Thursday, May 24, 2018
Business

Value of Bitcoins tops $1,000

It's been an amazing month for Bitcoin, the decentralized payment network that got a surprisingly positive reception last week at a pair of Senate hearings.

At the start of this month, one Bitcoin traded for just a bit more than $200. By mid month, it had soared to $400. Then, about the time of the Senate hearings, it rose briefly above $900. On Wednesday, the price broke through the $1,000 barrier on Mt. Gox, the most popular exchange for trading Bitcoins for dollars.

That represents a massive windfall for those who bought the currency early. Gavin Andresen, Bitcoin's lead developer, reportedly bought 10,000 Bitcoins for $50 early in the currency's life, giving away one Bitcoin at a time on a site called the Bitcoin Faucet. If he had held on to those coins, they would be worth $10 million.

The Winklevoss brothers, made famous by a high-profile dispute over the founding of Facebook, had amassed $11 million in Bitcoins by April, when one Bitcoin was worth about $120. Earlier this month, the value had swelled to at least $32 million. Today, the value of their holdings have tripled again, to at least $90 million.

It's important to note that the price of Bitcoins varies significantly between exchanges. Mt. Gox hasn't made it easy to withdraw dollars from the exchange. As a result, Bitcoins on Mt. Gox trade at a premium. On Wednesday, Bitcoins were trading for $950 on Bitstamp and for $915 on BTC-e.

Comments
As home sale prices rise, a lack of homes makes it tough on buyers

As home sale prices rise, a lack of homes makes it tough on buyers

Home sale prices continued to rise both nationally and statewide in April as a prolonged dearth of available homes on the market is making it tough on buyers. A total of 24,804 single-family homes changed hands across Florida last month, up 4.1 perce...
Updated: 1 hour ago
Brink: A 25-cent hike in the federal gas tax is a rotten idea for Florida

Brink: A 25-cent hike in the federal gas tax is a rotten idea for Florida

No matter your politics, the proposed 25-cent hike in the federal gas tax is a lousy idea.It’s regressive, burdening the poor and working class more than the rich.Federal interference with state transportation projects can raise costs, layer on regul...
Updated: 2 hours ago
Tutor looks to empower athletes in Wesley Chapel

Tutor looks to empower athletes in Wesley Chapel

Rashay Hudson operates a tutoring business in Wesley Chapel, and NaDorian Hudson has played basketball his entire life, including in college and the ABA. Now, the husband and wife duo are combining their areas of expertise with a new program for kids...
Updated: 3 hours ago
Bar builder finds solid success in Tampa

Bar builder finds solid success in Tampa

TAMPA — Ever since he was a little boy, Chris Davenport loved to build things with Legos and erector sets. As he grew older, he spent time working with his dad, a carpenter, and then took welding classes in high school. While in college studying engi...
Updated: 3 hours ago
Metro Diner brings fare to South Tampa

Metro Diner brings fare to South Tampa

Metro Diner, having already established several locations across Florida, including St. Petersburg, now brings its large portion-sized comfort food options across the bay.The local diner is slated to open Tuesday (May 29) at 4011 W Kennedy Blvd and w...
Updated: 4 hours ago
Organic eatery closes doors to Davis Island site for more space

Organic eatery closes doors to Davis Island site for more space

Tasty Roots says goodbye to its current Davis Island location on Saturday (May 26) as it closes to prepare for the opening of a new location in the heart of South Tampa at 3415 W Bay to Bay Blvd.For the last three years, locals have flocked to Tasty ...
Updated: 4 hours ago
Hooper: More than a restaurant, Lee Roy Selmon’s was a meeting place

Hooper: More than a restaurant, Lee Roy Selmon’s was a meeting place

It’s where former Tampa Bay Buccaneers quarterback Doug Williams had lunch with current Bucs quarterback Jameis Winston.It’s where University of South Florida fans often gathered to watch the program’s biggest road games.It’s where folks showed up in...
Updated: 8 hours ago
St. Petersburg City Council throws wrench into Housing Authority’s Jordan Park plans

St. Petersburg City Council throws wrench into Housing Authority’s Jordan Park plans

ST. PETERSBURG — The City Council rejected a request from the St. Petersburg Housing Authority for a letter the agency said would help it proceed with a $43 million makeover of Jordan Park.There’s also a question about whether the housing authority, ...
Published: 05/24/18
What’s bringing that new $50 million boutique hotel to Ybor City? It’s not just the local history

What’s bringing that new $50 million boutique hotel to Ybor City? It’s not just the local history

TAMPA — The historic charm of Ybor City is only part of the reason developers will break ground today on a $50 million boutique hotel on E Seventh Avenue.Two other key factors are Tampa’s larger business climate and the hospitality market in particul...
Published: 05/24/18
Two vacant lots in the ‘heart’ of St. Petersburg. Why does one look so much nicer?

Two vacant lots in the ‘heart’ of St. Petersburg. Why does one look so much nicer?

ST. PETERSBURG — When several old buildings on the 400 block of Central Avenue were demolished two years ago, the owners were required to attractively fence and landscape the property. The reason? To avoid having an unsightly vacant lot in the "heart...
Published: 05/24/18