The Bitcoin rush shows no signs of slowing down. In fact, the past three years have seen an exponential rise in the number of everyday people with the Bitcoin sign in their eyes. Stories of overnight millionaires, and cult followings of those who got in “when it was just 30 cents” remind one of the early days of the Gold Rush in the mid-1800’s. Just when I thought it was safe to venture into the crypto currency market, news reports broke about whole nations banning the major players, and states in the US like Texas shutting the door on the hopes of the little man striking it rich. In Texas, regulators say that until there’s a bank attached to the system, they will prevent the exchanges from operating in the state. Investors say that defeats the purpose. But with daily reports of theft, scamming, hacking and fake news hitting the airways and social media, investors are getting a little squeamish about the ability of the currency to withstand the rise of the regulators. The fact is, the flood gates have opened, and some $700 billion in Bitcoin cash could have a hard time flowing upstream.
Bitcoin has been on my radar for some time now. I remember the first time I saw someone pay with Bitcoin. I had already admired the model and wanted to know more about things like mining, Satoshi, currency exchanges, and had even looked for a local meet up. The guy was dressed in impeccable fashion and flashed a device that rang up his latte and morning paper and continued on his way. Next, the guy at the post office said the day is fast approaching when the money order I had just paid for would be obsolete. Instead, I’d send money to and from Europe for just pennies, and it would be faster and just as secure. That may be, but right now, I want to look as good as the guy in the coffee shop, and for that I only have to search Groupon for a christopher and banks coupon. I can use one to purchase stylish good looks for women my size, and to give as gifts this Valentine’s Day. And just like the guy in the coffee shop, I only have to tap the app on my phone, enter the code, and the price for my items drops faster than a wallet full of Bitcoin. I’m going to wait before jumping in. The money might not last as long as predicted with all the impending regulation planned. But I know my clothes from C J Banks will last for years.