13 Apr '13, 4pm

Bitcoin virtual money draws investments, skepticism

Bitcoin virtual money draws investments, skepticism

Bitcoin has become a scorching-hot commodity among speculators. In this April 3, 2013 photo, Mike Caldwell, a 35-year-old software engineer, holds a 25 Bitcoin token at his shop in Sandy, Utah. Caldwell mints physical versions of bitcoins, cranking out homemade tokens with codes protected by tamper-proof holographic seals, a retro-futuristic kind of prepaid cash. (Photo: Rick Bowmer, AP) Story Highlights Some compare it to new gold standard, others a Ponzi scheme Winklevoss twins own about 1% of $1.3 billion market Venture capitalists are investing in bitcoin-related projects SAN FRANCISCO -- Pure gold or Fool's gold? Bitcoin, "virtual currency" that isn't recognized by any nation or bank in the world, was once dismissed as a goofy idea embraced by nerds and anti-government types. Today, it's considered either an ideal payment system for the Internet or a digital Ponzi sch...

Full article: http://www.usatoday.com/story/tech/2013/04/13/bitcoin-ope...

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