Thursday, December 05, 2013

Bitcoin in retrospect...

It may "crash" again but the overall cycle and trajectory is up because there is ultimately real value in escaping (to some extent) what central bankers have been doing with their own largely virtual/digital currencies by means of another virtual/digital store of value. 

People like to say that it's a tulip bubble but what if dollars and the central banker's ponzi is more like a tulip bubble? 

To some extent, I don't care if the value of Bitcoin fluctuates because for me it's:  "Target, banksters."  Although I do care in the sense that wild fluctuations may result in Bitcoin failing to be integrated in economies more than it already has been.  But some pretty wild fluctuations haven't stopped it yet.   

Anyway, kind of ironic that a lot of people keep saying that Bitcoin is a ponzi scheme just like the oligarchs' and banksters' virtual currencies that they've already been incorporated in using, which just goes to show that a lot of people are utterly clueless.


Bitcoin may be in a bubble now* but if anything is like the proverbial tulip bubble, it's the stock market.

*I actually doubt that, given how fast it's being integrated into economies anywhere from China to Afghanistan.  So if it crashes again, my interpretation would be that it's undervalued.

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