22 Nov 2013 / Washington Post – The Atlantic’s Matthew O’Brien is one of the Internet’s smartest commentators on economic policy. But like a lot of economics writers, he’s been slow to appreciate the disruptive potential of Bitcoin, the Internet’s first completely open payment network. As the Atlantic‘s Matthew O’Brien wrote, “Bitcoin is a Ponzi scheme libertarians use to make money off each other—because gold wasn’t enough of one for them.” This may be changing however. That's Bitcoin, the virtual currency you can theoretically use to buy things online. See, there's a predetermined number of bitcoins that will only grow at a low rate until 2040—and then stop. Password requirements: 6 to 30 characters long; ASCII characters only (characters found on a standard US keyboard); must contain at least 4 different symbols; As you can see in the chart below, via Bitcoin Charts, the virtual currency hit an intraday high of $266 on Wednesday, promptly collapsed to $105, rebounded to $180, and then collapsed again to $120.
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