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finway (OP)
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March 07, 2013, 07:41:33 AM
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I was at a technology conference earlier this week, and the most popular topic of casual conversation was Bitcoin, the electronic currency invented and unleashed a few years ago.

Interestingly, the conversation started before Bitcoin prices went bananas earlier this week.

During dinner on Sunday night, Bitcoins were worth about $35 apiece.

By the time the conference ended this morning, they had hit $49.

That meant that one of the folks who extolled the virtues of Bitcoin to me at dinner on Sunday had booked an electronic profit of 40% on his Bitcoins in three days.
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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March 07, 2013, 07:05:16 PM
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Not bad, but lol:

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According to this chart below, though, the value of Bitcoins has now crashed all the way back to $34, so the profit was shortlived. It was presumably nice while it lasted, however.
It is 42 now  Cheesy

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