Why is Bitcoin Value Rising ?

The ruins of an ancient Chinese watchtower fro...

The ruins of an ancient Chinese watchtower from the Han Dynasty (202 BC – 220 AD), located along what was the old line of rammed-earth fortifications in Dunhuang, Gansu province, China, that once stretched from the Hexi Corridor (in Gansu) to the Tarim Basin (in modern Xinjiang). (Photo credit: Wikipedia)

The Washington Post published an excellent article recently.

The short summary is:

1. Silk Road (A site selling illegal items where payment was Bitcoin only) was closed down. The US Government confirmed it has no problem with Bitcoin as a currency, just the criminals that use it. Just like cash really. The US authorities also seized over $20 Million worth of Bitcoin when it shut down Silk Road, so the US Government is now a stakeholder (big Bitcoin owner).

2. The Chinese are starting to adopt Bitcoin. There are over 1 Billion Chinese people, there will only ever be 21 million Bitcoin, it’s easy maths in my opinion.

Yesterday, it was announced that the BTC China (China’s Bitcoin Exchange) has become the worlds largest exchange by number of coins traded.

The full Washington Post article is here: “Why Bitcoin prices are at a five month high”  I hope you enjoy it.

Also this week the first Bitcoin ATM went live in Vancouver, Canada. You can buy Bitcoin or withdraw Canadian Dollars, perfect.

Last, but not least, a very successful technology entrepreneur raises $9 Million for a Bitcoin start up called Circle, “We’re building digital currency products that make money simpler, safer, and more powerful.”

It’s all great news!

Thanks for reading.

Bitcoin, bitcoin coin, physical bitcoin, bitco...

Bitcoin, bitcoin coin, physical bitcoin, bitcoin photo (Photo credit: antanacoins)

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3 Comments

Filed under BitCoin

3 responses to “Why is Bitcoin Value Rising ?

  1. Say what you want about the long-term viability of Bitcoin, but the price has increased many times over the last few months and it’s only going to get higher as the craze continues.

  2. Usually I do not learn article on blogs, however I would like to say that this write-up
    very forced me to take a look at and do it! Your writing style has been surprised me.
    Thanks, quite nice article.

  3. Marina

    An all great list except for one of them 😉 I am so very proud that finally the world has broken free from government only controlled trade. With all of the technology at our finger tips these days, it’s about time, is all I can say. And now people, watch the math and magic happen. Oh and watch that list grow on a scale never before seen. Viva.

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