Bitcoins pass the $1000 mark

[pwaldo]

http://www.dailymail.co.uk/sciencete...lue-weeks.html

Virtual currency Bitcoin has passed the $1,000 (£613) mark for the first time since it was introduced in 2009.

According to the currency's main exchange, Mt.Gox, the price for a single Bitcoin has almost quadrupled since its previous record high of $267 (£165) less than three weeks ago

Analysts claim the demand for Bitcoin follows increased awareness about benefits of the currency and a drive to move it into the mainstream.

At the start of the month the currency more than doubled its value within a week - jumping from $100 to $266. It then hit $267 on 6 November.

The digital currency is increasingly being treated like gold, with some investors using it to hedge against currency fluctuations and speculating on its rise.

Bitcoins can be bought with near anonymity, which supporters say lowers fraud risk and increases privacy.

The current rises follow the launch of the world’s first Bitcoin ATM, dubbed Robocoin, in a Vancouver coffee shop.

The blue and silver ATM machine, which is operated by Vancouver-based Bitcoiniacs and Nevada-based Robocoin, changes bitcoins to Canadian dollars and vice versa.

Users scan their hand to confirm identity, and then funds move to or from a virtual wallet on their smartphone.

[Zimbow]

You hear about the fellow that tossed away his hard drive full of bit coins? Worth over $7.5 million.

[pwaldo]

You hear about the fellow that tossed away his hard drive full of bit coins? Worth over $7.5 million.

Yup here's the story for those that want to read it:

http://washington.cbslocal.com/2013/...h-7-5-million/