Bitcoin’s value tops $1,000 for first time.
Bitcoins are a form of digital currency backed by nothing but the erratic faith its holders have in it. Now I read that they are currently worth more than $1,000 each. However, they could easily be worthless tomorrow if there is a collapse of confidence in their worth. This reminds me of the anecdote of the 17th century Dutch speculative bubble that was investing in exotic tulip bulbs. Will bitcoins survive as a thriving currency, or will people wake up and realize they are buying ones and zeros?