It’s been quite a week for Bitcoin, going from about $480 on Sept 10th when I ordered my mining contracts to a low of $386 yesterday (a drop of about 19% in value).

The Alibaba IPO – did it cause Bitcoin’s plunge in value in Sept 2014?

No one knows the actual cause for the drop but a good candidate is the Alibaba IPO that happened on Sept 19th. Looks like a lot of investors were selling their Bitcoins, especially in China, so as they could buy into Alibaba. Now, a day after the dust has settled, Bitcoin has returned …

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The Mt.Gox debacle has got some pundits chirping about how it will bring about the fall of Bitcoin. I came across this article in which an economist puts forward her ideas on why Bitcoin is a failed experiment and why it’s value will drop to zero.

I don’t agree with her, and here’s why (you’ll need to read her article first):

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  1. She’s wrong on this statement: “Fiat currencies (money) are pegged to real assets and backed by governments“. Fiat currencies are basically backed by hot air and not by real assets. That all

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