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Josh Brown: It Just Got Real

TedTed
in Fund Discussions
FYI: This weekend, over 100,000 new Coinbase accounts were opened, presumably by people who had an overzealous nephew at their Thanksgiving dinner on Thursday, telling tales of unbridled riches and the wholesale changing of the world that is most assuredly imminent thanks to crypto currency. According to one source, there are now more open accounts on the Coinbase platform than there are brokerage accounts at Charles Schwab (although the Schwab accounts are undoubtedly bigger, for now).

Bitcoin, having soared above $9,000 over the weekend with year-to-date gains of nearly 800%, is now officially an investor mania. Like all manias, when it turns people are going to be wiped out.
Regards,
Ted
http://thereformedbroker.com/2017/11/27/it-just-got-real/

Comments

  • beebee
    Can you use bitcoin to buy tulips?
  • CrashCrash
    Laugh. https://en.wikipedia.org/wiki/Tulip_mania
  • AnnaAnna
    bee said:

    Can you use bitcoin to buy tulips?

    No, you use bitcoins to buy tubits.
  • MarkMark
    I'm afraid to ask what a tubit is but only because it's probably better that I don't know.
  • AnnaAnna
    edited November 2017
    If bitcoins exist, tubits (digital tulips) must follow.

    Says VirualAnna to VirtualMark.
  • MikeMMikeM
    tu2bits. I know that as 25 cents, or 'a shave and a hair cut - 2 bits' for those old enough to remember the saying.
  • jerry
    I actually thought of buying 1 bitcoin about two weeks ago but I have never made an investment backed by the greater fool theory (well actually I did but that was tech stocks in 2000 and I didn't then realize the greater fool concept applied
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