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I Can Be Broke In The Standard Currency, Thank You Very Much
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Like the dollar and many other currencies, the bitcoin is worth what the market says it is, and isn't based on a precious metal standard. Unlike the dollar, it's not backed by the full faith and credit of a massive government economy. So, when one of the largest bitcoin exchanges disappears, the money in it is, well, not money. And the whole bitcoin thing seemed very sketchy to me, with the value being driven up by speculators but the actual value of the investment questionable. Hope you didn't get burned. (AP via Palm Beach Post)
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