Tuesday, January 16, 2018

One person is probably responsible for almost 600 percent of Bitcoin's price rise


Bitcoin is complicated. From what, exactly, it's good for to who created it, there remains a host of unanswered questions about the world's foremost cryptocurrency. 

But when it comes to what drove the monumental price rise over the last 9 years, we now have at least a partial answer — and it's not what you'd think. You see, it turns out that one person or one coordinated group is likely responsible for a massive increase in Bitcoin's value back in 2013. Yup, just one. 

That's the conclusion of a group of researchers in the Journal of Monetary Economics, who write that the price of Bitcoin has been (surprise!) subject to manipulation over the years.  Read more...

More about Bitcoin, Mt. Gox, Cryptocurrencies, Altcoins, and Tech

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