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They knew what they were doing. It's a pyramid scheme. The early adopters got their bitcoin cheap. A bunch more made money speculating. Transaction costs are prohibitive, and there will never be enough of it to be useful.

It's just as well it doesn't work, because if the libertarian nutbags got their way and enough people used it, it would be the end of tax collection.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Wed Sep 5th, 2018 at 04:46:36 PM EST
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profit taking over the prior year

Diversity is the key to economic and political evolution.
by Cat on Thu Sep 13th, 2018 at 12:24:59 PM EST
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