Topic: 2013-4-11 Bitcoin’s big crash: Why you must know about this digital currency (Read 770 times)
April 15, 2013, 02:08:51 AM
This was an AP article by Raphael Satter that appeared in a lot of newspapers across the country last week. Including Techland on Time:
- http://techland.time.com/2013/04/11/bitcoin-bursts-hacker-currency-gets-wild-ride/
April 14, 2013, 10:21:28 PM
http://www.firstpost.com/tech/bitcoins-big-crash-why-you-must-know-about-this-digital-currency-694772.html
Advocates describe Bitcoin as the foundation stone of a Utopian economy: no borders, no change fees, no closing hours, and no one to tell you what you can and can’t do with your money. Just days ago the total value of bitcoins in circulation hit $2 billion, up from a tiny fraction of that just last year. But late Wednesday, Bitcoin crashed, shedding more than 60 percent of its value in the space of a few hours before recouping some of its losses. Critics say the roller coaster currency movements are just another sign that Bitcoin is a bubble waiting to burst.
Advocates describe Bitcoin as the foundation stone of a Utopian economy: no borders, no change fees, no closing hours, and no one to tell you what you can and can’t do with your money. Just days ago the total value of bitcoins in circulation hit $2 billion, up from a tiny fraction of that just last year. But late Wednesday, Bitcoin crashed, shedding more than 60 percent of its value in the space of a few hours before recouping some of its losses. Critics say the roller coaster currency movements are just another sign that Bitcoin is a bubble waiting to burst.
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