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Bitcoin Value put to the Test

The value of the famous digital currency, Bitcoin has been put to the test. Evaluating its basic worth is a task alright. Yet is is not exactly what many negative personalities would term as “evil”. That would be too simplistic a judgment to make about Bitcoin.

Jan 1 2014, 12:51am CST | by

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Bitcoin Value put to the Test
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Bitcoin Value put to the Test

The real value of Bitcoin may be inferred from some of the effects its presence has in an online and offline environment. There are certain quarters that have labeled it as an evil phenomenon. However, like there is something good in even the most evil entity, the verdict on Bitcoin is not an easy one to deliver. Bitcoin is not only a digital currency but a form of equity and a social hub like Facebook. 

You may employ Bitcoin as legal tender in place of dollars and other currencies of the globe. As a source of equity it generates its rates via the input of all those dealing in Bitcoins to reach higher levels. As for its network benefits, they are legendary. 

The actual value of Bitcoin depends upon its usage by the people who come in contact with it each and every day. Were they to abandon its pursuit, the value would go down to nil. The network acts as a bulwark against any breakdown in the criteria by which the crypto-currency is gauged. And while generally its value rises with time, there are price swings from time to time. 

A good example is the sudden skyrocketing of Bitcoin from $208 to $1049 between the months of November and December. There are challenges Bitcoin faces as it grows with the passage of time. But it is not like everyone owning the cyberspace medium of exchange is about to lose everything in a gamble of capitalism. That would be an unrealistic and pessimistic prognosis. 

Source: Techcrunch

 

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Update: 11

Abbott campaign accepting Bitcoin contributions

Source: Fox 29 San Antonio

Texas Attorney General Greg Abbott And GOP Gubernatorial Candidate Votes In States Primary
AUSTIN, Texas (AP) - Texas Attorney General Greg Abbott's campaign for governor says it will accept contributions made with the bitcoin virtual currency.   Abbott on Thursday called bitcoins, a decentralized digital currency, symbolic of free-market ...
Source: Fox 29 San Antonio   Full article at: Fox 29 San Antonio 8 minutes ago
 


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Update: 10

Bitcoin Drifts Lower in a Slow Trading Session

Source: Forex News

Hu Xiaolian And John Cunliffe Exchange Signed Memorandum Of Understanding On Renminbi
Want to Trade Bitcoin? ForexNews RecommmendsClick Here To Learn More. Bitcoin prices drifted lower for a second day today. On BTC-E, the fledgling cryptocurrency opened at $486. From here, a mini-rally to $496.62 ensued. Prices were unable to sustain the upward momentum however and in a few hours a new multiday low of $456.80 was reached. One bitcoin is currently trading at $470.70 on the exchange. No major bitcoin related news w ...
Source: Forex News   Full article at: Forex News 1 hour ago
 

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Update: 9

Investors aim to 'save' bitcoin exchange Mt. Gox

Source: SC Magazine

Alibaba To Kick Off IPO In U.S.
After suffering a massive bitcoin theft, the exchange faces liquidation of its assets in Japan ...
Source: SC Magazine   Full article at: SC Magazine 1 hour ago
 

Update: 7

Investors attempt to save MtGox bitcoin exchange

Source: The Guardian Technology

Alibaba To Kick Off IPO In U.S.
MtGox is under threat of liquidation after it fell victim to an apparent digital heist in February in which $480m disappeared Continue reading ...
Source: The Guardian Technology   Full article at: The Guardian Technology 3 hours ago
 

Update: 6

Why Does Ron Paul Think Bitcoin Does Not Fit The Definition Of Money?

Source: Forbes

Ron Paul Campaigns In Nevada
Why does Ron Paul think Bitcoin does not fit the definition of money? This question was originally answered o ...
Source: Forbes   Full article at: Forbes 5 hours ago
 

Update: 5

Researchers uncover likely creator of Bitcoin

Source: PhysOrg.com

M
The primary author of the celebrated Bitcoin paper, and therefore probable creator of Bitcoin, is most likely Nick Szabo, a blogger and former George Washington University law professor, according to students and researchers at Aston University's Centre fo ...
Source: PhysOrg.com   Full article at: PhysOrg.com 9 hours ago
 

Update: 4

Japan gets first bitcoin ATM, two more on order

Source: PC World

Representatives Of A Bitcoin Kiosk Company Demonstrate The Currency Product On Capitol Hill
Formula One racing and cryptocurrency have nearly nothing in common—except Suzuka. The home of the Japanese Grand Prix will soon debut Japan’s first bitcoin ATM.Local importer Raimu has brought a Robocoin ATM into the country from Las Vegas-based Robocoin Technologies. It arrived at the company’s warehouse Thursday.It plans to show it off at an unveiling in Suzuka, a city of some 200,000 near Kyoto and Osaka, before shipping it to a buyer whose ...
Source: PC World  Full article at: PC World 12 hours ago
 

Update: 3

Japan gets first bitcoin ATM, two more on order

Source: NetworkWorld

Alibaba To Kick Off IPO In U.S.
Formula One racing and cryptocurrency have nearly nothing in common -- except Suzuka. The home of the Japanese Grand Prix will soon debut Japan's first bitcoin ...
Source: NetworkWorld   Full article at: NetworkWorld 12 hours ago
 

Update: 2

Bitcoin Boulevard US: Merchants on Lee Road in Cleveland Heights expand acceptance of digtial currency

Source: Crains Cleveland Business

Alibaba To Kick Off IPO In U.S.
Nine stores there have agreed to start accepting bitcoin, a form of digital money that isn't controlled by a central government, with the goal of creating a shopping destination for area enthu ...
Source: Crains Cleveland Business   Full article at: Crains Cleveland Business 12 hours ago
 

Update: 1

Investors try last-minute Mt. Gox revival as liquidation looms

Source: PC World

Alibaba To Kick Off IPO In U.S.
The clock may be running out on Mt. Gox, but a consortium of investors still wants to relaunch the failed Bitcoin exchange.A website called SaveGox.com has emerged calling for a halt of the liquidation of Japan-based Mt. Gox, which the Tokyo District Court is expected to authorize.“Liquidation is a last resort when all other avenues fail, including rehabilitation. No attempt has yet been made to save Mt. Gox,” the website says.The consortium of U.S. investors calls upon Mt. Gox creditors t ...
Source: PC World  Full article at: PC World 13 hours ago
 

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest technology trends.

 

 

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