Question: Bitcoin???

Life is full of mysteries that leave us wondering and scratching our heads. Lice can also do this. But if you have a question about life, or even about lice, this is your chance to ask it. Just shoot me an email, at TippyGnu [at] Or, if you don’t feel like shooting me, you can ask the question in a comment.

Either way, I may decide to get off my lazy butt and put your question to the world, by featuring it on this blog. And then you’ll receive answers from my followers, some of whom possess the smartest brains on Earth. The rest are just smartasses. But either way, you’ll get answers. And we demand answers!

I guess I’ll have to get the ball rolling, so today’s question comes from me. My question is about Bitcoin.

I’ve been hearing about Bitcoin for many years now. But what the hell is it, and who bit it? Is it made from a soft, chewy metal? Is a Bitcoin too big or heavy for my pocket? And do numismatists collect old Bitcoins?

Please share your knowledge of Bitcoin with me. I’m anxious to hear that this is a foolproof way to get rich quick, which I’d better get in on soon. Yes, please tell me that! But I promise I won’t get mad if you tell me the opposite, and that Bitcoin is a scam. I’ll just sulk for a little while.

Just remember, there are no stupid questions. So here’s mine: What is Bitcoin, and who bit it?

Categories: question

36 replies »

  1. It’s an odd form of currency with a $ thru the B ….. but, given the range of opinions about Bitcoins, I rather think there is a spelling error and it is really Britcoin (still with $ sign through it because it was likely contrived by an offshore Brit who did not have the Pound symbol available to him/her).

    The other theory is that it really is Bitcoin, but still has some Britstuff woven into the investment schemes, and the B on the coin stands for Boris. As for how valid Bitcoins, or Boris coins, are …….. I guess Boris’ current demise in UK says it all!

    So should you invest in Bitcoins? That depends on which coin bits you invest in. It may be safer to invest in more traditional areas, like real estate in the Florida Everglades, or property in Eastern Ukraine. Hope that helps.

    Liked by 4 people

    • Yes, that does help. I think I’ll use Bitcoins to invest in Ukrainian real estate. Maybe when Boris becomes a civilian again, he can sell advice as to the best areas of Ukrainian real estate to purchase.

      Liked by 3 people

  2. “Some of which possess the smartest brains on earth…” LT and me thank you for that special acknowledgment.
    Now I will get busy trying to think of a really smart question 🤔

    Liked by 1 person

  3. Do I get credit for having one of the smartest asses on earth?

    I think that Bill Gates summed up Bitcoins best when referring to the ‘greater fool theory’ as in your ability to reap any rewards or even maintain the value of your investment depends upon someone more foolish that you buying in.

    Liked by 4 people

  4. Bitcoin: If you can believe this bit of nothing will have value later on that another person will pay you for giving to them, then you can find a fortune ahead for your investment in my scheme.

    And don’t forget! It’s stylish and proof that you’re making a historic decision about modern finance!

    Liked by 1 person

  5. I’m still working on a good, stupid question… although I’m still waiting on a response from the Almighty regarding the meaning of life.

    As for Bit Coin… it’s a scam… kind of like the zero-Euro banknotes issued by the Vatican City. (Yes, they really do issue zero-Euro banknotes.) Anything you can’t hold in your hand and use is a scam. That’s why I’ve amassed a huge stockpile of “Air Coin”. For years now, I’ve been re-corking all of my empty wine bottles, secure in the knowledge that some day the air contained in them will be even more valuable. Just don’t open any of my closets… or the door to the garage.

    Liked by 1 person

    • You remind me of my mother-in-law. She preferred investing in real estate over stocks, because she could see and feel the real estate.

      I suspect Bitcoin is a scam, also. However it does allow you to engage in untraceable financial transactions, which may be a plus for some people, related to their line of work.

      Liked by 1 person

      • When corks, wine bottles and air go up in value, I’ll let some sucker… I mean investor buy me out, and I’ll spend the rest of my days writing from Bora Bora and Bali.

        I think those “untraceable” transactions were the initial intent of Bit Coin. In some ways it was a good idea. Government issued “money” is already essentially digital; little exists as actual coinage or currency. It’s just more easily tracked and taxed.

        In that regard, I was actually following the development of Cardano “Ada” (ADA) for awhile. The intent was to develop a distributed and essentially fiat means for supporting large numbers of secure but anonymous transactions. Because it was fiat, the idea was that it wouldn’t invite the kind of speculative investment that causes huge swings and instabilities in limited, or “mined” digital currencies. Regardless, I think the developer succumbed to some degree of pump-and-dump, and it quickly lost its credibility (at least with me).

        Liked by 1 person

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