Ah, hefty “fees” & fat “spreads.” But wasn’t the promise of bitcoin to buy stuff without using fiat currency payment systems such as PayPal?
Pump and dump just for the heck of it? Why can’t this dude just shut up? That’s what people, including the SEC, want to know.
It works until it doesn’t. Now all eyes are on housing (transcript).
It works until it doesn’t. Now all eyes are on housing.
Bitcoin was trading at $57,000 when I posted the podcast last Sunday. Now, as I’m posting the transcript of the podcast, bitcoin is trading at $46,000, which makes one of my points.
In 2012, dude offered to buy my book for 1.5 bitcoin, a “Monetary Revolution” that “doubled in 4 months.” I’d just need to hype bitcoin on my site. That’s still how it works. And big highly leveraged players with huge megaphones jumped in.
The phenomenon works – until it doesn’t. What’s astonishing is how long it works.
What’s astonishing is how long it lasts.
According to chip makers, the plunge isn’t over yet. Now hoping it won’t turn into the mess as in 2001 when the last tech bubble became the dotcom bust.
The incredibly impeccable timing of launching bitcoin futures at the very peak of the bubble.