Bitcoin Suffers First Crash

We’re surprised an unregulated currency managed to last this long without major problems. Bitcoin suffered its first major crash on Friday, and what a crash it was: from a Wednesday high of $266 per Bitcoin, the digital currency’s value had fallen to just $54 per coin by Friday. As the “coins” grew in prominence, more and more people entered the speculation market, aiming to get out before the inevitable crash. “Wild price swings,” said the Bitcoin Foundation’s chief scientist, “are not good for Bitcoin.” You don’t say.