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Bitcoin Nears $6,000 For the First Time (bloomberg.com)
Bitcoin closed in on another milestone Friday, as the digital currency approached $6,000 for the first time to put its gain in 2017 to above 500 percent. From a report: The push higher comes just three days after bitcoin suffered its biggest one-day drop in a month on rising concern that regulators are increasingly targeting digital currencies. It's added almost $500 in value in the past two days alone.
Yeah, I was too smart for all of this.
We downloaded it right after it first appeared on the net to play with it. Shared computing was just becoming a thing, with folding at home. So we installed in on a couple of machines to see what it was. After playing around with it for a couple of weeks, I had 1 bitcoin and my lead developer had three. I thought it was interesting, but essentially pointless and deleted it. My buddy kept playing around and eventually amassed 7 whole bitcoins.
They were valued at about 50 cents, theoretically, when we started. They spiked to $7 in a really short time, then back down to a buck. When they went back up over two bucks, my buddy sold out. He's no fool. We both knew a bubble scam when we saw it.