Bitcoin Gives Rise to a Cryptogimmick

New technology solves a financial problem nobody had.

Bitcoin bonds, anyone?

Photographer: PHILIPPE LOPEZ/AFP/Getty Images

The technology underpinning bitcoin and other so-called digital currencies just took another baby step toward legitimacy. Sort of. Overstock.com, an online purveyor of goods ranging from jewelry to furniture that already accepts Bitcoins for purchases, is selling what its Chief Executive Officer Patrick Byrne calls the world's first cryptobond:

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