IT’S either the biggest fraud in financial history or the biggest
revolution in human civilisation. In a few years, it will either trade for
peanuts or, as one estimate puts it, sell for $100,000, that is, seven times
its present worth. It can be a boon or bane, caught in a cycle of a boom or
bubble. The saga of bitcoin, one of the unregulated crypto-currencies in
circulation, is unfolding bit by bit, through volatile ups and downs and by
additions and subtractions of zeroes. The year 2017, however, was a magical and
dream-like year for bitcoin. In the first week of January its worth hovered
just about $800.
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