Bitcoin price at record high against pound and euro Bitcoin has hit a new all-time high against the pound, with the virtual currency now well above the previous record levels of late 2013.The currency remains below the record level against the dollar, the typical international benchmark, but has shot past its previous highs in sterling terms in recent days.One bitcoin was worth £782.49 on Wednesday, above the £694.65 it reached on November 29 2013.Against the dollar it sits around $957, below the $1,137 that Bloomberg records as its all-time high, but the fall in the pound since then has been a boon for British traders.The currency is also at an all-time high against the euro, at €918.The rise in recent months has been attributed to the steady devaluation of the Chinese yuan.Most bitcoin trading takes place in China and so financial conditions in the country have a huge effect on the currency's price.November's election of Donald Trump also sent the value of Bitcoin rising, while moves to make certain cash denominations obsolete in India and Venezuela may also have had an effect.

Even if the price of a bitcoin is not at a record level in dollar terms, the larger number on the market means the total value of all bitcoins in circulation has reached a new record of over $15bn.Bitcoin prices spiked in late 2013 amid a swell of interest in the cryptocurrency, which are infinitely divisible and independent from any government or central bank.However, they subsequently plummeted as the world's biggest exchange collapsed.The identity of the currency's founder, known as Satoshi Nakamoto, remains a mystery despite several attempts to unmask him or her.Silver price charts Live & historical silver prices per ounce Benefit from real time silver price charts to access historical silver prices and understand how silver investing news affects the latest silver price.Keep your eye on spot silver prices and silver price history for an informed, historical perspective with silver charts going back over 20 years.60 day silver price per ounce 6 month silver price per ounce 1 year silver price per ounce 2 year silver price per ounce 5 year silver price per ounce 10 year silver price per ounce 20 year silver price per ounce All data silver price per ounce

Buy/Sell Bitcoins CEX.IO is a place for everyone who wants to simply buy and sell Bitcoins.Deposit funds using your Visa/MasterCard or bank transfer.Instant buy/sell of Bitcoins at fair price is guaranteed.Join over 700,000 users from all over the world satisfied with our services.Bitcoin Trading Advanced order-matching algorithms are backed by unique trade engine.Orderbook liquidity allows to execute high-volume orders and apply market making trading, high frequency trading and scalping strategies.Compliant with security standards, we guarantee safety of your assets and data.The value of Bitcoins, the "cryptocurrency" that some had thought would take over from more traditional currencies, has plummeted across exchanges – to a level where it costs more to "mine" them than they are worth.Though there's no obvious reason why, part of the problem seems to be precisely what economists remarked on when its value began to spike as more and more people piled in: the appreciation in value was a speculative bubble, caused by people hoarding the currency, rather than the start of a new (or parallel) economy.

The value of Bitcoins on one of its main exchanges, MTGox, has collapsed since mid-June from a high where it was trading at the equivalent of about $30 per "coin" almost to parity now.bitcoin live price audThat still marks an improvement over the year: on 1 January 2011, Bitcoins traded at 30c each.bitcoin paypal auszahlenSimilar falls in value are evident across other exchanges, as shown by the values on Bitcoin Watch, where the value of Bitcoins being traded has fallen from a high of more than $30 to between $1 and $2 now.sell bitcoin to wuBitcoins, which are in fact just very long strings of numbers, are "produced" by a processor-intensive calculation which requires increasing amounts of computing power to create each one.bitcoins vekopen

There is also a limit on how many can ultimately be produced, according to the algorithm which generates them.bitcoin dice tricksSo far 7.48m have been produced.litecoin with coinbaseThe problem with the Bitcoins' value falling below the cost of "mining" – actually the computer time that has to be devoted to them – arises because as each "coin" (or computer hash) is generated, the peer-to-peer network used by computers that accept and generate them makes it harder to generate the next.According to the explanation at Tradehill, "New coins are generated by a network node each time it finds the solution to a certain mathematical problem (ie creates a new block), which is difficult to perform and can demonstrate a proof of work.The reward for solving a block is automatically adjusted so that in the first four years of the Bitcoin network, 10.5m BTC will be created.

The amount is halved each four years, so it will be 5.25 over years four to eight, 2.625m over years eight to 12, and so on.Thus the total number of coins will approach 21m BTC over time."In May one user suggested that the effort being thrown at Bitcoins was wasted: "We're all trying to profit from the high exchange rates (1BTC is 9USD at the time of writing this) that we're throwing everything we've got at the bitcoin network.We profit from our actions for a couple of days, then the network detects the increase in speed and adjusts itself down, negating all the efforts we put into it, forcing us to buy even more processing power.It's an endless cycle of stupidity that simply cannot be solved by human nature."With the value of Bitcoins dropping so low, and the computing power required to produce them growing steadily, it is becoming uneconomic to generate more except through the use of hacked computers in "botnets".Although there has been anecdotal evidence of their being used to generate Bitcoins, many botnets are hired out on a commercial basis to send spam or host phishing websites – and that may be more profitable, directly, than creating the currency.

Hackers and members of the underground like Bitcoins because transactions involving them are almost untraceable, yet can be carried out between computers.That has proved both a blessing and a curse, though, after one user discovered in June that his computer had been hacked and 25,000 Bitcoins – then worth almost $500,000 – had been removed from the "wallet.dat" file on his machine.Because of their untraceability, he could not know who had taken ownership of them.A few days later MTGox itself was attacked when someone tried to sell more than 400,000 Bitcoins, which would have been worth about $9m.But that prompted a huge drop in per-coin value from more than $17 to $0.01 because there weren't enough buyers at the higher price.MTGox went offline and pledged to reverse the transactions.However, commentators had suggested that the biggest weakness about Bitcoin was that although many were being produced, their apparent value was based on small numbers of transactions within a small group – which is not an effective model for a viable currency.

Although there are a number of websites that accept Bitcoins in exchange for real-world goods and services, it is very difficult to measure how many transactions have occurred.That, in turn, makes it hard to calculate how many people are using them.But graphs on a Belgian site that tracks the computational power being applied to Bitcoin mining suggest that the amount dedicated to it peaked in mid-August, and has fallen since then.That would indicate that fewer people are trying to mine Bitcoins – even though only one-third of those that could be discovered have been.Paul Krugman, a Nobel prizewinner in economics, criticised Bitcoin in an article in the New York Times in September: "What we want from a monetary system isn't to make people holding money rich; we want it to facilitate transactions and make the economy as a whole rich.And that's not at all what is happening in Bitcoin.Bear in mind that dollar prices have been relatively stable over the past few years – yes, some deflation in 2008-2009, then some inflation as commodity prices rebounded – but overall consumer prices are only slightly higher than they were three years ago.