My Bitcoin stash is falling in value!

Yes, I have about $100 in Bitcoin and today was a bad day. It droppped from around $630 to around $580. Am I a speculator? I guess, but my excuse is that I'm very interested in the underlying technology and there's nothing like having some to getting a feel for the space. Here's a great article about Bitcoin Mining.

For Virtual Prospectors, Life in the Bitcoin Mines Gets Real - WSJ.com:

Bitcoins are mined by a decentralized network of computers that guess solutions to a mathematical puzzle. As part of that process, miners keep track of and verify all transactions on the bitcoin network, so bitcoins are a kind of compensation for maintaining the ledger of transactions. The faster a person's computer system can find solutions relative to the rest of the network, the better chance he or she has of being awarded bitcoins.

 

Posted on March 21, 2014 .