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Bitcoin slammed as ‘worst investment of 2014’

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Bitcoin slammed as ‘worst investment of 2014’

Bitcoin has been officially named the worst investment of 2014, a result of the cryptocurrency’s steep decline in value this year.

In fact, even the Greek stock market fared better than Bitcoin in terms of percentage value drop, marking a serious slump in the digital dosh’s success.

Business site Quartz dubbed the currency with its new title, after revealing the ‘worst of the worst’ investments of the year.

"There was plenty of ugliness to be found in the markets this year," wrote the site, "But none of these investments has been as atrociously awful as Bitcoin."

So just how bad was 2014 for Bitcoin? Well when valued against US dollars, the currency dropped an incredible 52 per cent in value.

Greek stocks, by comparison, saw a fall of 28 per cent, much lower than the drop in Bitcoin worth.

Bitcoin now prices up at $322.26 per coin, which translates to £206.45 sterling – still no sum to scoff at.

Unfortunately it seems the currency is well past its prime, as Bitcoin’s record high measured in at $1,242 on November 29 last year – that’s £790 per coin.

Related: Microsoft adds Bitcoin support for Xbox and Windows stores

At the start of 2014, Bitcoin weighed up at somewhere around £740 per coin, seeing an April slump to around $400, and prices just keep falling.

It’s been a tough year for Bitcoin, largely thanks to the clamp down on the illicit Silk Road marketplace and the Mt. Gox cryptocurrency exchange.

The most worrying potential outcome for Bitcoin loyalists is a sudden exodus of investors, which could lead to a huge devaluation over a very short period of time, effectively rendering the currency worthless.

Other entrants to the ‘worst of the worst’ investment roster included the Argentine peso with a 24 per cent fall, and Russian US dollar corporate bonds with an 18 per cent fall.

Crypto Currency Swot

December 17, 2014, 5:16 pm

you should always have a long term vision on your investments, one year is not long term.

If you take "December of 2011 till December 2014" = 12,50 USD in 2011 320 USD now = increase of value by 2560%.

or

December 2010 0.27 USD for one BTC against 320 USD now = increase of by 118518 %

More important is the increase of involved engineers and excellent coders, billion dollar companies and million of users (re)searching new ways of opportunities to deal with programmable money.

In fact, you can send any one on earth any amount of money without knowing the bank account of the person. If you get a message to reach the person, you can make millionaire by random. Pick your date, girl, family member or friend and make him happy with a nice surprise.
Remember, 6 billion people still have no access to a financial system.

Bitcoin is not a boring investment to gain a few USD. Bitcoin will disrupt even so called news portals like this one.

Neal Palmquist

December 17, 2014, 6:27 pm

You guys just don't know when to give up.

Make millionaire by random? What? Are you okay, dude?

Darren72

January 5, 2015, 2:14 pm

Is this speculation or fact? Because if it is speculation and 5 years down the road, you are going to look like a fool and you have to start inventing excuses to cover your track

Brygirl Wahaha

July 27, 2015, 3:03 am

The reality is it's subject to speculation and manipulation like every other market. It's no better than a stock market rigged by a few groups of very powerful investors with insider knowledge and forming strategies to short or manipulate it. I'm not saying in theory that any government backed currency is better but it is widely accepted and that's what gives it it's power.

If children were taught from an early age to distrust a government's economical based currency and to support bitcoin, then in a few generations you would have a real paradigm shift. Right now... it's an unstable market.

It's amazing that we have such "trust" in the U.S. currency at all. After all it's not backed by anything anymore than faith. The federal bank uses their printing presses to "regulate" interest rates, inflation, investment all the while giving the best and sweetest deals 0% interest loans at some points W.T.F.?!? to the largest banks that should be getting the HIGHEST RATES; they then turn around and create these uber' lucrative (for themselves) ultra risky investments that pay off huge for them for a while and garner amazing bonuses (and praise from the government as "job creators")...UNTIL the over extended over leverage disasters that they were creating all along collapse. Then we (the tax-payers) take it up the arse as the piggy bank to bail these a$$ #@ts out because they are deemed to big to fail, to essential to our economies' survival. Yet our congress won't pass necessary regulation to prevent it from happening again?!? --> basically to restore the pre-Clinton laws Glass-Steagall banking act that protected us for decades, or to investigate or regulate derivatives. Few have been warning yet again of these "creative" investment speculation deals that nearly up-end our entire economy once before going right back into practice nearly unabated. What's it going to take for us to wake up?

JIm

April 5, 2016, 10:11 am

I recommend invest to cloud Mining Bitcoin service stable,fast and profitable.
company with good platform .Seven data-centres. High earning power.
Return on investment within 4-5 months.

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