Topic: Exposm does a comic on Bitcoin (Read 597 times)

LOL. Funny. Not accurate, but funny.

For the sake of accuracy...

February 2009: Bitcoin was just invented the previous month. cryptography experts are analyzing it and realizing that it solves a cryptocurrency problem that people have been trying to solve for decades. For the first time, a cryptocurrency can exchanged in a decentralized peer-to-peer way. It is no longer necessary to rely on any company or organization to be in control and act as a clearinghouse for transactions.

February 2010: Bitcoin is imaginary internet money. It isn't worth anything. Nobody is exchanging it for money, and you can't buy anything with it. Techie libertarians are sending thousands of bitcoins to each other in transactions for free because they think the concept is pretty cool.

(Mid 2010, the first recorded purchase is made using bitcoin as a payment. $25 worth of pizza is purchased for 10,000 bitcoins. This sets an initial value of 1 bitcoin for $0.002, or 500 bitcoin for $1, in people's minds)

February 2011: Bitcoin reaches "dollar parity". For the first time, 1 BTC can be exchanged for $1. Prior to February a bitcoin was never worth more than $0.50.

February 2012: 1 bitcoin can be exchanged for $6.20 ( 520% increase over the past year). $10 "invested" during Feb. 2010 would be worth at least $62.

February 2013: 1 bitcoin can be exchanged for $34.50 (3,350% increase from 2010, and 456% increase over the past year). $10 "invested" during Feb. 2011 would be worth at least $55.60. $10 "invested during Feb. 2010 would be worth at least $345.00.

February 2014: 1 bitcoin can be exchanged for at least $400 (39,900% increase from 2010, 6,352% increase from 2011, and 1,059% increase over the past year). $10 "invested" during Feb. 2013 would be worth at least $115.90. $10 "invested" during Feb. 2012 would be worth at least $645.20. $10 "invested" during Feb. 2011 would be worth at least $4,000.

The "average annualized return" since Feb. 2011 has been approximately 636.8%. If this continues this year, 1 bitcoin will be worth almost $3000 in February 2015.

Of course, it could also crash back to pre-2012 levels and then the comic strip would be very accurate.

Why would you sell at $900?  That means you could buy back even more bitcoin now at a lower price?  Don't you understand that "buy and hold" is the only smart way to do it?

Okay, this is pretty damn hilarious.

And once again, yay! More publicity!!!

This seriously may be one of my favorite Cyanide & Happiness strips in a long time.

Luckily I dumped all my BTC at 900$ buying at higher than 100$ for investment just seems crazy to me.

I lol'd

Then I cried

I lol'd