What the bleep is happening to Bitcoin, and why? Its value hit a historic peak on Monday, October 6. A bitcoin was worth $123,857 that day. Of course since I called that a "peak" you have probably already figured out that the value has come down since. Pretty dramatically, too. On Monday, Oct. 20 that was down to $110,245. On November 6. $103,976. Then came the big drop. Before Thanksgiving, the value got as low as $86K before beginning to claw its way back up. Here's a link: Bitcoin value real time chart - Google Search In part the problem is the Federal Reserve. Bitcoin speculators want interest rates down? Why? Because higher interest rates tend to support to dollar, and Bitcoin is likely to prove the beneficiary of a flight from the dollar. If I can't get much of an income stream from just owning US bonds, I may well sell the bonds (for dollars, naturally) and then convert those dollars into the dominant cryptocurrency. This impu...
When I was young (back when 'analog clocks' were known simply as ... 'clocks') I had a tough time learning how to tell time on them. The adults around me kept saying "big hand" this and "little hand" that. Sorry: one of them was long but thin. Is that big or little? The other one was short but thick. Is that little or big? I didn't really get over this until I started narrating it to myself in more explicit terms. "The fat short one tells the hour, the long thin one tells the minute." That is still my rule as a writer -- explicitness and clarity even at the expense of concision. So everyone can understand that the photo I've included here indicate that ten minutes have passed since 10 o'clock not that fifty minutes have passed since it was 2 o'clock!