The Mon(k)ey Value of BitCoin

The joke about monkey for $10, $20, promise to pay $50, which is currently getting very popular in the Russian segment of Facebook, is not new. It was initially attributed to the Wall Street. However, we decided to re-tell it, because the allusion to BitCoin is even stronger.
Once upon a time in a village in India , a man announced to the villagers that he would buy monkeys BitCoins for $10.

The villagers seeing there were many monkeys around BitCoins are relatively easy to mine, started catching mining them.
The man bought thousands at $10, but, as the supply started to diminish electricity costs started to grow overproportionally, the villagers stopped their efforts. The man further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys mining again.

Soon the supply diminished even further and people started going back to their farms. The offer rate increased to $25 and the supply of monkeys BitCoins became so little that it was an effort to even see a monkey mine it, let alone catch it even with GPUs or FPGAs!

The man now announced that he would buy monkeys BitCoin at $50! However, since he had to go to the city on some business, his assistant would now act as buyer, on his behalf.

In the absence of the man, the assistant told the villagers: 'Look at all these monkeys in the big cage BitCoins in Blockchain. I will sell them to you at $35 and when he returns from the city, you can sell them back to him for $50.'

The villagers squeezed together their savings and bought all the monkeys BitCoins.

Then they never saw the man or his assistant again, only monkeys BitCoins everywhere!

A note on Ads (Don't be astonished to see an advertisement of a BitCoin or other Cryptocurrency. Finally, the Artificial Intelligence and Singularity is pretty the same Hype as BitCoin)

Like this post and wanna learn more? Have a look at Knowledge rather than Hope: A Book for Retail Investors and Mathematical Finance Students

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