Check-In CES: Bitcoin Goes Legit

Currency continues to grow and gain acceptance

If value is a good measure of success, then 2013 was a wildly successful year for Bitcoin, which saw its price increase roughly 6,000% from beginning to end. Yet the currency remains a target for many economists and reporters who find it difficult to think of it as a simultaneously viable investment commodity and a viable medium of exchange without any regulation, which further ignores a third aspect of Bitcoin as a payment protocol. To summarize the argument, picture two people who each owned 5,000 bitcoins in January 2013. One of them bought a Tesla automobile for the equivalent of $70,000. The other held on to his/her bitcoins and can now retire comfortably with the equivalent of $4,000,000. Such is the risk associated with storing and exchanging a volatile commodity.