Happy New Year! 2018 might be a disaster
Bitcoin
Bitcoin medals (Photo: Karen Bleier  AFP/Getty Images)
People are talking about making the electrical grid more resilient. That means not only making  it  more reliable  so that  it ’s less likely to fail  but also better at putting  itself  back together if pieces of  it  collapse. I think that this sort of thing deserves at least as much attention as cyberdefense efforts designed to frustrate hackers. All sorts of things besides hackers could bring down the grid: A massive solar flare  an EMP attack  a software “bug” rather than a hack. The better the grid is at recovering  the better it will be if any of them happen.
The Bitcoin bubble bursts:  Bitcoin  has been skyrocketing  and I confess that I wish I’d put  say  a thousand bucks into  it  a few years back  when my crypto-enthusiast friends were encouraging me to. But many people think  it ’s in a bubble  and all bubbles burst. Perhaps they’re wrong  but if they’re right  many people — especially in Asia  where millions of investors are driving up the price according to the Wall Street Journal — will wind up losing their shirts and angry. Asia doesn’t need destabilizing right now  with North Korea and China rattling sabers. (And for added fun  North Korea is hacking  Bitcoin  exchanges.)
There’s not much bankers and regulators can do to stop a bubble bursting  but they should be ready for its possibility. And ordinary folks can prepare by keeping their debt and spending on a tight leash  which is a good idea anyway. Or maybe it’s not a bubble  and I’m missing out by not buying  Bitcoin  even at  its  current soaring price. By way of comfort  that would be consistent with my investment performance.
Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? What is  Bitcoin ?   1:17 A motion graphic explains what  Bitcoin  is and how  Bitcoin  works. Keith Carter and Ashley M. Williams  USA TODAY Network 1 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Bitcoin futures soar in major exchange debut   1:39 The first-ever futures contracts for the virtual currency bitcoin started trading at the Chicago Board Options Exchange Sunday. The price has surged. (Dec. 11) AP 2 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Bitcoin makes big impression on Wall Street  should you invest?    0:39 Bitcoin futures  makes a big impression on Wall street  as  it  was traded for the first time Sunday. Buzz60 3 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Hackers steal $70 million in Bitcoin   0:47 In a theft on the cryptocurrency-mining service NiceHash  hackers made off with nearly $70 million worth of Bitcoin. Time 4 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Mark Cuban's one rule for investing in Bitcoin   1:24 Mark Cuban's One Rule for Investing in Bitcoin Time 5 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE?  All the Bitcoin in the world  are now worth more than New Zealand   1:51  Bitcoin’s  extraordinary price surge means  its  market capitalization now exceeds the annual output of whole economies  and the estimated worth of some of the world’s top billionaires. Time 6 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Why Vanguard's Jack Bogle says 'avoid  bitcoin  like the plague'   1:07 Jack Bogle doesn't think  Bitcoin  is worth your investment. Time 7 of 11 Skip in Skip x Embed x Share CLOSE  BITCOIN : NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE?  Bitcoin  is surprisingly popular in this country   0:46 There has been a surge in  Bitcoin  mining in Venezuela as inflation hits the economy. Bitcoin miners can earn about $500 a month according to The Atlantic. Video provided by TheStreet Newslook 8 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Should you add Bitcoin to your portfolio?   3:15 Bitcoin has so much flavor of the month because it is a relatively new alternative currency demanded by hackers. Video provided by TheStreet Newslook 9 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Top Bitcoin players who could make a fortune off the cryptocurrency   2:02 Some people don't understand what Bitcoin is  but some people stand to make a fortune off the cryptocurrency. Here are the five people who stand to make a killing when they finally cash in on Bitcoin. Time 10 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Bitcoin ATM unveiled in Austin  among first in U.S   1:45 Bitcoin -- the virtual currency that has ignited the imagination of techies  investigators and investors -- has landed in Austin  Texas. But financial experts say the technology isn't for everyone. VPC 11 of 11 Last VideoNext Video What is  Bitcoin ?
Bitcoin futures soar in major exchange debut
Bitcoin makes big impression on Wall Street  should you invest?
Hackers steal $70 million in  Bitcoin 
Mark Cuban's one rule for investing in Bitcoin
All the Bitcoin in the world are now worth more than New Zealand
Why Vanguard's Jack Bogle says 'avoid bitcoin like  the plague'
Bitcoin  is surprisingly popular in this country
Should you add  Bitcoin  to your portfolio?
Top Bitcoin players who could make a fortune off the cryptocurrency
Bitcoin ATM unveiled in Austin  among first in U.S
A singularity of stupid: Okay  this last seems the most likely. I don’t think it’s wrong to say that our politics have become increasingly foolish and hysterical in recent years — in a recent column  I blamed social media for a lot of it. Like Nigel Tufnel’s guitar amp in Spinal Tap  every issue today goes to 11. Every election is an existential threat  every politician people don’t like is Hitler  every policy change is going to kill millions of people. As with  Bitcoin  I’m assuming (okay  in this case I’m hoping) that this trend will reach a top. But it’s possible that the irrationality will grow to the point of producing actual social breakdown. Mass hysteria has afflicted societies for millennia  but we have created conditions that let it spread much faster and farther than ever before. It’s the intellectual-hygiene equivalent of everyone sharing everyone else’s toothbrush.
