Bitcoin Gangsters, Useful Idiots
“I like to think of Bitcoin as something like four steps forward, three steps back,” Jeff Tucker said during our Session this week. “It seems to be this pattern and it shocks people all the time,” he continues. “This time, it even shocked me because I expected that the floor would go up all the time. Right?”
That’s the problem with the arrival of new technologies.
“Where’s the floor?” Tucker asks… Four steps forward, three steps back:
It’s extreme. And what Bitcoin does is it tests the belief of the newbies, right? I mean, first of all, it robs the newbies, and it tests the faith of the old gangsters like me. And we’re like, “Was I right or wrong about this all along?” Sometimes you wonder. But in the scheme of things, because while I was working for you, I wrote my very first article on Bitcoin when it was at $14, and then it went up. And then, after I published that article with you, it went up to $30, and everybody was accusing me of pumping the currency. Oh, like I had that power to do that. And then, it went up to $60, and I was feeling pretty good. Like, “Well, maybe I’m just a prophet here.”