Bitcoin crash wipes out $400 billion this week, $1 trillion over the past month. My sister bought $10 worth Thursday.

[i]Photo above – Trading Day: “I'm winning... I'm winning any motherfreaking way. I can't lose . . .”
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Don’t say we weren't warned. Bitcoin crashed from $124,000 to $80,000 over the past month. We were also warned that Bitcoin was likely to reach $500,000 or possibly even $1 million. (See link below)

My sister bought $10 worth of coin (from a machine at Walgreens) on Thursday. It promptly fell another 5% during the rest of the day but regained 3% the next. My sister figures she’s winning. She says her $10 investment is stored securely in Coinbase.

I don’t want anyone to assume my sister is an idiot. She has a basic understanding of terms like “thinly traded” and “whales”. She knows that her $10 investment doesn’t move the market. But she’s kind of a prepper.

Not that my sister owns a gun. You can’t buy a decent gun for $10 either. But my sister is convinced the collapse of society – all societies, in fact – is coming. All currencies, except for crypto. In her imagined future crypto will be the ONLY currency accepted. The dollar, euro, yen etc. will have crashed and disappeared.

I tried to have a conversation with her about what happens if there’s no electricity when all those actual currencies disappear into a black hole. How will she retrieve her $10 bitcoin from Coinbase? Why don’t stores already accept Bitcoin for anything? That a 10th ounce Krugerrand, or a bag of pure silver Mercury dimes might be easier to navigate the future with. She correctly pointed out that both are already more than $10, and out of reach.

If you’ve guessed that my sister did not spend her own $10 on crypto, gold star and go to the head of the class. I gave her $10 and waited in the car while she went into Walgreens. “Bumpin’ on Sunset” by Wes Montgomery was playing on my YouTube music. It’s possible my sister did buy crypto, but I can’t guarantee that. Walgreens doesn’t sell cigarettes anymore, and she didn’t come out with a coke and bag of Doritos. Who knows what really happened to the $10?

And who really knows if Bitcoin is going to $500,000, or 1 cent, or if any stores will ever accept it like real money, Walgreens currently doesn’t.

I’m just sayin’ . . .


Cryptocurrency: Bitcoin-led plunge wipes out nearly $400 billion