Remember Bitcoin?

I seriously hadn’t thought of this “currency” for ages, but this article (which notes that Bitcoin was the worst performing currency in the world, even worse than the Russian ruble) reminded me of it. The hype around bitcoin a year ago was absolutely comic, and even here in Palo Alto, there’s still only one place (Coupa Cafe coffee house) that accepts bitcoin…I suppose as some kind of gimmick. Anyway, put a fork in it. This thing is toast.

1229-bitcoin

 

This blog is not, and have never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural ...

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VIX Trader 9 years ago Member's comment

Tim, your resume is certainly impressive but any chart that isn't on a log scale shows a skewed picture. I'd expect you of all people would know this given your background. Try your same assessment of bitcoin with a longer chart duration (say late 2011 to present) with a log scale and you might have a different opinion...

Vintage Vixen 9 years ago Member's comment

Several cities/towns in the Tampa Bay (Florida) area have been pushing hard to get Bitcoin accepted for use because of the Bitcoin Bowl, a college bowl game just held in St. Petersburg. I gather the actual sponsor was BitPay. Madeira Beach Florida was actually pushing to become 'the world's first Bitcoin city' by trying to get 80% of its merchants to accept Bitcoin. It worried me a lot to see all these merchants on TV saying how great the processing is and how it saves them money. They seemed to have no clue!