12 Apr '13, 12pm

Winklevoss twins back bitcoin as bubble bursts

Some say this is a result of hackers staging a DDoS (distributed denial-of-service) attack, where lots of spurious requests are sent to a website to bring it to its knees, while others say it’s a result of exponentially increasing trading activity as more people pour into the goldrush, then subsequently panic at price fluctuations and try to pull out their investment. Both are likely true. Speculating on bitcoin is just the latest in a string of online ventures for the Winkelvosses since their involvement with Facebook. They have become venture capitalists and poured investment into a shopping website called Hukkster and an online community for money managers, SumZero. But their significant investment in bitcoin will be taken by many as a sign that the bitcoin bubble bursting will prove to be just a blip on an upward trajectory. “People say it’s a Ponzi scheme, it’s a bubb...

Full article: http://www.telegraph.co.uk/technology/news/9989610/Winkle...

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