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How Bitcoin Works
Initially Posted: January 12, 2018 5:30 p.m. PST   

This is how Bitcoin works

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 them to this merchant and he gave $100 for each monkey.  This news spread like wildfire and people caught monkeys and sold them to the merchant.

After a few days, the merchant announced that he will buy monkeys @ $200 each.  Even the laziest villagers ran around catching 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.  The employee was alone taking care of all the monkeys.

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 secretly sell some monkeys @ $700 each.  This news spread like fire.  Since the merchant buys monkeys @ $1000 each, there is a $300 profit for each monkey.

The next day, villagers lined up near the monkey cages.

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 had already left too !

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

Bitcoin is the next monkey business. It will make a few people filthy rich and a lot of people bankrupt in this new monkey business. 

That's how it works.

~ George
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