Perry Glasser

BITCOIN REDUX

In Business, Economics, Finance, Personal Finance on February 25, 2014 at 12:41 pm
Better Bitcoins

Better Bitcoins

Well, that didn’t take long.

Just days ago, Dollar$ predicted the imminent demise of Bitcoin, a death to be caused by the Last Fool, and here it is, even sooner than expected. Mt. Gox is now gone, perhaps sunk forever.

Stabbing at your keyboard will not bring back a website gone dark. The money is gone.

The salient point?  A pump and dump operation for an imaginary currency can’t last a real long time. Billions of dollars have vanished with Mt. Gox.

Mountains usually do not sink; perhaps it was a mirage.

You may as well have invested in Monopoly money.

Sorry for you, really.  Keep in mind the adage: If it seems to good to be true, it probably is false.

 

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