Bitcoin approaching new all time high again

Maybe 1 out of a thousand readers on this site are going to understand how true this is, what it means, and how to take advantage of it.

https://www.investopedia.com/terms/d/dutch_tulip_bulb_market_bubble.asp

I am pretty sure that its only a matter of time before I can unload my inherited position at maximum profit.

After having bought it for $200. This was back in 2013.

I just couldn't see how it could sustain itself over $1,000 and I really needed that new car. Having said that. The car is now worn out. But I sure could make use of $1.2m right about now.

My skepticism is starting to wear now. I see the big banks and institutions jumping in. At least one country has made it an official legal tender.

Maybe this really is a new technology paradigm. Maybe not.

I just know I wish I had that $1.2m

I don't think there's any good in bitcoin.

investments? Or is it that gambling is unethical and since Bitcoin is basically gambling, then it is unethical?

So dabbling in a little unethical math (bitcoin) evens things out.

complex supply chain, especially during that time.

BTC is fungible, is durable (ie it's value is not subject to physical deterioration) and is redeemable globally within an extremely short time frame without physical movement.

The tulip analogy is thus fatally flawed at multiple points.

A whole working farm, for a certain tulp bulb?

advantage of the vast amount of people that put there money into "hot people" or those that like to simply gamble. Obviously there is the element of money-laundering but in reality BC is no different that other currencies - If you have faith in it, and it is legal tender for goods and services, it is just another currency.

I don't get the social media celebs so I cannot understand most of the crypto movement. I imagine some will prosper and some will lose - only time will tell.

I really don't care.....

Real currencies are backed up by the full faith and credit of the social entities that back them.

Guys like Alexander Hamilton and Benjamin Franklin, and later John Maynard Keynes, understood what money is.

It was intended from the beginning to be NOT associated with any country.

Using it as money is equally foolish.

Gold does have uses, for example, as an electrical conductor or for making pretty jewelry.

Bitcoins on the other hand are essentially numbers having certain predefined properties and are not useful for either purpose.

If I owned pi I might be the richest guy on earth.

I suspect bitcoin was engineered as an obfuscated chain-letter-pyramid scheme, possibly with ill-intentions , maybe as a joke.

But it's still all over China.

I think something get's lost in the translation of their ban vs out ban.