Cryptic Cryptos

Cryptic Cryptos

There’s some places in the world that just seem to attract certain types of people; it’s the kind of person that you usually don’t see in mainstream society in Europe and they’re reminiscent of characters you would identify with in one of those gritty western movies of TV series. There’s the snake oil salesman, and they’re almost all men, the quiet drifter, the young buck out to make a name for themselves running girls or bars and then there’s the prospector.

I’m not exaggerating when I say that Pattaya can closely reflect California in the mis 19th century and the prospectors now aren’t chasing gold, today it’s the crypto-currencies. It’s a common topic of conversation out here with people living off the money they have already made and some borrowing all they can to buy more.

Too often they’re the same person.

Owning 12 bitcoins makes you a wealthy man here and in the 12 days I have been here, I have already lost count of the times that I have been told what a mug I am for not buying in now by these alpha-male big-shots.

And just like the 19th century wealth chasers, the conversation soon turns to the next new strike that they’re all chasing. Bitcoin is so yesterday but that rise will soon level off and it’s Litecoin now; its smart to diversify I’m told.

I have no doubt that some of these people have made a chunk of money and that there’s a lot more to be made. I’m equally sure that there are tears to be shed sometime soon. But soon is a vague word and trying to put any timeframe on the predicted bubble-pop is as much a mug’s game as betting on the horses and it’s not for me.

Leave a Reply

Your email address will not be published. Required fields are marked *