Bitcoin Hits Highest Levels In Almost Three Years (reuters.com)

Posted by msmash on Friday December 9, 2016 @08:20AM from the peak-time dept.

Digital currency bitcoin hit its highest levels in almost three years on Friday, extending gains since India sparked a cash shortage by removing high-denomination bank notes from circulation a month ago. From a report on Reuters: Bitcoin was trading as high as $774 on the New York-based itBit exchange, up almost 1 percent on the day and the highest since February 2014, having climbed almost 9 percent in the past month. It has climbed around 80 percent so far this year, far exceeding its 35 percent rise in 2015.

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Re:I guess there is demand by Artem+S.+Tashkinov · 2016-12-09 09:14 · Score: 4, Informative

Fake money? Who wants it?
All money is fake by definition. We all agree those paper bills cost something when in fact it's just worthless paper. What's more, there's hugely more electronic money and various forms of money derivatives (like shares, debts, obligations, etc. etc. etc. read this article https://en.wikipedia.org/wiki/... ) right now than real banknotes. I guess it's 100 to 1 nowadays if not more.
So real money is only 1% tangible while bitcoin is 0% tangible. Not a huge difference for me.