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Bitcoin bet or bubble bursting?

two_pence Mt Gox is dead. Apparently. More than 750,000 Bitcoins missing, so they say.  Rumour mill an’ all.

Careless that, or criminal. Either way someone has lost a lot of Bitcoin (Mt Gox has previous – see here from 2011).

Now could be a good time to invest in Bitcoin. The price has dropped considerably. Mind you anytime could be a bad time to invest in Bitcoin, unless you make a living being successful at roulette.

I’m thinking of buying one. Just the one. Just so’s I can feel part of the action. It won’t be a big investment. I once knew a bookie in my local pub. He had a pitch at Market Rasen races and at one race meet I put a two pound bet on a horse with him. He accused me of trying to manipulate the odds with heavy betting 🙂

bitcoin market priceCurrent price is £295 or so (it was earlier this pm – changed already by the time of publication – gotta move faster – see That’s a new washing machine, or simlar. Mrs Davies would say that a new washing machine would be more useful and not depreciate quite as quickly as Bitcoin has over the last 24 hours.

Wives just don’t understand do they?

I’d like to bet that many of the readers of this blog are multi-millionaires thanks to Bitcoin and  here’s me still trying to hack out a living writing blog posts. It could be the answer.

Mind you I do occasionally buy a lottery ticket and I honestly can’t remember the last time I got a single number right. I think there is something going on there. Must be.

I’ll keep you posted.

Mt Gox is dead. Long live Mt Gox.

PS I realise I’m taking a risk publishing a picture of a two pence piece but I think it is in the public interest to do so. The two pence photographed is worth two pence and will be used as part of a transaction to buy something – box of matches1 etc. It may not be possible to do this with a bitcoin.

1 can you actually buy anything for two pence anymore?

Trefor Davies

By Trefor Davies

Liver of life, father of four, CTO of, writer, poet,

2 replies on “Bitcoin bet or bubble bursting?”

2p ought to buy a gummy bear but as I eat at least 1 packet at a time, I’ve never bought just one. Quick trip to sweetie shop? (Does London still have those?)

btw it’s fascinating watching the price change at Of course we could be watching the dollar rate change against the pound as the Bitcoin rate is actually measured against the dollar. Don’t know and don’t care really.

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