It is unfortunate that all the useful features of bitcoin—decentralization, resiliency, anonymity, finality, censor resistance, and its ability to be used online—are twinned with price volatility. However, to write Bitcoin off this early in time would be premature.
JP Koning has worked as a writer and researcher in the financial industry for most of his career, focusing mostly on the stock market. In 2012, he bought his first bitcoins for $11, only to foolishly sell them for $96 (they are now worth more than $1,000). Koning continues to write about bitcoin and other monetary phenomenon at his blog Moneyness.
Posts by JP Koning
The real Elvis is American, remember, and America is a consumer society. The desires we project, the stuff we buy—that is what feels real to us. It lets us have any Elvis we want. He left plenty of kitsch in his wake, plenty of pseudo-religion, plenty of Elvis jokes—but he was not, is not, a joke. He lived our contradictions, released our inhibitions, and lost himself in the process.