Tag: Bitcoin

My Bitcoin Empire is Now Valued at a Whopping $16 Dollars

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Yahoo – Bitcoin retreated once again Monday to kick off a fresh week of losses after the cryptocurrency suffered its biggest weekly decline since January.

Historically, the roughly 80% drop from its December high also now marks the third largest decline in bitcoin’s decade-long existence. Only the 93% collapse in 2011 and the 84% decline from 2013 to 2015 in the wake of the Mt. Gox exchange hacking dwarf the pain crypto investors have suffered this year…According to Travis Kling, chief investment officer at crypto hedge fund Ikigai, between renewed pressure from the Securities and Exchange Commission and concerns stemming from the recent bitcoin cash fork, a “death spiral situation” could spill over into 2019.

Death spiral? Don’t like the sound of that.

Have no fear my fellow Bitcoin enthusiasts because as the famed Harvey Dent once put it, the night is darkest just before the dawn. I mean the value of Bitcoin has only dropped 80% in the last year, that’s not THAT bad. Right? Hey, even Amazon lost 95% of its value during the dot com bubble burst and they’re doing pretty OK these days.

Papa G came to his senses and jumped off this ship long ago, but as I’ve blogged before I feel like George Costanza after he told Jerry to hold his stock. Granted I wrote that in September when we were at $6K per Bitcoin and now here we are in November anddd things have been better.

As Tony Robbins once said “If you don’t sell, you don’t lose money,” says Robbins. “Every single bear market has turned into a bull market.”

We will come back from this and we will be paying our bills with imaginary money before you know it!

I never understood why people were scared off from Bitcoin because it’s not “real” money. I pay for things exclusively with fake money in the form of a debit card. Doesn’t matter if its a $1,200 computer or a candy bar. Swipe swipe. I haven’t touched real, physical money in months. Hell I just got a Venmo card so you can send me imaginary money that I can then immediately pay with using my physical card.

So you see, its not a matter of if, its a matter of how much should I invest when I double down on Bitcoin?

Walmart is Now Selling Bitcoin for $1….Soo What’s the Catch?

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Techcrunch – Walmart is now selling bitcoin for $1. But in a new spin on the volatile and ever-changing world of cryptocurrency, this digital currency is made of chocolate. Frankford bitcoins, are 1.42 ounces of milk chocolate wrapped in gold-colored foil made by Frankford Candy. They’re reminiscent of the regular old foil-wrapped milk chocolate coins of yesteryear. But of course, entirely different because they’re called bitcoin.

Walmart is now selling *chocolate* Bitcoin for $1. Chocolate being the key word here. Don’t think for a minute some dude isn’t going to throw a nutty when he thinks he found the greatest investment since 7-Minute Abs, only to realize his new fortune is melting in his pocket. People are dumb. People will 100% buy this thinking it’s real Bitcoin.

Ironically enough, its really not that much cheaper than actual Bitcoin these days. Back in the wild wild west of 2017, Papa G and I chased that wave. We both put some hard earned American dollars into Bitcoin hoping to cash in on an early investment. Welp, Bitcoin has plummeted from its heyday of about $20,000 per coin to about $6,000 per coin now. Or if you’re counting at home, about a 75% loss on my initial investment. Thats called ROI folks.

Papa G was smart enough to jump off a sinking ship, but I decided lets roll with it and maybe we’ll catch the next upswing. I’m holding out hope that I get to be George Costanza when he held his money in a secret stock and made a killing after Jerry dumped his shares too early.

Ever hear of a robot butcher?