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I`m sure everyone`s heard about Bitcoins now as it`s been all over the news lately. Bitcoins have gone from around $400 to over $1000 in less than 2 months!
Bitcoin is a form of digital currency designed for anonymous use or government regulation. Think of it as basically a black market type of thing. Now, why has it been going up so fast recently? Who knows. It fluctuates every day, but they were only valued at about $12 last year around this time.
I have to wonder if people are just shuffling it around to raise the value so they can then sell it and make a ton of profit. I have a feeling there will be a bubble burst, similar to the tech burst in the early century.
Some analysts have condemned Bitcoin to fail, saying that eventually it will cost too much to buy or sell, because there is only a finite amount of them. It`s a pretty interesting thing to watch though, and I really wish I would have bought a few last year!
Ron Paul thinks that they will destroy the dollar bill. What do you guys think?