A lot of monkeys lived near a village.

One day a merchant came to the village to buy these monkeys!

He announced that he will buy the monkeys @ $100 each.

The villagers thought that this man is mad.

They thought how can somebody buy stray monkeys at $100 each?

Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey.

This news spread like wildfire and people caught monkeys and sold it to the merchant.

After a few days, the merchant announced that he will buy monkeys @ 200 each.

The lazy villagers also ran around to catch the remaining monkeys!

They sold the remaining monkeys @ 200 each.

Then the merchant announced that he will buy monkeys @ 500 each!





The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got 500 each.

The villagers were waiting anxiously for the next announcement.

Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ 1000 each!

He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.



The merchant went home.



The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.

Then the employee told them that he will sell some monkeys @ 700 each secretly.

This news spread like fire. Since the merchant buys monkey @ 1000 each, there is a 300 profit for each monkey.

The next day, villagers made a queue near the monkey cage.

The employee sold all the monkeys at 700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!



The villagers took care of their monkeys & waited for the merchant to return.

But nobody came! ...

Then they ran to the employee...

But he has already left too !



The villagers then realised that they have bought the useless stray monkeys @ 700 each and unable to sell them!

The Bitcoin will be the next monkey business



It will make a lot of people bankrupt and a few people filthy rich in this monkey business.



That's how it will work

Excellent analogy but as long as you the filthy rich then it is ok!

Don't let the EFF get to know about this thread. They'll go monkey. Hahaha and vandalize this site

Year of the monkey

Haha this is a good read and if I may, I was about to look into the whole bitcoin business as I have no clue how it works.

Funny story but in no way relevant to Bitcoin or crypto currency.

People will laugh at and hate what they dont understand.

I dont own any but understand it very well....it is the future of trade.

Cryptocurrency is the future....deal with it.

On 2018-01-15 21:59:10 rd32 said:
Cryptocurrency is the future....deal with it.

Yep agree, so was CD's

On 2018-01-15 20:01:50 Bingoboy said:
Funny story but in no way relevant to Bitcoin or crypto currency.

People will laugh at and hate what they dont understand.

I dont own any but understand it very well....it is the future of trade.

Am so glad you do, please share a few good tips on what to base a valuation of the currency on?

On 2018-01-15 23:23:39 johndoe69za said:
On 2018-01-15 20:01:50 Bingoboy said: Funny story but in no way relevant to Bitcoin or crypto currency.

People will laugh at and hate what they dont understand.

I dont own any but understand it very well....it is the future of trade.

Am so glad you do, please share a few good tips on what to base a valuation of the currency on?

Aaah the loaded question...not biting.

The technology i understand, the valuation is open to the free market so valuation is reliant on supply and demand which in this case is very emotionally driven so it is difficult to predict.

But this you know, hence your question...