Bitcoin Set to Boom in Latin America

southamericabitcoinboom03 Jan 2014 / Panama Post – Bitcoin is no longer insignificant.

Initially derided by most as a gimmick, the current market value of all bitcoins in circulation is an estimated US$10 billion.[1]

On Friday, November 29, 2013, the value of a single bitcoin peaked at $1137. To put this in perspective, one bitcoin could have been purchased a year ago for roughly $13.

Critics argue that the price indicates a bubble, while enthusiasts would suggest that bitcoins are still undervalued even at current rates. Whichever the case, the price subsequently dropped from November’s all-time high, but is currently hovering around $730.


This substantial increase in market valuation stems from interest from both speculators and third parties making use of bitcoin as an innovative, ​decentralized, and technically secure (thus far) medium of exchange.

Released to the world in 2009 as the mysterious creation of a (presumably) pseudonymous developer, ​”Satoshi Nakamoto,” bitcoin initially gained traction from enthusiasts because it managed to successfully resolve a few fundamental issues surrounding cryptocurrencies (digital currencies), including “double-spending”[2] and decentralization. In addition, unlike traditional currencies, bitcoin is deflationary by nature, since​ theoretically ​only 21 million bitcoins will​ ​​ever be created….. Read more

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