Wildly Uneven Bitcoin Prices Across Trading Exchanges

Wildly Uneven Bitcoin Prices Across Trading Exchanges

Exchanges, Flexslider December 2, 2013 , by admin Comments Off 34

One bitcoin is now worth more than $1,000. Or is it? The answer depends on where you look.

While the virtual-currency craze has sent bitcoin prices to record highs, the development of new trading exchanges has made it confusing for enthusiasts to identify the current price.One bitcoin exchange, Tokyo-based Mt. Gox, on Wednesday showed a price of $1,061, up from less than $14 at the beginning of the year. But another, Slovenia-based Bitstamp, showed a price of $965. The CoinDesk index of two exchanges—Bitstamp and Bulgaria-based BTC-e—was even lower, at roughly $950.The differences among the exchanges reflect the scattered nature of bitcoin trading, say people who track the activity. Erratic volumes and technical issues are creating big price swings, and sometimes wildly uneven prices across trading marts. That could begin to ease a bit. CoinDesk on Thursday plans to start incorporating prices from Mt. Gox. People who track bitcoin prices say the more comprehensive index will provide a truer representation of the currency’s value.

as reported By Robin Sidel in the Wall Street Journal, Nov. 27, 2013

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Bits and Pieces

Mystery still surrounds Bitcoin. Its creator -– or creators -– has remained anonymous and specific details surrounding the history of the virtual currency remain fuzzy. Still, buzz is growing. Here’s a rough timeline of the Bitcoin evolution.

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