$100 of bitcoin in two thousand ten is worth $75 million today

The inwards track on Washington politics.

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A Bitcoin sign is seen in a window in Toronto, May 8, 2014. (Reuters/Mark Blinch/File Photo)

Bitcoin has received a lot of attention over the past few weeks in the wake of the latest malware attacks that impacted dozens of countries and thousands of businesses around the world which required a “ransom” payment to be made in the digital currency to unlock files that were encrypted by the virus. The question for many business owners is that, given its growing acceptance, is it ready for prime time? Should we accept bitcoin?

There’s no question that it’s been a good investment, particularly if you bought at the right time. According to this report from CNBC, the price of a single bitcoin has recently soared to $Two,200 from just $0.003 only seven years ago. We know this because on Monday its fans celebrated the anniversary of Bitcoin Pizza Day, when Laszlo Hanyecz, a programmer, spent Ten,000 bitcoin for two Papa John’s pizzas. Times have undoubtedly switched.

So what’s driving the run up in price? CNBC’s tech correspondent Arjun Kharpal cites factors such as fresh legislation in Japan that permits retailers to accept the cryptocurrency (40 percent of all bitcoin trade is in Japan), the resolution of a dispute in the digital community that could’ve created challenging currencies and the general market turmoil brought on by global economic uncertainty.

President Trump’s stated desire to weaken the dollar and make American goods more attractive overseas may also be contributing. Not only that, but according to this report on CNN.com, a few high ranking members of his administration, like budget director Mick Mulvaney and vice president Mike Pence’s chief economist Mark Calabria, have both supported the cryptocurrency.

The currency is not backed by any government and can’t be physically held in your palms. It’s just out there–in the ether–and protected by blockchain, a digital recordkeeping system that’s so secure many banks are considering a budge toward adopting it as the backbone of their payment systems.

Some puny businesses, particularly online retailers, are considering accepting bitcoin as another means of payment. Most investors agree that, albeit the currency’s meteoric rise is very attractive, it’s also an enormously volatile and risky investment. Once you commence accepting bitcoin in your company you’ll have to ask yourself what business you’re indeed in: your business, or the currency business.

100 of bitcoin in two thousand ten is worth $75 million today – The Washington Post

$100 of bitcoin in two thousand ten is worth $75 million today

The inwards track on Washington politics.

*Invalid email address

A Bitcoin sign is seen in a window in Toronto, May 8, 2014. (Reuters/Mark Blinch/File Photo)

Bitcoin has received a lot of attention over the past few weeks in the wake of the latest malware attacks that impacted dozens of countries and thousands of businesses around the world which required a “ransom” payment to be made in the digital currency to unlock files that were encrypted by the virus. The question for many business owners is that, given its growing acceptance, is it ready for prime time? Should we accept bitcoin?

There’s no question that it’s been a good investment, particularly if you bought at the right time. According to this report from CNBC, the price of a single bitcoin has recently soared to $Two,200 from just $0.003 only seven years ago. We know this because on Monday its fans celebrated the anniversary of Bitcoin Pizza Day, when Laszlo Hanyecz, a programmer, spent Ten,000 bitcoin for two Papa John’s pizzas. Times have certainly switched.

So what’s driving the run up in price? CNBC’s tech correspondent Arjun Kharpal cites factors such as fresh legislation in Japan that permits retailers to accept the cryptocurrency (40 percent of all bitcoin trade is in Japan), the resolution of a dispute in the digital community that could’ve created contesting currencies and the general market turmoil brought on by global economic uncertainty.

President Trump’s stated desire to weaken the dollar and make American goods more attractive overseas may also be contributing. Not only that, but according to this report on CNN.com, a few high ranking members of his administration, like budget director Mick Mulvaney and vice president Mike Pence’s chief economist Mark Calabria, have both supported the cryptocurrency.

The currency is not backed by any government and can’t be physically held in your forearms. It’s just out there–in the ether–and protected by blockchain, a digital recordkeeping system that’s so secure many banks are considering a stir toward adopting it as the backbone of their payment systems.

Some petite businesses, particularly online retailers, are considering accepting bitcoin as another means of payment. Most investors agree that, albeit the currency’s meteoric rise is very attractive, it’s also an utterly volatile and risky investment. Once you embark accepting bitcoin in your company you’ll have to ask yourself what business you’re indeed in: your business, or the currency business.

Related video: Bitcoin- Arbitrage Software


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