The Rise of Bitcoin

Over the past six months bit coins and lite coins have made quite a splash worldwide. As a seemingly new found currency exploding from a worth of .10 cents a coin to a value of $900 a piece, ans still steadily rising. Being that bit coin is a virtual currency, and can be transferred and acquired across the globe in a matter of seconds. People from every aspect of life are eyeing it’s potential, from the entrepreneur looking to make a quick buck to the FTC racking their brains no how the hell they can regulate the currency.

Due to the nature of virtual currencies, their ups and downs are able to balloon and crash quite easily. Thus the reason large investment firms are  doing anything they can to get their hands on a measurable percentage of the current market; which would inadvertently allow them to have some control over the rise and fall for their own benefit.

Over the last month 40 days the both the bit coin and lite coin have shot of from an average of ~$135 to just over $900 a piece. With an almost tenfold profit margin people with a mere one or two coins in their virtual wallets are rejoicing as they sit and watch their money build.  While others are kicking themselves for cashing out early due to the natural rise and falls of such an entity. It leaves many to wonder just why the sudden hike in value, and is it too late to invest themselves? Pertaining to my last post on the silkroad, an estimated 13-18 percent of the entire bit coin market was accumulated in onsite and other linked wallets. After the seizure of the site many have been weary of even logging in wondering if their passwords will be logged and their funds seized as has been the case with quite a few already decrypted wallets. Causing a slight shortage in a entity that was little known to the general public just a couple months ago.

Food for thought.

-Giles R.

 

 

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