Apples To Apples To Oceans

by | Nov 11, 2014 | Bitcoin, Crypto Currency

“Bitcoin is at $1,000 – this bubble is blowing up!” Such was the chorus a year ago. Let’s take a closer look. As of this hour, there have been about 13,500,000 bitcoin mined. Let’s assume the price is $1,000 per bitcoin (it’s nowhere near that, currently, but that’s not important). 13,500,000 x $1,000 = $13.5 Billion What is the significance of $13.5 Billion? On August 19, 2004, the public got it’s chance to buy shares in Google. At the moment you and I were able to buy those shares for the first time, Google was valued at $23 Billion. On May 18, 2012, the public was able to  purchase shares of Facebook for the first time. It was already valued at $104 Billion. Earlier this year (2014), Alibaba set sail. The day the public got to participate, shares of the Alibaba raft were sold as fractions of a $230 Billion whole. Whether you refer to Bitcoin or bitcoin, to say it is an anomoly is an understatement. Every day, humanity goes about busily. Staying warm, sheltered, fed and looking after our families. If we look down, we might see insects doing basically the same things. We earn our livings in more humane ways, making us even busier. Imagine watching a video of all this activity. Add soft music playing over it. The quote, “The eye cannot see what the mind cannot comprehend” comes on the screen. We can’t blame people for not knowing of, or caring about, such a thing as Bitcoin in all that madness. We are ants, scouring the space directly in front of us. We have to find the...