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posted by martyb on Tuesday December 27 2016, @11:27PM   Printer-friendly
from the real-appreciation-of-virtual-currency dept.

The value of the Bitcoin virtual currency has hit a three-year high with each one now worth about $900 (£730).

At the start of 2016, single coins were only worth around $435 but their value has climbed steadily all year.

The steady upward progress has continued despite regular hack attacks on virtual currency exchanges in which coins have been stolen.

Experts said the rise in value was linked to the long-term depreciation of the Chinese Yuan.


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  • (Score: 2) by nethead on Wednesday December 28 2016, @02:22AM

    by nethead (4970) <joe@nethead.com> on Wednesday December 28 2016, @02:22AM (#446530) Homepage

    NOW you tell me.

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  • (Score: 0) by Anonymous Coward on Wednesday December 28 2016, @03:59AM

    by Anonymous Coward on Wednesday December 28 2016, @03:59AM (#446546)

    People have been telling us for years. We never seem to learn.

  • (Score: 2) by mmcmonster on Wednesday December 28 2016, @04:27PM

    by mmcmonster (401) on Wednesday December 28 2016, @04:27PM (#446740)

    You'll feel better if the news was phrased differently.

    ie: 'Bitcoin almost makes up all it's losses from 2014 crash'.

    • (Score: 2) by mmcmonster on Wednesday December 28 2016, @04:37PM

      by mmcmonster (401) on Wednesday December 28 2016, @04:37PM (#446746)

      Or put another way:

      If you had invested in Bitcoin on Jan 3, 2014, you would be up 28.9% as of today.

      On the other hand, if you had invested in VFIAX (the Vanguard S&P 500 mutual fund (admiral shares) and re-invested all dividends on Jan 3, 2014, you would be up 31.8% as of today.

      Dividend re-investment in an index mutual fund is fantastic. And Bitcoin is a currency; it doesn't give dividends.

      I'd rather put my money in an S&P 500 index mutual fund.

  • (Score: 2) by jdavidb on Wednesday December 28 2016, @04:31PM

    by jdavidb (5690) on Wednesday December 28 2016, @04:31PM (#446742) Homepage Journal
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