See -- Tony -- I don't know that you actually get what I'm trying to say about Bitcoin.
Here it is in a nutshell...
Bitcoin (whomever or whatever that is) didn't come out a month ago and make an announcement that their currency is now accepted at Bank of America... or at Wal Mart... Nor did they come out and say they've just backed the currency by purchasing half a gazilion dollars of Titanium (or gold or silver)... YET! The price has quadrupled. For no apparent reason than what? Because there are more and more people such as yourself buying into it? Or was there some government that said Hey! We're dropping out of the Eurozone and we're now using Bitcoin as our domestic currency.
None of that happened.
The only "news" is that the meteoric price of a new digital currency had gone bananas.... drawing in more people to play... thus pushing the price up. That's it. Nothing more.
A guy buys 1,000 dollars worth --- next thing you know it's "worth" 3,000 dollars so he buy another 2,000 worth... and that doubles -- so now he's got 10,000 dollars worth.... and he's telling everyone he knows about all the money he's made.
You know when I quit day trading Intel - Microsoft and Dell? When I'd go to the grocery store and the clerks were telling me how much they made day trading "dot whatever". You know why I didn't flip houses with a couple buddies of mine? Because my SON was convinced that he could do it and make zillions in just a matter of weeks.
You know why I just spent a tidy sum rebuilding my Sister and brother in laws Camaro? Because they bet the farm - including money they didn't have by signing as guarantors on notes for my nephew to buy and flip houses. The first couple times went pretty good.... and now they rent a house.
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