We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
It's not fair. I know two guys from my local pub, both very unsophisticated about investing who took a drunken gamble and put all their (relatively-humble) savings into Bitcoin almost a year ago. They both sold out this week.
They quit their dumb jobs and bought beers for the whole pub last night. Yes, both are single. Life in America.
To cash out of Bitcoin with $1 M this week (before taxes) means you put in about $60,000 one year ago, that reflects major balls, these guys earned their good fortune. Hopefully they held it for more than one year and are just paying capital gains. If they are paying taxes.
And yet there will come a time when the smart move will be to short Bitcoin and now that there are Bitcoin futures, there will be those who do and some will make more doing that than The News Junkie's friends made on Bitcoin.
I don't really know what bitcoin is, how to get it or trade in it or how to mine it (I assumed that was a joke but they keep talking about it so who knows). But I do know a scam when I see one, I suspect when this is over there will be a dozen or so very rich but anonymous people and a couple thousand poor and angry people. This will either be stolen from them or the bitcoin market will crash and the insiders will all cash out the day before. Get back to me after the crash and tell me what the bitcoin millionaires are doing.