bitcoin breakout

everyone is talking about it. everyone is asking me about it. ok, I'll address it.

"oh wow, bitcoin rose $1,000 in an hour." yes, after a long period of bitcoin settling in the 6.5k-7k range, bitcoin smashed up the charts to 7.8k. big whoop. it'll dance in the 4k range before too long. it'll dance in the 14k range. I've been known to dance myself!

always the enamored analysts these days, "bitcoin this" and "bitcoin that." "don't forget about bitcoin, everyone." "bitcoin is still here, look at how it can make you so much money." you know who won't forget about bitcoin? east coast hipsters. these young guns think they have it all figured out. "it's the future of banking. it's banking without banks." they introduce themselves to people as statisticians. it's embarrassing. I'm tired of talking about bitcoin when these are the people talking about bitcoin. amateur hour, hello. I'm tired of hearing about bitcoin. you know what happens next after a boom like this? after these ramblers spend their time talking about bitcoin? a bunch of simple dads go out and mortgage their houses and buy up as much bitcoin as they can. spoiler: they lose. big. spoiler: the pressure collapses their family. divorce. the house they had no business buying in the first place is re-possessed by the bank (who are not without fault, I might add). the kids are ripped out of school and away from their friends to go live with their aunt. the dads, knowing they are the ultimate failures, throw themselves off of condemned office buildings. I'll say this about bitcoin: snake oil.

bitcoin breakout. hah. more like if you're in bitcoin, break out of that. instead of investing in 1s and 0s maybe invest in the currency of the past, present, and future. people.

-frank