If I’m reading this chart right, Bitcoins went from a high of over 30 late last week to a low of around 10, before rebounding somewhat to their current price in the higher teens (see updated prices here). A month ago a Bitcoin was trading well under 5 — maybe around 3.
I call Tulip Bulbs.
For more on this see DailyTech – Digital Black Friday: First Bitcoin “Depression” Hits.
Previous post: Why Bitcoin Isn’t As Exciting as it May Sound.
I do not think most Floridians fully realize, and will not for some time, the full damage of what has already happened in Tallahassee. Our state’s governor and the majority of our state’s Legislature believe in exactly one thing: making money off Florida. They have repealed many of the laws that Florida passed trying to make itself a better state. We have, quite literally, propelled this state back into the 1950s, and when the economy explodes again, look out.
Fixing Florida will be fun to watch … as a fan.
I hope the St. Petersburg Times finds a comparable voice to replace Howard Troxler. Won’t be easy. Mr. Troxler got quite wonderfully shrill this past year.
httpv://youtu.be/xhCY-3XnqS0
A surprising number of people, including reporters, have been asking me what I think of Bitcoin. My reaction is to be somewhat underwhelmed, for all of its technical inventiveness. The best single account I’ve seen of why to be cautious is in this account by John Levine, Bitcoin and tulip bulbs.
As I wrote recently in reply to a Polish journalist’s emailed inquiry:
I am somewhat skeptical for three sets of reasons.
First – A coin that fluctuates in value is an investment, perhaps, but not a reliable store of value.
Second – There is a very limited number of things you can do with a Bitcoin at present. Projects like this first suffer from and then — occasionally — benefit from network effects.
Third – Although I have not studied the protocol carefully, I’m worried that an attacker with the services of a large botnet might be able to dominate the system of authentication.
This is just awesome: Richard Dreyfuss reads the iTunes EULA.
I especially like Please read. Shakespeare for our times?
Jotwell Blenderlaw
