Tag Archives: forbes

Forbes names Litecoin the best investment for time travelers going back to early 2013

Forbes published an article today that highlights the tremendous earning power of Litecoin for anyone that had the foresight to buy-in a year ago—it handily beat out top stocks, gold, and even Bitcoin to earn its spot as the top investment of 2013. From the article:

The best way to spend a c-note on January 1, 2013 was on competing cryptocurrency Litecoin. Worth seven cents then, its value increased along with Bitcoin’s, reaching $23 by December, or 328 times its initial value. That means a $100 investment in Litecoin last year would be worth $30,000 now.

No doubt many of you did tremendously well with Litecoin last year. Hopefully 2014 will continue the trend!

Forbes journalist living on bitcoin for a week

A Forbes staffer is chronicling her week-long experiment to live solely on bitcoin for one week. Her journey only began yesterday, but you can read about how the first day went by clicking the link.

Steve Forbes: Bitcoins are not money

According to Steve Forbes, bitcoin does not qualify as a currency. The basic reason? Bitcoins do not have a fixed value, thanks to their outrageous volatility:

Money is most optimal when it is fixed in value just as commerce is facilitated when we have fixed weights and measures. When you buy a pound of hamburger you expect to get 16 ounces of meat. An hour has 60 minutes. A mile has 5280 feet. These measurements don’t “float.”

Forbes makes a valid point. Cryptocurrencies in general don’t stand a chance of widespread adoption until the massive swings in daily (hourly) value calm way down. Nobody wants to worry about their own personal version of the $2 million bitcoin pizza every time they spend cryptocurrency, after all.