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Over the last couple of weeks, everybody already been weighing in about Bitcoin, the digital currency that may be the money of the future, or a bubble bursting right in front of us. After being worth only $30 in March, on Wednesday, Bitcoin reached an historical high of $266, then plummeting to be able to over $100 utilizing some hours, and now stabilizing around $120. When Bitcoin's price started to increase unexpectedly, it was crowned the one thing everybody in Silicon Valley was talking with regards to. (For those who don't know what Bitcoin is, this video explains it perfectly in 3 minutes).
The extreme volatility on Wednesday cooled a involving people off, prompting some to call Bitcoin a bubble prepared to burst, and caution everyone about taking it too seriously. However, the Miami Times reported that advanced investors for instance the Winklevoss twins procured Bitcoin.
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JK: Do not see it so much as a bubble, but rather an extended period of volatility. You are going see points where depending jumps up and bumps down, I don't see value exploding, it's extremely volatile because it is extremely new, and some people are jumping on it too readily. Some others who got into it early are cashing out right next. I think the price is in order to change often over the subsequent 6 months and ten years. Right now there are I consider 500 merchants accepting bitcoins through Bitpay, you could rent hotels with bitcoins, and informed people are accepting it as being a form of payment. Wordpress is the 25th most useful site on earth and they accept bitcoins.
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