Since my logger friend piqued my interest in Bitcoins, I have tried to learn a little more about them. In surfing the Internet I find there are those who are saying Bitcoins will hit $100.000.00 and others are even saying they will soar to $1.0 million. As I write this, they are trading at $11,292.67. That is up from $937.50 on 12/31/16. No other asset class has shown an increase like that this year. The 10,000 Bitcoins Papa John's received for two large pizzas on 2/23/2010 are now worth $ 112.9 Million!!

Others say it is the biggest scam since the great tulip bubble of the 1630s.

Last week the C.F.T.C. approved CME's request to begin trading bitcoin futures and options and William Dudley of the F.O.M.C. said the FED may consider some type of crypto currency.

It is fairly easy to launch a crypto currency. There are now more than a thousand different crypto currencies. This leads me to conclude that there is a bubble developing and it will burst. That does not mean they will all burst any more than all dot com companies busted. After all, we still have goodle.com, facebook.com, amazon.com etc.

In a previous post I said that I intended to be an active participant in what may turn out to be a disruptive force of epic proportions. So I opened an account at GDAX about two weeks ago and funded it with a WHOPPING $500.00!!! I bought so bitcoins, some ethereum and some litecoins. The last time I checked my account balance was $652.68 I don't do much trading. I'm what is called a "HODLer" I buy and Hold On For Dear Life. I am holding some of the $500.00 in cash one of the coins drops I can buy again.

A fella need something to do to make life interesting! And the lean hogs and the bonds and now the bitcoins do make life interest and sometime VERY exciting.

Best wishes,

dhm