Sometimes history rhymes
But recently, Heath has discovered a new passion: Investing in digital currencies.
Heath has spent $5,800 on Bitcoin since July and has more than tripled her investment.
“Look, I love pole dancing but lately my passion has definitely been Bitcoin,” she told SBS News.
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Heath is spending less time on the pole and more time advising would-be bitcoin investors about navigating the world of digital currencies, even starting a website to explain the digital currency to novices.
“It comes with any investing, it’s volatile at times, especially cryptocurrencies,” she said.
“The good thing is when it goes down, you can buy some more, and you know it’s going to go up at some point.”
Dee Heath
“As long as you’re calm and you don’t let emotions run you when you’re dealing with any sort of cryptocurrency, particularly Bitcoin, then you’re safe.”
Still, there are plenty of skeptics in her native Australia, where digital currencies are still largely associated with the black-market economy thriving on the dark web.
“Australia in particular has been involved in buying and selling drugs on the dark web using cryptocurrencies,” said Professor David Glance from the Centre for Software Practice at The University of Western Australia.
“Many are comparing the buzz around Bitcoin to tulip mania that hit the Netherlands in the 17th century.”
Professor Glance said with such a volatile currency, investors should only buy what they can afford to lose.
But with the digital currency recently peaking above $11,000 – a valuation that represents a 950% return since the beginning of the year in US dollar terms – mom and pop investors who had previously never heard of bitcoin are trying to get a piece of the action. Recently, the CME Group and other exchanges around the world have launched – or announced they’re planning to launch – new bitcoin derivatives that will make it easier for institutional investors like hedge funds to play in that market. Though many new funds have been established already this year to get in on the action.
Earlier this week, pioneering cryptocurrency investor Mike Novogratz, whose digital-currency focused fund has recorded astronomical returns this year thanks to the performance of bitcoin, Ethereum and many other digital currency copycats. After accurately predicting that bitcoin would reach $10,000 this year, Novogratz now says he sees it going to $40,000 by the end of next year.
Other financial luminaries like Warren Buffett and – most famously – JP Morgan CEO Jamie Dimon have said they believe bitcoin is a bubble. Dimon famously opined that the digital currency could get somebody killed.
And while bitcoin has given investors no reason in recent months to believe the rally is slowing down, the idea that strippers are starting to pour their cash earnings into bitcoin is eerily reminiscent of a scene from the movie “The Big Short” where two of the film’s protagonists interview a stripper who took out subprime mortgages to buy nearly half a dozen properties.
Should investors pay attention to this “stripper indicator”?
Darn. I thought this was going to have a link to sign up for pole dancing lessons.
This is as good a place to say this as any. I stopped by an Old Time Deli type of place that sprung up in the Cape Girardeau restauranteurs club in the 1980s to lunch with a friend. I now realize that ordering an open-faced turkey sandwich I remembered as loving from 30 YEARS AGO was stupid. When it didn’t taste right, adding the warm mayo and salt and pepper to help it was also stupid. When I tried to pass it off with a few TUMS I bought after lunch was over, I had NO IDEA.
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I got a fairly good case of salmonella there and lived to tell about it.
I LOVE the second photo my friend took of me in front of the true emblems of the Tri-State Bootheel Region (Jack Daniels and a flag) (Kentucky, Tennessee and Missouri*)
Mary? Do you know where BG’s Old Tyme Deli is located? Well, this is Maggie in that place a good 35 years later! I couldn’t even get a job in that place in the early 80s as a young college student. Now? It appears they don’t need many people, even at lunch. In spite of liking the decor on the wall, the place is NOT the place it once was in that little town on the Mississippi River. Is sad to see the old places get shabby.
*yes, Akansas is actually part of the Bootheel region, but we don’t like to discuss that around here.
I’m calling this one the MagJackFlag photo, to combat Yoyo’s vision-impairing images.
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that the dark web is driving crypto valuation is undeniable. consider all of the heinous activities that includes.
i just wanted to include that i have more respect for strippers and prostitutes than i have for bankers and politicians.
Ditto
I’d bet serial killers and pedophiles are all excited about cryptos, too. Maybe even preachers and college dons. So, don’t get sucked into this craziness! I’m thinking of selling because I sure as hell don’t want to be associated with strippers and such. I’d rather be like Jamie and Warren and that crowd. Lot safer.
A pole dancer with crazy eyes.
Huh, never thought we’d ever see something like that.
DETAILED analysis of the market top blow off. If you cannot believe the fears of the cental banksters, just check the stats they are looking at which generate their FEAR. All of them are looking at a repeat of the 08 downdraft and have to be scared witless.
