Bitcoin beats hryvnia, rouble as the worst currency

IT HAS been a bad year for the Russian rouble and a terrible 12 months for the Ukrainian hryvnia. But it has been a catastrophic 2014 for bitcoin, the virtual currency. While acknowledging that my currency forecasting prowess means that I am driving a desk rather than tanning on a beach, the gyrations do seem to offer some valuable lessons.

Bitcoin is second only to gold on the li…