While the recent massive increase in Bitcoin value may make the currency look like a virtual gold rush, don’t be sucked in. The way the system works now you either need to be really rich, really idealistic, or really crazy to invest in Bitcoin.
Woooohooo! Bitcoin is scorching! It’s party time, baby! Par … tay. Seriously – have you seen the exchange rate? A grand per Bitcoin* – boom! What about John Woo, the star analyst from Bank of America Merrill Lynch – surely you heard his word from on high? It’s pure gold. And I quote: “We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers.”