23 Apr '13, 12am

Will this Bitcoin stuff amount to anything more than a hill of beans?

Will this Bitcoin stuff amount to anything more than a hill of beans?

I was perusing the interwebs the other day, looking at some good ole fashion car porn – mmm, Audi R8, oh yeah, Ferrari 458 – when I came across a story about a man who bought a Porsche for three hundred Bitcoins. Three hundred of anything didn’t sound like a lot so my curiosity was certainly piqued. Reading more about the sale of the Porsche I learned that the buyer initially purchased the three hundred Bitcoins used for purchase, for $4 a piece, a total of $1200. Those same imaginary coins were valued at approximately $39,000 at the time of the sale. Now that’s a good deal. But I wondered, valued at $39,000 according to whom? How? Ah, there in lies the rub. I find the whole thing very confusing, but one common idea is now reinforced in my mind: If you sold your Porsche for some Bitcoins, you might be a moron. For those unfamiliar with the world of online currencies – aka ...

Full article: http://www.digitaltrends.com/opinion/will-this-bitcoin-st...

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