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I say things on Twitter

2/2/18

I've been asked for a word on Bitcoin...

...by several people over the last 24 hours, what with its nasty dive and the ensuing blood in the crypto streets. Misery loves company? That IKN pillock loves talking about crappy things that fail? Shadenwhatnot? Therefore, three things:

1) First up never mind Bitcoin, if your idea of sound advice on anything is from a pissant blogger and this humble corner of cyberspace, then take a good, hard look in the mirror. Are you really that short of ideas to come here for solid financial guidance? My stars...

2) Anyway, apart from the one substantive post on the subject that merely pointed out that Bitcoin was not an asset class (and anyone telling you otherwise is a fool), it's not been a subject of much interest round here. I did write an intro op-ed in one of the weeklies that crunched some numbers to show that (despite the hues and cries from other corners) it was pretty obvious that the Bitcoin surge wasn't eating the gold or mining sector lunch, but that's about it. At IKN we do mining (as in real mining, not bleep bleep strings of numbers mining), we do LatAm, we occasionally do music and footy too. That's your lot.

3) That said, I did watch with mild curiosity as Bitcoin went up, the same mild curiosity as it falls back down now. However, I do the same with high-flying biotech stocks, or iron ore, or oil so I don't see why Bitcoin and the other cryptos should be of great interest just because of the latest price cave-in. I didn't care much in the mania phase and Bitcoin/crypto didn't affect my life on investments back then. Also true now, so if you want a word on Bitcoin from me, how about "lobster"?