It’s all about the Benjamins, baby. (With due deference to Dick Vitale, as March Madness nears its maddening end.)
“C’mon, man! You’ve got to make money out of this thing.”…”You’re crazy! People will pay you good bucks for what you’re doing.”…”Let me tell you how I’ve been coining it in, doing what I love to do–writing.”…
I’ve been blogging for a few years and it’s apparent that, for some, this activity is an income-generating vehicle. Not meaning to be offensive, but I would suspect you if you paid me to read what I write. Read it. Share it. Pay me for it? Nah!
Being an economist, I have some idea about how markets are supposed to work. Clearly, many processes can lead to a money-making business. Vice sells! If I inserted key words, like ‘sex’, or ‘drugs’, into my writing my blog’s popularity would rise almost miraculously above the cowering masses and send me soaring off into the blogerati, as hits on my blog rose due to the search for salaciousness, or information on the murky sides of life. Celebrity scandalizing? Rolling with the rockers? Peep and tell? Vicarious thriller. Add some murky YouTube videos with images of people we do not know but whose names are household names. Film my cat wearing my wife’s clothes? No end to the weirdness that could sell and push me past some financial tipping point.
What then would happen to my life? My search would never stop to keep out-awesoming myself. Wholesomeness? Bleh! Shock. Shockier. Shockiest. Where would it end? I’d have no time for fun. What would I do with all the fame and the rising piles of my fortune?
I read this morning about the latest intrigue over Bitcoin. The rage has spurred interest, as in a recent primer in the Washington Post. I agree with those who see this as close to the Cadillac of all fiat money. Call me a cynic, but if it sounds too good to be true, then… Scam or scheme to get through many of the wrinkles of making transactions? Limited supply leading to rising values. Artificially lifting prices. Bubble, in the making? It’s all about trust. Well, what isn’t? Putting ‘real’ (recognizable and widely accepted) money into the hands of someone who’s going to give me some virtual money (not well-recognized and not widely accepted). What about that does not make sense?
I wonder how many of the Federal employees, about to face furlough notices due the sequestration, will plunge into the Bitcoin pool?
Was there ever a guano bubble? Did I miss the chance to cash in on that s!#@?
My kid has her monopoly game under her bed. I’d better go and collect up all those notes and see if I can get groceries from the supermarket.
We want the money. We want it the easy way.
It’s going to end badly. Mo’ money, mo’ problems: