10 Apr '13, 7pm

bitcoin

bitcoin

Great, now engineers think that they are economists too By Bryan Goldberg On April 10, 2013 Several months ago, one of my company’s engineers told me about Bitcoin. It wasn’t the first time that I had heard about the concept, but it was the first time that somebody I knew actually bought some. Did I say some ? What I meant to say is that he bought a crapload of Bitcoins. They were worth about $9 each when he acquired them, and he decided to drop a healthy $5,000 on his roll of digital bullion. Today, even as he has sold a small percentage, his holdings are worth close to $100,000 — a very nice return for a guy in his mid-20s. He is skeptical about selling them, but he does like the idea of buying a house. So, now that he has demonstrated a 4,000 percent IRR on his investment, I should probably concede that he was right, and that Bitcoin is the real deal… I shall — of cours...

Full article: http://pandodaily.com/2013/04/10/great-now-engineers-thin...

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