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The modern gold rush is here. Everybody (including me) is jumping into digital currency. Whether this is wise, I’m not sure. Like everything else one invests in, it pays to use the money you can afford to lose. The reality is none of us can afford to lose money. The scary world we now live in gives value to something with no value. You can’t hold it in your hand, it can disappear in a blink if you’re not careful, and there are plenty of people out there in cyberspace that are much smarter than you or me that want to steal it.
The problem we face is that many of us older people haven’t prepared well for this thing called the golden years. The young are saddled with student loan debt with a bleak possibility of paying it back. The stock market is doing well but if you don’t have much too invest it just won’t provide much upside to your lifestyle. Enter Bitcoin. We can see the tremendous growth over the past year and with Ethereum and Litecoin doing well too, the temptation is just too much to resist. We look back and wish we’d stuck a thousand dollars in light coin last January. Why weren’t we paying attention? We’d be sitting pretty. So we hop on the bandwagon hoping it’s not too late. And so far we’ve made a couple bucks, but knowing when to leave the “table” with our winnings, that’s hard to guess. As the old song goes, you’ve got to know when to hold ’em and know when to fold ’em.
I reassure myself by noting the possible ETF or IRA Bitcoin investments. It’s a “real” currency, at least as real as the digital wannabe money the government gives us for money. What does bother me is that everything that used to be dependable is being devalued. Marriage, money, children, the truth, everything is being replaced with something vague, of questionable value, and even possibly worth nothing. But here we are, all of us trying to be the pinball wizard. So we play the game, a game we don’t know if we’re playing well. We’re not even sure of the rules.
The day that McDonald’s accepts cryptocurrency for a Big Mac, then we’ll feel safer. A currency not worth anything if you can’t buy a sandwich with it! For now, I play the game. If I’m smart I won’t play it long.