Bitcoin is too cheap for its own good?
Posted in the Banking Forum
#1 Dec 10, 2013
All the baloney: Who issued this phony currency??? Let me call it the Bit-Con - Read this: Last week, when Bitcoinís price hit a new high of $1,240, Bloomberg News compared it to a massive bubble. Then over the weekend, on the news that Chinaís central banks would be banning Bitcoin, the price fell nearly 50 percent down to $680 apiece. It was the latest in a roller-coaster ride of Bitcoin booms and busts. But the truth is that the wild swings in price Bitcoin has been experiencing are a natural reaction to the massive global interest in a pool of money that is relatively tiny compared to its government-backed peers. And itís preventing Bitcoin from achieving its real purpose as an innovative new form of currency.
An innovative new form of currency??? Issue more to Citibank!!
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