Huge Gains in Bitbar This Week
Bitbar is a crypto currency that defines itself as a rare alternative currency for the connoisseur. Their goal is to
Bitbar is a crypto currency that defines itself as a rare alternative currency for the connoisseur. Their goal is to be a viable store of wealth for the user of digital currencies. To achieve that they focus on scarcity to improve value. They are so scarce, that at the moment, they have less units in circulation than any other competitor (only 9000 bitbars have been mined yet).
As a rare digital currency, the user base is also small which has led to limited information available about bitbars. Their developers remain anonymous and it is very hard to find news about the currency. Currently, bitbars are available for trade on two exchanges, Cryptsy and Bter.
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Even with the limited availability and exposure the currency has managed to nearly double in price in just a few days recently, from 0.05 to 0.1 BTC ($95) .
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Bitbar had a very good run on Monday and Tuesday, but it is trading slightly lower today. Nevertheless, the currency is holding at the 0.077 level, a 51% gain. There were no news for the company during this period. The rally is most likely the result of the thin float of coins as demand from just a few buyers may have triggered the current rise in prices.
Maybe their rareness did work out for them after all.
You can mine your own BitBar at btb.scrypthp.com
There’s also some psycho handing out free coins on Reddit, a new mining pool and motivated developers going ape sh*t on the code. A new website is in the works along with a strategy for sustained growth.