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Bitcoin Hits New All-time High of $32
Sabbetus writes "Bitcoin tops its previous all-time high of $31.91 and in doing so it proves to be quite a resilient virtual currency. To the supporters of Bitcoin this does not come as a surprise, since we have seen the likes of WordPress, Reddit and Mega embrace it. Recently Namecheap also confirmed that they will start accepting bitcoins. The new record price was reached on the same day that Mt. Gox, the world's largest Bitcoin exchange, reached an agreement with CoinLab to manage the exchange's operations in the U.S. and Canada."
A far cry from the end of 2011.
And a far cry from the end of 2012!
Can't stop going up, guys! I've got plenty to sell. Please buy, as I guarantee this is nowhere near the top. I'm offering mine for $32, and it's a bargain. I'm a fucking moron, so that is why I want you to have mine at this low price.
Fuck me, the captcha is economy.
I think most people are weary of being wary.
You're right. Well, I'm not so much weary of Bitcoins as I am of stories about them.
The truth is that all men having power ought to be mistrusted. James Madison
Tulip Speculator
-- January 1637
Bitcoin is literally a ponzi scheme. It takes in dollars either in cash or in electricity to generate tokens that increase in value as more suckers enter into the scam. The folks who bought in early can make money by selling to suckers down the line, until they run out of suckers and the whole thing crashes.
All they have to do is keep the sale rate below one per minute to match the birth rate of suckers, and they should be fine.
When our name is on the back of your car, we're behind you all the way!
It has been said that comedy on the internet is tragedy followed by the words "....and then I lost my bitcoins".
This price spike is just a set up for one hell of a punchline.
Excuse the Unicode crap in my posts. That's an apostrophe, and slashdot is busted.