Price of bitcoin hits 34-month high

[The Buzz]

There has been a lot of talk here on the forums over the past year or so about bitcoin (ICYMI, here's a link to GPWA Times magazine cover story: https://www.gpwatimes.org/issue36/#18). According to CoinDesk data, bitcoin hit a 2016 high on Tuesday and traded at a 34-month high of $788.49, following "Chinese stock market jitters."

Experts said the rise in bitcoin on Tuesday was due to choppy Chinese stock markets which were trading lower for most of the day before closing in mildly positive territory. The Chinese yuan has also fallen against the U.S. dollar this year which has given a boost to bitcoin, according to Bobby Lee, chief executive of BTC China, one of the largest bitcoin exchanges in the world.

"People are waking up to the fact that bitcoin is money in the cloud, so when you exchange from local currency like the Chinese yuan or U.S. dollar, you are exchanging this physical money to money in the cloud. What's good about money in the cloud, is it has been stable, the volatility has been down, it's a good store of value," Lee told CNBC by phone

Read more from CNBC here: http://www.cnbc.com/2016/12/13/bitco...uan-falls.html

[PROFRBcom]

Looks like it's taken another big leg up in the last week!

[Roulette Zeitung]

The result of the hype?

Cybercriminals on Dark Net Make $1000 to $200,000 in BTC a Month

===> http://www.newsbtc.com/2016/12/18/cy...-btcs-a-month/

Leopold