For the last five years, Bitcoin critics have said that the currency is too volatile to be a practical economic tool. The usual response is something along the lines of "All aboard the rollercoaster!" because half of the appeal of Bitcoin seems to be the fluctuations.
But even by Bitcoin's normal standards, the last week -- and particularly the last 24 hours -- have been completely crazy. You can go check the current price of Bitcoin yourself -- no point writing it down since that would make this article obsolete in seconds -- but the key takeaway is that Bitcoin has jumped from about $13,000 to $17,000 in 24 hours. Something is rotten in the state of Bitcoin.
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