- Posted August 14, 2013 by
This iReport is part of an assignment:
Bitcoin On The Rise
Some said I was a fraud. I was a market manipulator. Some made me out to be a prankster. Some made me out to be the most vile troll. I have been credited with $1.2B in market movement to date. To be honest, I am not entirely sure why I am not an honorable mention on Bitcoin’s wiki page. I penned the article about Zimbabwe (which is still pending authorization) and the price climbed nearly $70 x 11M coins. Then I penned the article – accurately I must add! – that the US government was about to raid Mt. Gox, and the price sank nearly $90 per coin. The articles were viewed tens of thousands of times and shared across multi-social networks thousands of times. If there is a single person in this arena that has been above the fray and ahead of the pack, it’s been BitCoinSachs, and I thank all my Tweople on Twitter for realizing my contributions for better or worse.
Back to the government, it’s run by dinosaurs. Big roar, little arms. Rawr. Scary, right? They sink their teeth in and it gets real quick. However, they first need to reach us and those tiny arms simply won’t do. Realizing this, RAWR! Be scared! RAWR! The problem is, those of us who have been around the block with Bitcoin and have substantial money here are not scared. We did not flinch. We didn’t even hesitate. The response was rather swift. It was a shrug. The government basically pulled an even better version of my patented Weakhand Shakedown game where you create fear and let the stupid people sell off causing a crash so we can swoop in and buy up all the cheap coins and wait for the swing to cash out with tens of thousands of profit.
So here we are. The US gov’t and with all their power blew their load. It wasn’t impressive. It wasn’t much of a load really. Dwolla and Mt. Gox sort of had to clean some of it out of their collective hair, but it wasn’t really much. They made it more difficult to purchase Bitcoin. What happened with the price? It dropped and climbed to $100 +/- $10. It’s been eerily static, and stable. It’s almost like a currency.
What is going to happen next will defy some people’s logic. It’s going to boom again. It’s going to bubble. People need to understand that Bitcoin isn’t going anywhere. I hate to be a little esoteric about what’s next. I am not one of those people who say buy while I sell. I recently made a big purchase. A few of you may have noticed that blip. I have been made aware of some very exciting things coming down the pipeline and frankly I’d rather buy at $100 than at say $150. These startups that were funded around Christmas are closing in on the finish line. There are corporations with billions waiting. There are countries with trillions of dollars waiting. The government solidified Bitcoin. Time will likely make Bitcoin the word of the year. That feature article will jack the price $20 alone if not much higher with true national attention.
2013 was a great year for Bitcoin, but 2014 will re-write the books. Randy Pausch (of “The Last Lecture” fame) once said “Brick walls are there for a reason. The brick walls are not there to keep us out. The brick walls are there to show how badly we want something. Because the brick walls are there to stop the people who don’t want something badly enough. They are there to keep out the other people.”Getting the gains you envision is merely a test to see if you’re willing to do the extra leg work now. In the somewhat near future, the brick wall will come down. It will be flooded again, the prices will flux wildly.