20 Apr '13, 8am

Is Bitcoin Social or is Social Bitcoin: The Cryptocurrencies Interdependency

Is Bitcoin Social or is Social Bitcoin: The Cryptocurrencies Interdependency

Bitcoin’s quite the little minx isn’t it? The digital currency has been on a wild ride of late and has managed to engross not just the hard core internet users, but the world in general. From a standing start at $7.20 around 15 months ago, Bitcoin managed to hit $266 at around a week ago, before taking a hit and falling back to around the $100 mark and now it’s rising again. It doesn’t take a stock market expert to realise that it’s quite a volatile item. One of the more interesting aspects is its link to social media. Like any stock, currency or investment, confidence and trust are major factors in determining worth. In Bitcoin’s case they’re significant and maybe even the only factors, as outside of these two areas there is little real value to the cryptocurrency. In a lot of ways Bitcoin is the first real investment area that a lot of normal people are taking a gamble i...

Full article: http://socialmediatoday.com/mark3000/1397306/bitcoin-soci...

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