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Over the last few weeks the hype around everyoneís favorite distributed cryptographic currency has gone insane. Itís a Ponzi scheme; no, itís the first instance of the third era of currency; no, it will spiral up and down forever; no, itís the new venture-capital frontier; no, itís an existential threat to the modern state.
No, possibly, conceivably, maybe, and no. But: I realized this week that Bitcoin actually is a really big deal ó in a way thatís been almost entirely obscured by all the hype.
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