http://ftalphaville.ft.com/2013/04/08/1451982/bitcult/I don't know where to begin with this one. It feels like link bait, don't give them the clicks.
The price of BitCoin soared to newly extreme levels on Monday. The Bitcult units were last seen trading at the not at all ridiculous value of $195.
<5 day chart>
But, for all the Bitcoin millionaires sweating under the pressure of greed and cash-out fear, we have only one word for you. MMM.
As Quartz reports, you may think you have it good, but the mavros that back the personality cult of Mr. Sergey Mavrodi (what you get for not having an anonymous foundation myth) are currently doubling in price every month.
That’s what you get for making your pyramid scheme explicit from the outset — rather than disguising it as a virtual currency and a social movement.
In the meantime, if you’re still struggling to understand the BitCoin phenomenon, why not try this – it’s my version for dummies.
