Bitcoin – what the hell?

The source of many conversations these days. Bitcoin has been going crazy for the past few months, since it’s creation it has pretty much doubled every year until 2017. At the time of writing it’s at $11,200, I spoke with my sister about it only a few weeks ago and it was roughly half of that.

There are many opinions on it and not surprisingly plenty critics from the traditional banking world but given the security and lack of input from governments out-with regulators it has many positives.

You can’t use it for micro transactions, you can’t buy a can of Diet Coke or a holiday with it. You could say that you can’t really use gold to buy either of the above too though.

To me it kind of feels like the gold rush days or the early days when they struck oil. Where normal people could go out and make something happen. The difference being that there is no other use for a cryptocurrency, but I suppose that is the exact same with any currency. It doesn’t really exist apart from in our heads, that’s probably the only place it needs to exist.

The world is changing so fast in so many different ways, most of which is our perceptions of what is actually possible. It’s unseen and completely unknown, it’s risky but it’s exciting. Do we want to deny it or do we want to just buy a ticket, or as many as we can afford to lose and jump on this rollercoaster where we can’t see through the tunnel.

It seems like a bubble, but how long do bubbles usually last? Is there still time? Or are we at the cliff with a blindfold?

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