Bitcoin high

On Monday morning, Matt and I finished off the last of the Bitcoin coffee beans.
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We have been watching over the past few weeks as the value of Bitcoin has gone up and up — a slow building increase that came to its peak over the Thanksgiving weekend, as speculators (maybe in China, which seems to have been the center of a buying spree) drove the price over $1,000 a Bitcoin.

Last I checked, the price had relaxed a bit to just under that magic mark. Even so, the uptick made those two bags very dear! Matt had never used his Bitcoin to make an actual purchase, so he had ordered coffee beans online, direct from a company that is meant to help internet entrepreneurs use the e-currency.

The beans arrived in good time, with good taste (!), but at the peak of the Bitcoin frenzy. When Matt paid in a tiny increment, something like 0.15 Bitcoin, the beans were a deal at around $30 including direct shipping. By the time they arrived, the increment was worth about $100!

It was totally worth it, if only to say that Matt had used his Bitcoin. Maybe the currency will be more universally useful someday. In the meantime, we enjoyed the coffee.

http://qz.com/156479

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2 Responses to Bitcoin high

  1. Mom says:

    Was there more to this post?

  2. Jen says:

    Did Matt mine the bitcoin?

    I a really hilarious article about the difficulty of trying to cash out of bitcoins (in Canada) recently: http://buttcoin.org/easy Seems like Matt did good to turn his into coffee.

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