Another FBI seizure keeps bitcoin on a roller coaster ride

Bitcoin may be the next big thing after social media, but the digital currency isn’t the most stable place to park your money, thanks to ongoing seizures by law enforcement officials and regulations being imposed here and abroad to curb its usefulness to money launderers, drug dealers and tax dodgers.

After bouncing back 50 percent the last 10 days in the aftermath of the FBI’s seizure of “virtual black market” Silk Road, the value of the bitcoin sagged today after the FBI found, and seized, another $28.5 million stash believed to belong to Silk Road founder Ross Ulbricht, who is in jail, PandoDaily reports.

If bitcoin’s roller coaster ride ever comes to an end, it could catch on with the real estate industry. Rentulations, a Chicago-based provider of property management software for mom-and-pop landlords, will accept rental payments in bitcoin, and a buyer’s agent in Melbourne, Australia, is accepting commission payments in the digital currency. Source: pandodaily.com