Hard to believe the gambling going on with Bitcoin

Posted By on December 6, 2017

So much for using Bitcoin as a cryptocurrency? How does one set prices for products and services "in Bitcoins" when there isn’t any stability of value? So much for using it as currency … more like gambling or speculating on artwork as these bits of invisible computer cyber bytes continue to find pyramid scheme buyers.

On Wednesday, bitcoin rocketed higher crossing the $14,000 mark on at least one exchange less than 24 hours after topping $12,000.

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The landmark happened on the Coinbase exchange just before 6 p.m. ET, and it traded as high as $14,344.22 on that platform. That said, there are often significant price differentials on different bitcoin exchanges. CoinDesk, a widely regarded industry site, said as of 6:16 p.m. ET that its average of prices across leading exchanges showed a high point of $13,810.72 for the cryptocurrency.

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Comments

Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.