[Chugalug] Chugalug Digest, Vol 14, Issue 36

Chad Smith chad78 at gmail.com
Fri Sep 6 15:06:57 UTC 2013

I don't think anyone is claiming that BitCoins are currently worthless.
 They have some value to some people.  I hold to my opinion that it is a
*fad* once the bubble bursts those BitCoins that are worth currently
(according to http://preev.com/) $123.20 US Dollars will someday
(relatively soon based on experience with other fads) be worth about $1.23
-- or less.

When that happens, the $5,000 machines used to mine them will not be able
to "create enough wealth" to pay for the power it takes to run them, much
less the cost of the machine itself.

That is the scam.  The selling of the "IT PRINTS MONEY" machines, not
necessarily the idea of BitCoin itself.

Let me ask you this - if Butterfly *REALLY* believed in BitCoin - why the
hell would it sell its machines.  If they "pay for themselves" in a couple
of months and become pure profit forever after that - then why not just
build them and plug them in and start mining as fast as they can?  In
theory, they could buy the world in a couple of years, right?

Obviously not.  There's a burst coming, and Butterfly is smart enough to
know that.  That's why they are selling the shovels now, while the gold
rush is on.

*- Chad W. Smith*
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