01 Apr '13, 3pm

Bitcoin Is The Perfect Asset Bubble -- Prices Could Go Vastly Higher From Here

If you're like most people, you have probably been hearing a lot about "Bitcoin" recently. And, if you're like most people, you probably do not know what it is or what the fuss is all about. Here's a snapshot. Bitcoin is an electronic currency --a new form of money. It's also, possibly, the next great asset bubble. (Or investment, depending on how the story ends. Or both, depending on when you get in and get out.) Bitcoins take the form of strings of numbers that can be electronically owned by and transferred among individuals and organizations. For now, the currency is primarily used for payments by fringe retailers or illegal transactions , but it is being accepted more and more widely. And organizations that exchange Bitcoins for standard currency are now being approved to operate as banks. The premise and promise of Bitcoin--the part that appeals to folks who don't hap...

Full article: http://www.businessinsider.com/bitcoin-is-the-perfect-bub...

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