Bitcoin Rebounds To $2,600 As Gresham’s Law Looms

Read more on this subject: Bitcoin
News Story Source: http://www.zerohedge.com
Bitcoin has rebounded to $2600 this morning (after touching $2200 late yesterday, and $2760 highs yesterday) as Korean prices and US prices are converging (Korbit still trading at around $3200)

Bitcoin is trading around $2600 on US exchanges…

And $3200 on Korea's Korbit…

As Alhambra Investments' Jeffrey Snider details, Bitcoins are a remarkable bit of innovative technology. When they were first introduced quietly at the end of October 2008, nobody noticed it or the fitting timing. The design paper for the cryptocurrency was published anonymously at the very same moment the dominant global currency, the eurodollar, was undergoing its severe reckoning. The latter is in many ways like the former, since the eurodollar is not a thing just like Bitcoins. In many respects, it, too, is a cryptocurrency and as such confounds a great deal of "expert" analysis.

The price of a Bitcoin, meaning its exchange rate, has exploded more recently, though n
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