The main purpose of this blog is to catalog and store all of the overwhelming, but important, info I’m coming across as I learn more about the coin. I’ll also do a bit of commentary for my coining buddies but I have no plans of yet on promoting this blog, monetizing it, nor doing anything at all that will let my aggressive uncle (you know, Sam) know my identity. Make no mistake, one day Sam is going to to be very unhappy that I’ve been helping out the coin so much and want to punish me for it. So like Bitcoin itself, I’ll remain an anonymous character online.
So far to date, I’ve only been an investor in BTC. I’ve advocated for it a bit on the web, but my claim to fame here is that I bought some at $3 after the 2011 crash. (Of course I’m already kicking myself that I didn’t buy a whole lot more!)
Right now, March 4th, 2012, the Bitcoin is at $36.48 on MtGox. This is an all-time high and there are many good reasons why it’s pushing up and up ever more:
- The cost of mining is getting cheaper due to the new flood of ASIC mining rigs.
- The USD is becoming a joke at an exponential rate.
- We’ve passes the previous highs of 2011.
- New inventions and services almost daily hit the web that make using BTC easier.
In this environment, and especially at this time of ASIC mining rigs hitting the market, I knew I could wait no longer to dive in headlong. Where will it stop? $100? $1000? No one knows. But like Stephan Molyneux suggested in this video, all bitcoin needs to do is capture 1% of the trade in the USA for each individual bitcoin to be worth thousands and thousands of dollars.
The time is right and I’m going for it. & You’re coming along with me.