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Bitcoins, tulipmania and electric grid insecurity Peter Pry, opinion contributor © Getty Images Bitcoins, tulipmania and electric grid insecurity Are bitcoins, an electronic cyber currency skyrocketing in value - recently trading above $50,000 for a single bitcoin - the next big advancement toward a high-tech future? Or are bitcoins another big vulnerability for electronic civilization, already facing existential threats from nature and man? In 2013, four years after the invention of the bitcoin, the former president of the Dutch Central Bank, Nout Wellink, compared the bitcoin to the ruinous tulipmania afflicting Holland 400 years ago. Wellink said bitcoins are worse than the tulipmania. . At least then you got a tulip; now you get nothing.

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