Sunday, January 4, 2015

Stuart Scott is Dead and the Price of Bitcoin has Crashed Again

Stuart Scott is dead and the price of bitcoin has crashed again.  I don’t know why I tie things like this together in my mind, but I do.  I remember when I bought my first iPhone.  I was standing in line with the other believers, waiting for our lives to be forever changed and a rush went through the crowd.  Bernie Mac was dead.  I thought to myself.  This is probably the last fact that I’ll learn through a crowd like this.  In the future, I’ll just use my iPhone.

I had no idea how right I was and I had no idea how much I would learn from my iPhone in coming years.  And not just from the phone.  From the Apps.  From Twitter and Facebook.  Little snippets of information, and suddenly you know -- that person must be dead, that person must be involved in a scandal.  All second hand, but usually true.

And so it is true that Stuart Scott is dead and the price of bitcoin has crashed again.  I didn’t know Stuart Scott and I’m not really that into Basketball, his signature sport for commentary and analysis, but there’s something about TV people, the way you let them into your life everyday, checking the score, flipping through the channels, listening to a funny highlight -- that they become real.  When we lost Robin Williams last year, everyone I know felt for him, but we never really met.  We met through his work, through his art, through what he left behind.

What have we left behind, bitcoin?  The price is down and all the holders have lost money.  I’ve lost money too.  I’m a holder.  But still the question remains, does Bitcoin have to be expensive to be useful?  Sadly the answer is simply no.  Bitcoin is useful no matter what the price.  A lot of people say there’s simply too much bitcoin being produced right now and it has to be sold to cover electricity costs, so the price is being forced down.  They’re probably right.  At least until the halvening in 2016.

But what are we gonna do about it, Bitcoiners?  Are we going to take this lying down and cover ourselves in shit?  Probably.  Remember when the price was going up like crazy and it made no sense and you just held and made money?  That’s the opposite of what’s happening today.  And it might keep happening tomorrow.  The chart people say we may be nearing a bottom and if there’s a bottom there’s a breakout and that eventually we’ve got no place to go but up, so I guess we’ll all keep holding.  That and get jobs.  We’ll probably keep holding and get jobs.  Anybody hiring?  Anyway.

End on a positive note.  It could always go lower.  That is not positive.  How about this? They’re making a fifth Rambo movie called Last Blood, Donna Douglas the actress who played Elly May Clampett on ‘Beverly Hillbillies’ is dead and it’s Michael Stipe, the lead singer of R.E.M.’s birthday.  Happy Birthday Michael!