“It’s not clear whether Bitcoin’s inventor, who disappeared from the Internet in mid-2010, was prophetic enough to imagine what happened last year. The value of Bitcoin exploded, with the price of an individual coin jumping from $100 in July to $200 in October to more than $1,000 as of this month. Economist Paul Krugman, among many other critics wearing the dour goggles of history, argued that it was little more than the latest speculative mania, no less ridiculous than the Dutch fever for tulips in the 17th century. But the miners showed up anyway. And an industry of microprocessor manufacturers has sprung up to serve them.”

http://www.businessweek.com/printer/articles/176685-the-bitcoin-mining-arms-race-heats-up

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