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aper 
signed by Satoshi Nakamoto -- likely a pseudonym -- and the coins 
made their online debut in 2009. How the coins are created, how 
the transactions are authenticated and how the whole system manages to power 
forward with no central bank, no financial regulator and a user base 
of wily hackers all comes down to computing power and savoir faire.Or, 
as Nicholas Colas, chief market strategist for the ConvergEx Group, describes 
it: "genius on so many levels."The linchpin of the system is a 
network of "miners" -- high-end computer users who supply the Bitcoin network 
with the processing power needed to maintain a transparent, running tally 
of all transactions. The tally is one of the most important ways 
in which the system prevents fraud, and the miners are rewarded for 
supporting the system with an occasional helping of brand-new bitcoins.Those 
bitcoins have become a dangerously hot commodity in the past few days.Rising 
from roughly $13 at the beginning of the year, the price of 
a single bitcoin blasted through the $100 barrier last week, according to 
Mt. Gox, a site where users can swap bitcoins for more traditional 
currencies.On Tuesday, the price of a single bitcoin had topped $200. On 
Wednesday, it hit $266 before a flash crash dragged it back down 
to just over $100. By Thursday, bitcoins were trading for around $150.The 
rebel currency may seem unstable, but then so do some of its 
more traditional counterparts. Some say Bitcoin got 
rhetoric and confirmed that this will only serve to further isolate the 
DPRK," the final communique said, using the acronym for North Korea's official 
name, the Democratic People's Republic of Korea. "They urged the DPRK to 
engage in credible and authentic multilateral talks on denuclearization."In 
recent weeks, Washington and Beijing have cooperated on new sanctions against 
the North and both have decried the increasing threats from Kim Jong 
Un's government, which have expanded to include talk of a nuclear strike 
against the United States. It is not believed to have such capacity, 
but the provocative rhetoric has officials around the world extremely worried.At 
the State Department meeting after North Korea's Feb. 12 nuclear test, different 
ideas for how to bring about a new assertiveness from Beijing were 
tossed around, according to the senior U.S. official, who wasn't authorized 
to speak publicly about the meeting and demanded anonymity.One approach 
could be described best as the power of persuasion: Make the case 
to Chinese authorities, offered many times previously, that both the U.S. 
and China share a common interest in ensuring a stable Korean Peninsula, 
without the threat of nuclear war in the Asia-Pacific.The other approach 
is more akin to the power of example: Show the Chinese what 
it means if they cannot control the North's behavior by beefing up 
U.S. defenses and sending more American military assets right into China's 
backya
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