Interesting piece on the Guardian about the demise of the crypto-currency, or at least its value.
The value of Bitcoins … has plummeted across exchanges – to a level where it costs more to “mine” them than they are worth.
…part of the problem seems to be precisely what economists remarked on when its value began to spike as more and more people piled in: the appreciation in value was a speculative bubble, caused by people hoarding the currency, rather than the start of a new (or parallel) economy.
Previous post about Bitcoin over here.