Post
Topic
Board Speculation
Re: "Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k"
by
Koekiemonster
on 30/10/2013, 18:59:20 UTC
I used to play a lot of poker.  Even semi-professionally for a while.  I'll never forget the "boom switch" that was flipped on when an "average Joe" named Chris Moneymaker won the World Series of Poker in 2003, for $2.5 million, on a $40 initial investment...

People eat that shit up.  Everyone wanted to get involved all of a sudden.

We could be priming for a huge bubble, which hopefully doesn't undermine Bitcoin's real value and innovation - not as a "get rich quick" scheme.  I suppose only time will tell.

http://en.wikipedia.org/wiki/List_of_World_Series_of_Poker_Main_Event_champions (notice entrants after 2003)

The difference is with poker people thought they might be able to do the same, but with the Bitcoin situation people will often think: "It's gone up so much, it can't possibly go up any further." This is a key difference so I don't think this will have much effect at all.