Internet and e-mail policy and practice
including Notes on Internet E-mail


2012
Months
Sep

Click the comments link on any story to see comments or add your own.


Subscribe to this blog


RSS feed

Add to My Yahoo!

Subscribe with Bloglines


[Valid RSS]

Home :: Money


04 Sep 2012

Bitcoin grows up Money

Bitcoin is still the Net's favorite virtual currency, particularly for people who believe that the gold standard was a good idea. I see that Bitcoin has recently achieved sufficient critical mass to support a classic Ponzi scheme, a guy who promised absurd rates of interest, 7% per week to his "investors", then disappeared with 500,000 of other people's Bitcoins. At the current price of about $10/bitcoin, that's nominally $5 million, but Bitcoin markets are so thin that in practice it's worth a lot less unless he trickles them out over many months.

Given the general level of financial sophistication of Bitcoin users, the real question is why it hasn't happened sooner.


posted at: 03:53 :: permanent link to this entry :: 0 comments
posted at: 03:53 :: permanent link to this entry :: 0 comments

comments...        (Jump to the end to add your own comment)

Add your comment...

Note: all comments require an email address to send a confirmation to verify that it was posted by a person and not a spambot. The comment won't be visible until you click the link in the confirmation. Unless you check the box below, which almost nobody does, your email won't be displayed, and I won't use it for other purposes.

 
Name:
Email: you@wherever (required, for confirmation)
Title: (optional)
Comments:
Show my Email address
Save my Name and Email for next time

Topics


My other sites

Who is this guy?

Airline ticket info

Taughannock Networks

Other blogs

CAUCE
CASL Comes into Force
82 days ago

A keen grasp of the obvious
Progress in e-mail
4 days ago

Related sites

Coalition Against Unsolicited Commercial E-mail

Network Abuse Clearinghouse



© 2005-2014 John R. Levine.
CAN SPAM address harvesting notice: the operator of this website will not give, sell, or otherwise transfer addresses maintained by this website to any other party for the purposes of initiating, or enabling others to initiate, electronic mail messages.