Wednesday, April 10, 2013

Tucker: On Bitcoin Decline "Have fun and enjoy the ride!"

Tucker, today, trying to make a 60% decline sound normal:
As I write, people are calling the Bitcoin/dollar exchange ratio a “crash” even though the price is right now what it was four days ago. The irony is intense and hilarious.[...]

To top it off, the infrastructure behind Bitcoin is nowhere near being able to support a market that is growing at this ridiculous rate. If you wanted to buy or sell during the panic today, tough luck.[..]

For many young people, this is the first truly promising market commodity they’ve watched closely. With that comes a great deal of emotional frenzy. Most all the confusion about Bitcoin comes from the incorrect perception that this is a speculative investment, like a penny stock. It is not, or, at least, that is not the point of Bitcoin. It is a payment system in the process of evolving into a money. It is an entrepreneurial invention, somewhat like the stream engine, the railroad, steel, or email.[...]

We should all count our blessing and, most of all, have fun and enjoy the ride!


  1. Translation: "I hate bitcoins. I love gold. I dislike people who praise bitcoins over gold." - Wenzel.