There is a Wall Street tale of a savy well informed stock market player in the 1920’s . When the shoe shine Boy was playing the market and was offering him tips and strategies he knew the shit was about to hit the fan . He quietly moved a large portion of his investments into cash and sat back perched to strike after the crash ! Buy when there is blood in the streets , sell when they are popping champagne corks in the streets . Also never ever attempt to catch a falling knife , allow someone else to reap that last 5 or 10 % and you move on
As for bitcoin wow a shooting star likely to burn out or the future of money ? Time will tell ? Perhaps as the Russian/China/Middle East and Euro/Asian not to mention the African continent all come into a more modern world trade system with the new SILK ROAD , a project that Trump is attempting to get the US in play some how bitcoin will be the exchange currency of first preference but for now and the foreseeable future my crystal ball goes dark ???
I just don’t know what to think about cryptocurrencies. I don’t have the base of knowledge to claim an understanding of what, exactly, they are, let alone how they work.
What I do understand is that, like much of modern civilization, cryptocurrencies are utterly and finally dependent on the artificial production of electrical power. Someone please enlighten me if I’m just speaking from ignorance, but if there were to be a major loss of power over a significant portion of the globe (EMP strike for example), would not bitcoin, etherium, and the like simply blink out of existence along with a huge amount of other “wealth” that exists only in the digital ether?
My gut tells me that in the world that’s coming, only what is tangible will have any lasting worth. I’m not necessarily talking about cash or metals or even beans, bandages, and bullets. What I do know is that I will stick with what the human race has considered to be true wealth for 5000 years rather than the various forms of digital “wealth” that have been generated in the last five.
Our species has passed into a time of shadows and dust. The collective wisdom of the human race is being deconstructed, dismantled and demolished. Our money has been an illusion since the turn of the 20th century. Now, with the advent of cryptos, it threatens to pass even further out of the control of the common man. I read about how digital currencies will free us from the tyrannical tendencies of government control freaks and yet I also read how the “war on cash” is a mortal threat to human liberty. Which is it?
I choose to hold to the truth that wealth, in its essence, is only that which we can physically hold or materially control. I can hold a silver eagle or walk upon the property I own. I can eat the food that I slaughter or grow. I can defend these things with the weaponry that I possess. All this exists in my reality.
I cannot eat ones and zeros nor clothe myself with the Emperor’s new clothes .I cannot grasp the air any more than I can set foot upon the ether.
Faith, it is written, is the substance of things hoped for, the evidence of things unseen. I will have faith only in my God and in those I know, trust, and love. Bitcoin you can keep.
nicely written rugger–
since there aren’t any other “biz” threads up right now,i’ll put this here–
if bitcoin is built on hype,what about tesla?
3rd quarter was carmageddon for tesla–
from 2014 — well done “time traveler” post
The greater fool agrees with you also
It’s still quite fascinating to watch how this is all playing out (especially with regard to net neutrality and the internet’s future) . I’m just starting to dig in!
“He left some clues about why he is doing this project with the inclusion of the following text in the Genesis block, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.
Some interesting quotes:
Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years.
Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.[4]
It’s very attractive to the libertarian viewpoint if we can explain it properly. I’m better with code than with words though. [5]
https://en.bitcoin.it/wiki/Satoshi_Nakamoto
Life Inside a Secret Chinese Bitcoin Mine ($80,000 per month electric bill)
oh you are so right about a power loss..
One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week
https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change
short article,is cryptocurrency a govt plot?
Tesla is toast. Musk announced that superquick sports car (0-60 in under 2 seconds) and battery powered class 8 truck strictly to draw attention away from the looming disaster that Tesla is.
What kind of attention diversion will he use next time? Tunneling under Chicago? Oh, wait…………….
It would appear we all have similar skepticism regarding everything financial and it’s no wonder . Everytime we really scrutinize nearly every avenue of money or investment somewhere there is a steaming pile of shit for average Americans
The muse I loved and have written about here (hint, she looks like Stucky’s white witch and left red undies under my bed) I met at a strip club. She is one of three strippers I have known well, with IQ’s to rival mine. I only had sex with the one. One I trained as my cut out and the other was a pistol packing Army Sgt who worked in Bosnia, was working on her MBA and had two lovely children and a husband who invited me to their poker parties and children’s birthday parties.
When the one was not getting a 4.0 at UWF and not whiling away her boredom at the club, she would currency trade USD at night when the dollars’ volatility was the lowest. She considered the stock market too easily manipulated to trade in. Her income rivaled mine.
When I checked her out online I found dozens of properties in her name purchased for their owed taxes. All paid for in ca$h and titled in her name.
Goes to show you never can tell….
not really related but here is a short wolfstreet article regarding the lessening demand for electricity–
not sure i buy their conclusions but what do i know?