Since the start of the year, the Japanese yen has risen by about 12 percent against the dollar. The euro has fallen by about 1 percent. Then theres bitcoin, a virtual currency that doesnt even exist in the physical world. In the past few months, the value of bitcoin has risen by more than 1,000 percent many months ago to more than $200 today. On todays show, we ask: Is a skyrocketing value a good thing or a bad thing for bitcoin?
It has to be a good thing. This indicates that people want it. the difficulty lies in spreading the coin around so that it becomes accessible to the normal man in the street. Then the currency will be worth so much more, but when only a few have so many bitcoins then this will stall the price rise.