Today, I interview Bitram “Bitty” Coins, the nation’s leading expert in the Bitcoins market.
GN: Mr. Coins, I am happy you consented to an interview.
BC: Call me Bitty.
GN: OK, Bitty. I want to find out what this Bitcoins deal is all about.
BC: It’s about liberty. It’s about a new international market. It’s about a New World Currency Order.
GN: It’s also about buying 10,000 Bitcoins for $50 in 2009, which are worth $13,000,000 today.
BC: I call this value-added investing.
GN: I call it a digital tulip mania.
BC: I see that you are a skeptic.
GN: You have very clear eyesight.
BC: Maybe I can persuade you otherwise.
GN: Give it your best shot.
BC: Let me tell you about the #1 benefit. You get complete privacy.
BC: That’s right.
GN: How does this work?
BC: You go to an exchange and buy Bitcoins.
GN: You mean like Silk Road?
BC: Not Silk Road. The U. S. government shut it down.
GN: Then maybe Sheep Marketplace, Silk Road’s replacement?
BC. It went out of business when someone stole $100,000,000 in Bitcoins — maybe the biggest theft in history.
GN: How did he do this?
BC: Nobody knows.
GN: Will the police catch him?
BC: The police can’t do anything about it.
GN: Why not?
BC: Because, with Bitcoins, you have complete privacy.
GN: So does the thief.
BC: That’s the price of complete privacy.
GN: Then what recourse do the victims have?
BC: Well, one of them said this. “I won’t find this guy. Somebody else will. I assume he’ll be jailed, blackmailed, tortured or killed.” I find this inspirational. It’s 100% privacy at work.
GN: Are these heists a pattern?
BC. Not at all. They are random.
GN: But there are so many of them. Here is a list.
BC: It’s just a cost of doing business anonymously.
GN: Because there are no contracts.
GN: Because there are no courts.
GN: Because no one knows who he is dealing with.
GN: So, if you get robbed, you lose everything.
(For the rest of the interview, click the link.)