Published on October 12th, 2017 | by bitcoin0
Doubling Down on Bitcoin
My best guess is that in the long run, the technology will thrive, but that the price of bitcoin will collapse.
The price of bitcoin is up 700 percent over the past 12 months, and 1,800 percent in the past 24 months.
China, concerned about the use of bitcoin in capital flight and tax evasion, recently banned bitcoin exchanges.
Bitcoin price surges after agreement on software update
On Monday afternoon, bitcoin was trading above $4,290, an increase of about 7 percent.
Perhaps bitcoin speculators are betting that there will always be a consortium of rogue states allowing anonymous bitcoin usage, or even state actors such as North Korea that will exploit it.