The BitCoin topic arose on yesterday's episode of No Agenda.

I thought I had 300 BTC in my 'wallet', to which co-host John C Dvorak exclaimed that represented almost $9000 US Dollars at the current exchange rate.

Thus the great BitCoin debate starts again, albeit only in my mind perhaps.

In May of 2011 I wrote about and experimented with the virtual currency and was able to receive sufficient BTC's in return for producing an episode of my other long running podcast "The Daily Source Code" for which in turn I was able to use the bitcoins I received to purchase several 'real-world' goods. Specifically shampoo and coffee.

After that initial experiment, I was unable to motivate enough listeners to send BTC's for another episode and I stopped caring about the virtual gold.

Bitcoin can be traded for other currencies on exchanges, which also maintain historical charts. I was surprised to see that the BTC/USD ratio is in the same all-time high range as it was back in 2011 not long after my experiment.

Please note the crash around June 2011.

Is it just a coincidence that the Bitcoing topic has popped onto my radar again? Is it perhaps some form of market hype that will result in another crash?

Or are we seeing the actual inflation of fiat currency such as he US Dollar that is not being reported in official documentation?

Technical analysis suggests now would be a good time to sell a major portion of my BTC holdings, which, as it turns out is 134 BTC, not the 300 I thought I had.

Or, do I gamble like this stuff really is equal to gold, and double down, betting that the hidden inflation of the US Dollar will only increase, making my BTC holdings even more valuable over time?

I like a third option best:

Lets do another value4value experiment. Send me a bitcoin. In return I will produce another 3 hour episode of the Daily Source Code and will hold onto all my BTC's. If inflation keeps up, I could buy a house!

Lawyers charge $400 an hour these days. Although I think my skills are equally as valuable, in the name of science, I will peg my services at $300.

So all I need is 30 BTC to start producing the three hour show.

I will report on a running total as I receive them.

My BTC address is: 1K9zgjrjWq17LD7uSMvziTjtnHQ6Un69av

 2/22/2013; 2:37:10 PM.   .