John V. Karavitis recommends this great article on Bitcoins

4 Reasons Bitcoin Hoarders Are Screwed

Seriously, all these people with their “bug out” bags and alternative digital currency….. Isn’t EVERYONE ELSE planning the same thing? And then what?

People need to take a step back from all those zombie and end-of-the-world movies……

EDIT: The key paragraph in this article:

Think this isn’t serious? Professional Bitcoin miners are already one step ahead and have started treating the currency as more of an investment with commodity trading, as overall miners spend $17 million per day in electricity costs to mine $4.4 million worth of Bitcoin. (It also means that if Bitcoin’s value doesn’t skyrocket, more than one miner is looking at a field trip in the back of their neighborhood mafioso’s limo.)

(Understand the underlying stupidity? Some people don’t.)

About johnvkaravitis

Senior Financial Analyst: Energy, Insurance, IT consulting, Pharmaceuticals, Publishing, Real Estate
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