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As I write this, BTC is trading on Mt.Gox at $433, down from today's high of $446 but still up $60 from 48 hours ago. BTC is the very stuff of conspiracy theories--springing into existence in 2010, the creation of the mysterious individual or group known only as Satoshi Nakamoto, who gifted BTC to the world before promptly disappearing months later.
According to blockchain.info there is approximately 11956300 BTC in circulation which is worth about $5,224,903,100 at current prices. BTC/USD rates roughly doubled between 10/3 and 11/4 and then again by 11/13.
A lot of stealth bit coin mining is occurring as well.
Like Malware that turns your PC into a Bitcoin miner for some shady group...
This is getting scary...
In testimony prepared for the hearing before the SenateHomeland Security and Government Affairs Committee, federal law-enforcement agencies said that while the anonymity and decentralized nature of some virtual currencies could pave the way for fraud, they also held potential benefits.
reply to post by theantediluvian
Totdays high is now $900. Its gone up about $300 in a single day.
Its a Ponzi scheme, to get people to buy in then they will crash its value.