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Author Topic: arstechnica.com: Porn, gambling, and malware: Bitcoin as the 'Net's Wild West  (Read 8412 times)

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Porn, gambling, and malware: Bitcoin as the 'Net's Wild West
A year after the bubble popped, we check on the cryptocurrency's progress.
(by Timothy B. Lee - June 8 2012, 10:30am +300)



On June 8, 2011, the same day Ars Technica ran its first story about Bitcoin, the peer-to-peer digital currency's value jumped to an all-time high of $32. Bitcoins had been worth less than $1 just two months earlier, and that day proved to be the peak of the bubble. The value of a Bitcoin fell below $20 within a week, and by November it had fallen to $2.

But since it hit bottom late last year, the cryptocurrency has defied skeptics (including me) who predicted it would prove to be a passing fad. The currency regained some of its lost value, and the price has become much more stable in recent months. In the last three months, the value of a Bitcoin fluctuated in a narrow band from $4.50 to $5.50. As this is being written, the currency has just hit a three-month high of $5.60.

Read more on: http://arstechnica.com/business/2012/06/porn-gambling-and-malware-bitcoin-as-the-nets-wild-west/
"Your keys, your Bitcoin. Not your keys, not your Bitcoin." (Andreas Antonopoulos)
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