Bitcoin medals (Photo: Karen Bleier  AFP/Getty Images)
People are talking about making the electrical grid more resilient. That means not only making  [TGT]  more reliable  so that  [TGT] ’s less likely to fail  but also better at putting  [TGT]  back together if pieces of  [TGT]  collapse. I think that this sort of thing deserves at least as much attention as cyberdefense efforts designed to frustrate hackers. All sorts of things besides hackers could bring down the grid: A massive solar flare  an EMP attack  a software “bug” rather than a hack. The better the grid is at recovering  the better it will be if any of them happen.
The Bitcoin bubble bursts:  [TGT]has been skyrocketing  and I confess that I wish I’d put  say  a thousand bucks into  [TGT]  a few years back  when my crypto-enthusiast friends were encouraging me to. But many people think  [TGT] ’s in a bubble  and all bubbles burst. Perhaps they’re wrong  but if they’re right  many people — especially in Asia  where millions of investors are driving up the price according to the Wall Street Journal — will wind up losing their shirts and angry. Asia doesn’t need destabilizing right now  with North Korea and China rattling sabers. (And for added fun  North Korea is hacking  Bitcoin  exchanges.)
There’s not much bankers and regulators can do to stop a bubble bursting  but they should be ready for its possibility. And ordinary folks can prepare by keeping their debt and spending on a tight leash  which is a good idea anyway. Or maybe it’s not a bubble  and I’m missing out by not buying  [TGT]even at  [TGT]  current soaring price. By way of comfort  that would be consistent with my investment performance.
Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? What is  [TGT] ?   1:17 A motion graphic explains what  [TGT]is and how  [TGT]works. Keith Carter and Ashley M. Williams  USA TODAY Network 1 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? [TGT] futures soar in major exchange debut   1:39 The first-ever futures contracts for [TGT] started trading at the Chicago Board Options Exchange Sunday. The price has surged. (Dec. 11) AP 2 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? [TGT] makes big impression on Wall Street  should you invest?    0:39 [TGT] futures  makes a big impression on Wall street  as  [TGT]  was traded for the first time Sunday. Buzz60 3 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Hackers steal $70 million in Bitcoin   0:47 In a theft on the cryptocurrency-mining service NiceHash  hackers made off with nearly $70 million worth of [TGT]. Time 4 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Mark Cuban's one rule for investing in [TGT]   1:24 Mark Cuban's One Rule for Investing in Bitcoin Time 5 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE?  All the Bitcoin in the world  are now worth more than New Zealand   1:51  Bitcoin’s  extraordinary price surge means  its  market capitalization now exceeds the annual output of whole economies  and the estimated worth of some of the world’s top billionaires. Time 6 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Why Vanguard's Jack Bogle says 'avoid  bitcoin  like the plague'   1:07 Jack Bogle doesn't think  [TGT]is worth your investment. Time 7 of 11 Skip in Skip x Embed x Share CLOSE  BITCOIN : NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE?  [TGT]is surprisingly popular in this country   0:46 There has been a surge in  [TGT]mining in Venezuela as inflation hits the economy. Bitcoin miners can earn about $500 a month according to The Atlantic. Video provided by TheStreet Newslook 8 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Should you add [TGT] to your portfolio?   [TGT] has so much flavor of the month because [TGT] is a relatively new alternative currency demanded by hackers. Video provided by TheStreet Newslook 9 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? Top [TGT] players who could make a fortune off the cryptocurrency   2:02 Some people don't understand what [TGT] is  but some people stand to make a fortune off the cryptocurrency. Here are the five people who stand to make a killing when they finally cash in on [TGT]. Time 10 of 11 Skip in Skip x Embed x Share CLOSE BITCOIN: NEW CURRENCY STANDARD OR CRYPTOCURRENCY BUBBLE? [TGT] ATM unveiled in Austin  among first in U.S   1:45 Bitcoin -- the virtual currency that has ignited the imagination of techies  investigators and investors -- has landed in Austin  Texas. But financial experts say the technology isn't for everyone. VPC 11 of 11 Last VideoNext Video What is  Bitcoin ?
[TGT] futures soar in major exchange debut
[TGT] makes big impression on Wall Street  should you invest?
Hackers steal $70 million in  Bitcoin 
Mark Cuban's one rule for investing in [TGT]
All the Bitcoin in the world are now worth more than New Zealand
Why Vanguard's Jack Bogle says 'avoid bitcoin like  the plague'
Bitcoin  is surprisingly popular in this country
Should you add  Bitcoin  to your portfolio?
Top Bitcoin players who could make a fortune off the cryptocurrency
Bitcoin ATM unveiled in Austin  among first in U.S
A singularity of stupid: Okay  this last seems the most likely. I don’t think it’s wrong to say that our politics have become increasingly foolish and hysterical in recent years — in a recent column  I blamed social media for a lot of it. Like Nigel Tufnel’s guitar amp in Spinal Tap  every issue today goes to 11. Every election is an existential threat  every politician people don’t like is Hitler  every policy change is going to kill millions of people. As with  Bitcoin  I’m assuming (okay  in this case I’m hoping) that this trend will reach a top. But it’s possible that the irrationality will grow to the point of producing actual social breakdown. Mass hysteria has afflicted societies for millennia  but we have created conditions that let it spread much faster and farther than ever before. It’s the intellectual-hygiene equivalent of everyone sharing everyone else’s toothbrush.