CHART OF THE DAY: Bitcoin Hits $400

Bitcoin is the virtual currency that should, maybe at least, be an alternative to mainstream currencies such as the US and Australian dollars.

But in many ways its success is also its greatest challenge to popular use.

Good news is bad news – Bitcoins price action is scary

Over the past month Bitcoin has traded in a range of 144.20 to a new high last night of 429.89. It sits at 428 this morning.

While the miners of Bitcoin and those who own it will be happy with such price appreciation, moves like this just make it hard for it to become a medium exchange in what might be called “normal” commerce.

But hey – there’s no sign the fun will stop anytime soon – Bitcoin just keeps keeping on.

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