Bitcoins

Bitcoins are a form of gambling. They are reminiscent of the Dutch tulip mania. At the peak of tulip mania, in 1637-03, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble. The value of Bitcoins is based on hoping others will think they will go up. They have no value of their own. This is the ultimate bubble machine. Bitcoins are a vicious zero-sum game where the sharks eat the minnows.

~ Roedy (born:1948-02-04 age:68)