I don't pretend to understand Bitcoin and I certainly don't understand why investors and hedge funds are falling over themselves to invest in something so essentially ephemeral. I know a bubble when I see one, and this can't end well.
But we now have a clear sign that the party will soon be over: the Bank of Canada has published a research paper suggesting that it may start to look at setting up a cryptocurrency of its own. If the regulators are showing up at the door, it's surely a sign for the speculators to move on to the next shindig.
UPDATE, December 4: And it's not just Canada that wants in. Now Venezuela is talking of setting up a cryptocurrency.
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