Some people like to play with danger; they get a thrill out of snatching Life out of the Jaws of Death.

Look at the videos of surf-boarders: mounted on their boards, they rush at break-neck speed down absolutely mountainous waves which break thunderously as they reach the shore. Surf-boarders do this, because of the thrill of cheating Death of themselves as its victims.

There are endless ways of getting the thrill of cheating Death of its victim.

One of them is to play with the danger of Bitcoin - supposedly a "digital currency". Those who are wise know the danger of playing with Bitcoin, but that doesn't put them off, on the contrary, the danger incites their participation in the game, they love the thrill!

Bitcoin is not money, it is not a currency, it is only a digital game - a game that consists of accumulating electronic digits, which are supposed to represent Dollars, or some other empty - supposedly "monetary" - digits.

If you like to play with Danger, because of the thrill it gives you, you can get your kicks by playing with Bitcoins or its fellows.

Bitcoin and its fellows are thrilling toys for the wise; only fools regard them as serious investments. Fools argue that "only 21 million" Bitcoins can be "mined" - using physical mining of gold as an image to hold in mind, in order to support the fiction that it is "the work involved" that gives value to things, a theory completely discredited many years ago.

Said J. P. Morgan: "Gold is money; all else is credit."

Gold is physically tangible; Bitcoins and their fellows are electronic digits, so close to nothing at all, that they are more "idea" than anything else.

The foolish followers of Bitcoin and its fellows think that the present electronic age is going to last forever; they are, of course, mistaken. A great many parts of the World do not enjoy the use of electricity. Bitcoin and its fellows have no meaning at all in those regions. 

If and when the lights go out in the USA, or other parts of the World, electronic digits will be quite useless there. Those who thought they had millions upon millions of "digital money" - Dollars, Euros, Pounds or what have you - will find themselves in unexpected trouble. The foolish holders of Bitcoin and its fellows will be "up a creek without a paddle", while the owners of gold coins will certainly not go hungry.

The "sophomores" - the "wise fools" - think that the present, totally artificial moneys of today's World are permanent; they think that the inventions of intangible fiat-moneys that are in use in the World today, will be permanent fixtures of the future.

They are mistaken, and they have plenty of company, because the old saying holds: "The number of fools is Legion".

Gold passes from the hands of fools, to the hands of the wise. When fools have mastery in the World, gold goes into hiding, and Bitcoin and its fellows have their day. But when the fools and their make-believe money are swept away by Reality, gold comes back into its own.

It has always been so, and always will be so.