Friday, April 12, 2013

Bitcoin bursts: Cybercurrency gets wild ride | Business & Technology | The Seattle Times

More fun with Bitcoin; also see Yes, Bitcoin is volatile. But it’s still got defenders (The Washington Post)
"Bitcoin’s dramatic collapse — from peak to trough, the currency shed more than 80 percent of its value — has left many enthusiasts anxious and many skeptics saying, “I told you so.”
“Trading tulips in real time,” is how longtime UBS stockbroker Art Cashin described Bitcoin’s vertiginous rise, comparing it to the now-unfathomable craze that saw 17th-century Dutch speculators trade spectacular sums of money for a single flower bulb.
“It is rare that we get to see a bubblelike phenomenon trade tick for tick in real time,” he said in a recent note to clients."
Bitcoin bursts: Cybercurrency gets wild ride | Business & Technology | The Seattle Times

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