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Old 04-11-2013, 04:29 PM   #46
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Got a breath mint??

Join Date: Aug 2005
Location: Denver
Posts: 12,755

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Bitcoin really is nothing more than a speculative play.....or revenge of the nerds. Maybe if they can find a sensible way to stablize it and keep it stable, it will serve a function, but for now, it's a hackers wet dream.

Bitcoin Is No Longer a Currency
It's the ultimate dotcom stock

Bitcoin might be a bubble or it might be THE FUTURE, but there's one thing it's not: a currency. It's a tech stock. The question is whether it's or Paypal.

Bitcoin crashes, losing nearly half of its value in six hours
Plunge happens on the same day one anonymous redditor made it rain in Bitcoin.

On Wednesday afternoon, the Bitcoin bubble appears to have burst. As of this writing, its current value is around $160ódown from a high of $260. (It fell as low as $130 today.)
Though it wasn't the original intent, BTC is now a commodity. People don't spend; they hoard, hoping to cash in. Well, it looks like they cashed in.
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