Monday, November 18, 2013

Good Grief :-)

A true "Vision of the Possible" :-)
Courtesy of the team @ the Business Insider:

Don't You Wish You Bought Bitcoins A Year Ago?

I'm not going to pretend to be a Bitcoin expert. We have other people at Business Insider with better insights into Bitcoing like Joe Weisenthal ("Bitcoin Is A Joke") and Henry Blodget ("Bitcoin Could Go To $1 Million"). 

From the perspective of someone just watching it from afar, all I can say is that what's happening is crazy. At the start of today, it was at $590. As of this writing it's above $700. Fad, bubble, the future of money, whatever you want to call it, that's a crazy jump in one day for anyone that's trading it. 

A year ago, Bitcoin was trading for ~$12. If you invested $1,000 in Bitcoin last year, today you'd have $58,000, which is pretty great. But, even better would have been to buy in 2010, when Bitcoin was at $0.29. It's up 1,500 in the last three years. Put differently, if you had purchased $1,000 worth of Bitcoin in 2010, you'd have $1.5 million worth of Bitcoin today. 

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