Bitcoins

So I've heard of the Bitcoins like a long time ago,(where each bit coin was wroth probably but it wasn't popular at the time.  I should've did more research with it, since within the last two months, it has exploded.  I'm not sure what exactly sparked it.

The creator of the Bitcoin, Satoshi Nakamoto is rumored to be a collection of people and not just a person.  Ironically enough back in 2010, 10,000 BTC was worth about two pizzas ($40-$50)  Now, 10,000 BTC is worth about ~$7.5 million dollars.  Scary huh? I knew Bitcoin back when it was about $30 per BTC back in summer of 2011, then it crashed down to about $2 at the end of 2011.  That must've sucked.  However, now it's about $750 per BTC.  You can learn more about the history here.

You can check the current market and create a wallet here.

I have a few questions though for the DayKnights here.

  • What are your thoughts of this internet currency?
  • Does this bring back something similar to the gold standard?  Instead of money being backed by gold, it's being backed by the this monstrosity known as the internet.
  • Do you already have some bitcoins? If not, will you convert some or probably not.