Market timing, lbo-news style
As I’m typing this, bitcoin is having another terrible day, trading at $10,050, down 11% from yesterday and 48% from its all-time high of $19,290. (For the latest price, click here.) Of course, it also had a spectacular upward run. On August 17, 2010, when the cryptocurrency’s price history begins, it was worth $0.08. Four-and-a-half months later, January 1, 2011, when the chart just below begins, it was worth $0.30, a gain of 290%. A year later, January 1, 2012, it traded at $5.20, a gain of 1,633%. Five years later, January… Read More
Fresh audio product
Just added to my radio archive (click on date for link): December 21, 2017 DH on bitcoin • Yanis Varoufakis ties up some loose ends on Adults in the Room, and then discusses the need for a progressive internationalism
Is Bitcoin the future of money?
This originally appeared in The Nation, April 30, 2014, issue. With Bitcoin now having migrated from obscurity to headlines (though I said “all over the headlines” then, it’s really broken into the bigtime now), I thought I’d repost it here, since it’s behind a paywall. My BTC 0.05 would be worth $862.50 as I’m posting this, but I sold it, alas. Is Bitcoin the future of money Doug Henwood What’s being touted in some circles as the future of money looks hardly more peaceful than its past. Bitcoin, a formerly obscure cyber-currency, is… Read More
Posted on December 22, 2017 by Doug Henwood
Bitcoin, a commentary
When this commentary was broadcast at the beginning of my radio show at noon, Pacific time, December 21, bitcoin was trading at about $15,600. It had a bad Friday, losing almost a quarter of its value, bottoming out at $11,858, before recovering to $14,267 as I’m posting this. I am not claiming cause and effect. I’m going to indulge in a rare bit of holding forth on my own—on the topic of bitcoin. I thought of having a guest do that, but since I wrote a piece on the topic for The… Read More