Perry Glasser

BITCOIN DENOUEMENT

In Business, Economics, Economy, EDUCATION, Finance, Old Farts Financial Network, Personal Finance on February 28, 2014 at 2:43 pm
Mt Gox Depositors

Mt Gox Depositors

Mt Gox sought bankruptcy protection in Japan today. The Bitcoin exchange is no more.

Dollar$ wonders if Japan can supply sufficient protection from a mob of angry depositors carrying torches and pitchforks led by CEO Mark Karpeles’ mother. A half billion worth of the non-currency has vanished.

Poof!

 

20-Something Thinking

Dollar$ admits to little sympathy to the casual 20-Something investor who figured the Old Farts Financial Network needed some shaking up.  After all, everyone knows that sex traffickers, pornographers, drug dealers, and arms merchants in dire need of a traceless currency would never steal. They have financial rights, too! Bitcoin was a product that was needed!

The OFFN plainly did not understand how the internet is a network of stalwart enlightened libertarians.

The 20-Somethings also believed that profits of 1,000 percent in a year was the justified return to them for their courage, foresight, minor hygiene problems, and a steady diet of cold pizza and Red Bull while sitting in front of a computer screen.

Really, kids, you have to get out more.

They know for sure that to get wealthy in America today is a plausible idea and a hell of a marketing department.  Anyone knows that!  Just ask the good people  at WorldCom, Pets.com, Enron, Furniture.com, or any other get-rich- quick scheme the OFFN lived through in the past few decades. 

Could Boomers have all the good stuff because they worked for it? Why know anything when you can invent a brave, new world and hope to be the last fool out the door before the collapse.

Looks like it is too late, now.  bitcoin

 

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