‘Bitcoin’s crash hurts the latecomers once again’ – MarketWatch | $10,695.37

Bitcoin has no intrinsic value as an asset. Never had. It yields no cash, generates no income and serves no useful legal purpose.

It is most useful for money-laundering. If you need to get your money out of the country, fast, bitcoin is a pretty good way to do it.

I road-tested it back in the Big Bitcoin Bubble of December 2017, buying bitcoin from a machine in London, England, with pounds sterling, then using them online to buy a gold krugerrand in the U.S. for delivery to my office. It worked pretty well.

You could probably use bitcoin to bribe your kid’s way into college, though I suspect gold coins would be better.

Eulogy made by Brett Arends


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