The last time we wrote about Bitcoin, in October, the currency's future looked grim. A series of security incidents had created an avalanche of bad press, which in turn undermined public confidence in the currency. Its value fell by more than 90 percent against the dollar. We thought Bitcoin's value would continue to collapse, but so far that hasn't happened. Instead, after hitting a low of $2, it rose back above $3 in early December, and on Monday it rose above $4 for the first time in two months. It's impossible to predict where the currency will go next, but at a minimum it looks like the currency will still be around in 2012.
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I'm not at all against
Tom Foppiano 1 year 21 weeks 3 days 16 hours ago
I'm not at all against bitcoin. I like the idea. But calling $4 a "comeback" seems like a stretch to me. Wasn't it worth about $25-$30 not that long ago?
If the dollar fell by 90%, then jumped up so that it only fell 75%, would you call that a comeback?
I see your point and I think
freeman 1 year 21 weeks 3 days 8 hours ago
I see your point and I think that the "comeback" meme is a little strange. So far, bitcoins have performed well over the last 1.5 years in comparison to gold. http://www.bitcoinbullbear.com/index.html I would be thrilled if they could keep a steady ratio with gold for the long term.