Wednesday, January 14, 2015


The continuing saga.  At this point given the security problems (which are not likely to go away, given the continued interest of the major monopoly currency providers to defend their respective monopolies from disruptive technology such as Bitcoin) and lack of a transaction base to out-scale counterfeiting attempts, I have no idea why anyone would continue to ultiize this currency.

That being said, the prospects for a virtual currency are great...provided they are imbedded within a sovereign (either existing or new) that can guarantee security and a critical mass of use.

Of course, this is handwaiving, but hey, dreaming is free.

Bitcoin (BTC/USD) tumbled $46.93, or 17.33%, to trade at $223.90 on Slovenia-based BitStamp during U.S. morning hours, after hitting a session low of $216.00, a level not seen since November 2013. 

Hackers stole nearly 19,000 bitcoins valued at approximately $5 million from BitStamp last week. The exchange reopened on Friday, January 9, after suspending services in wake of the theft on January 5

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