"Bitcoins," Internet nerd libertarian monopoly money, crashes, no one surprised

[Joe Republic]

Seems that one well-known internet leftist is feeling pretty bad right now.

http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/

"These past days, I have done a lot of thinking about bitcoin that ended up with me investing all of the money I had saved and all that I can borrow into the currency. Here’s why."

When that article was posted ten years ago, 1 Bitcoin was worth $8.30.  He doesn't specify how much his total life savings were, but let's say it was $20,000.  Assuming he never bought or sold any more, his savings would now (at this particular moment) be worth around $120 million.

Deja vu, huh

When you posted this, Bitcoin had just come crashing back down from a peak of just over $19,000 in December 2017, to $8,000.

Three years later, it's now worth $50,000.

[Joe Republic]

This thread rules because it could have plausibly been posted at around 6 or 7 distinct times in the past decade. In another 6-18 months, it will be bumped again and the title will apply again.

Yes, but the snark would have more impact if it didn't keep bouncing back from each crash astronomically bigger than before.

"Ha ha, Bitcoin just went from $2 to 25¢!"

"Ha ha, Bitcoin just went from $8 to $2!"

"Ha Ha, Bitcoin just went from $30 to $8!"

"Ha ha, Bitcoin just went from $50,000 to $40,000."

[Joe Republic]

This thread is going to keep being bumped every so often (by people on either side of the issue) with "gotcha!" isn't it?