👓 ‘Bitcoin is my potential pension’: What’s driving people in Kentucky to join the craze | The Washington Post

Read ‘Bitcoin is my potential pension’: What’s driving people in Kentucky to join the craze by Chico Harlan (Washington Post)

The possibility of a windfall lures many who see themselves in a financial rut.

This is just painful to read and feels all too much like a Ponzi scheme gone wrong. Sadly, the reportage doesn’t take a direct stance, so some are more likely to read this and think that it’s an actual investment scheme to be dabbled with. If it were a realistic currency, then having a relatively constant value would be a key feature.

I came across this from Paul Krugman’s tweet which is all too apt:

We're now in the late stage of a bubble, where things get cruel
— Paul Krugman (@paulkrugman) February 4, 2018