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.
Are banks trying to send credit-card-processing fee-gougers Visa, MasterCard et al. the way of Friendster?
$714 billion have gone up in smoke.
Of the seven biggest, six have plunged by 78% to 92%. And there are now nearly 2,000 of them.
Go find someone else to regulate them.