

Bitcoin prices crossed $1,000, as the virtual currency continues its spectacular rise this year.

The price of one bitcoin has surged 78-fold in 2013 on hopes the experiment in digital money will eventually become a legitimate global currency. Prices hit a new peak of $1,044 in early trading Wednesday. One bitcoin was worth about $13 in January.

Bitcoin, which trades non-stop on the Mt. Gox exchange and other online markets, has been extremely volatile. It rose to what was then an all-time high of $900 earlier this month, only to fall back to $500 in the span of 28 hours.

Demand for bitcoin has been particularly strong in China, where the leading search engine, Baidu (BIDU), now accepts the currency for certain services...

Read More - http://money.cnn.com/2013/11/27/investing/bitcoin-1000/

 

[koeksGHT]

Ha, knew I should have started mining ages ago.

It's gonna crash tho

 

[Garson007]

Of course it will crash. It attracts the same type that would speculate on gold, only it's even more deflationary.

 

[alloytoo]

Bubble Bubble toil and trouble......

 

[Pooky]

So many people must be kicking themselves.


I have never even owned a bitcoin and feel angry I didn't buy some.

 

[copacetic]

So many people must be kicking themselves.

Buried somewhere under four feet of mud and rubbish, in the Docksway landfill site near Newport, Wales, in a space about the size of a football pitch is a computer hard drive worth more than £4m.

It belonged to James Howells, who threw it out when he was clearing up his desk in mid-summer and discovered the part, rescued from a defunct Dell laptop. He found it in a drawer and put it in a bin.

And then last Friday he realised that it held a digital wallet with 7,500 Bitcoins created for almost nothing in 2009 - and then worth about the same.

http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site

 

[Pooky]

http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site

Oh my soul