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A tiny bit more on bitcoin. And please don’t pinch yourself

Everyone and their uncle is investing in crytocurrencies, like bitcoin. And (I kid you not) the 122 other crytocurrencies.

This is not a value play like buying a building, where you can figure the value of the building from the net cash flow.

This is a “value” play because:

+ More and more people are using bitcoin everyday.

+ There’s only a limited bitcoins in the world. And there will only be a limited number — 21 million, allegedly — ever.

The “big” plus is that bitcoin (and the others) can’t be messed up by governments. The big negative is that it can’t be protected by governments, either. Think FDIC.

Bitcoins are mined (i.e. created) by people with big data centers. Venture capitalists and hedge funds are throwing money at crytocurrencies for the same reason I’m interested:

It’s a different asset class. It’s not real estate. It’s not stocks. And it’s not bonds.

The first people who got into bitcoin as an investment were gold bugs.

If you buy a million dollars of bitcoin on day one and a week later want it back (along with your mega-profits), you may be up a creek without a paddle. Some places limit you to $25,000 a day in U.S.  dollars.

The only thing I’ve learned in 20 years of investing — the 20 after I sold the business — is that every investment has a “gotcha.” You may not find out the gotcha for years. But there’s always a gotcha.

Rewards come from studying.

Start with this 374-page book. Paul Vigna is a markets reporter for the Wall Street Journal. And Michael Casey is a senior adviser for the Digital Currency Initiative at the MIT Media Lab.

AgeofCryptoCurrency
Only $10 at Amazon. Buy it here. I don’t make a commission on the sale of the book. But everybody else in bitcoin seems to.

I may still sneak some money into bitcoin. But I’m in my learning phase.

Meantime, I don’t even want to look at the stockmarket, for fear I’ll pinch myself and wake up.

If you ride a bicycle you will enjoy this:

RedBull

It’s called the Red Bull hardline. And it gives insanity a whole new meaning, but fun to watch courtesy a GoPro camera. Click here.

Why do I think this is funny?

From Business Insider:

Amazon’s bookstores are generating almost no revenue. There are a few reasons why including the fact that there aren’t that many of them yet.

Cheaper iPhone

I’m told it’s megabucks cheaper to get Apple to replace the old slow battery in your present iPhone with a new one than to buy a new iPhone.

IKEA is great for children
This is the CIRKUSTÄLT. Children love crawling inside it. It costs $19.95. Hard to find a bigger bargain anywhere. Click here.
IKEATent
They also have an amazing collection of soft toys. Sample:

panda
Click here. Check out the wireless chargers. Click here. 

Zara is great for kids clothes.  This hoodie sweatshirt is 83% cotton.

MickeyMouseSweatshirt

$22.90. Click here.

HarryNewton
Harry Newton, who has just spent three glorious days with these two joys, Eleanor and Peter. Tonight we go trick or treating. I’m dressing up as an exhausted grandfather, which I am.

Chldren.

  • gerryb

    Beautiful children! They must bring you great joy.

    • JimBobToo

      Ditto!