In yesterday’s post I talked about my experience of setting up a Bitcoin account, and in exchange for doing so, receiving .004207 of Bitcoin, the equivalent of $1.00, from Coinbase.
I suggested you may want to do the same, but my guess is many of you did not.
And that may turn out to be one of the biggest mistakes you’ve ever made.
You see, the Bitcoin community has been waiting for some type of seminal moment, something along the lines of Apple or Amazon announcing that they would use Bitcoin as a form of payment. Until that happens, Bitcoin is just be something computer geeks and anarchists use.
Well, that seminal moment has arrived, and who knew it would be yours truly acquiring my first bitcoin.
You see, today, the value of Bitcoin has gone up almost 8% – in just one day! My bitcoin account is now worth almost $1.07.
You may think that’s nothing, but by using the magic of compounding, if that sort of increase happens every day for a year, then my account will be worth over $227 million! (for the type of reader who likes the details, that assumes 250 bitcoin trading days in a year, with a daily growth rate of 8%).
I’ve always had a feeling that my every move online is being watched, and I think today’s spike in the value of Bitcoin confirms that belief. Those “spies” must have thought that If Jim Borden, with all of his Twitter followers is buying bitcoin, we better act now to get in on the ground floor. (latest Twitter update).
So I’m not bothered by the fact that Big Brother is tracking me; my only disappointment is with my blog readers. No one signed up for a Coinbase account through the link I provided:
Doing so would have doubled the value of my account to over $450 million in one year. Oh well, I’ll just have to learn to live within my means.
So tonight it’s time to head out to the local Barnes & Noble and buy the latest copy of the Robb Report. I’ll also have to retrieve today’s Wall Street Journal from the trash and for the first time ever look at the million dollar houses listed for sale without making some snide remark like “Who would ever want to live in a place that big?” (I would, actually). There’s also a Ferrari dealership right down the street from me that I may be visiting this weekend.
And not to rub it in, but this could have been your weekend too.
6 thoughts on “Who Knew I Was the Bitcoin Tipping Point”
There you go again..giving me the best laugh of the day!
I have been following the Bitcoin Saga for quite a while
( because all these little newsbites fascinate me)… The young journalists on Bloomberg TV kept a watchful eye too as they sat tall in their seats for their brighteyed interviews… but i just couldn’t find the Bitcoin wallet that would match my shoes..so i passed…have a great weekend.e
I am so happy for you….
Glad you enjoyed it. Perhaps creating a Bitcoin wallet that matches your shoes represents a business opportunity for you! 🙂
Very entertaining as always, Jim. I’m one of the ones with beady, shifty eyes sitting on the Bitcoin sidelines 😉 but I’m really excited for you. It has certainly been something to watch so far!
Hi Nydia, thanks for your comment. I agree it has been fascinating to watch what has been going on with Bitcoin. I thought setting up a Bitcoin account would be a good way to learn more about it.
May I borrow $100,000? I can wait until the end of the year.
As long as the value of Bitcoin continues to grow 8% a day, I will gladly lend you the money – at zero interest as well. 🙂
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