Bitcoin has more than tripled in value since my first post on May 26. I have decided to allocate some funds here, because precious metals aren't going anywhere, at least not for a few days.
One warning for US folks. It takes many days to set up, activate, and fund the accounts necessary to purchase bitcoin. This is really frustrating when the cost is increasing at this rate.
http://bitcoinweekly.com/articles/the-battle-is-on-silk-road-vs-government-and-bitcoin-anonymity
http://themonetaryfuture.blogspot.com/2011/06/bitcoin-is-economic-singularity.html
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