Today’s Word: beetle-browed (adjective)– Someone who is beetle-browed (BEED’l-browd) has bushy or overhanging eyebrows. The word is generally used to describe an unfriendly or scowling face. As used by Thomas Carlyle in a letter to his brother: “A terrible, beetle-browed, mastiff-mouthed, yellow-skinned, broad-bottomed, grim-taciturn individual; with a pair of dull-cruel-looking black eyes, and as much Parliamentary intellect and silent-rage in him… as I have ever seen in any man.”
Did You Know?: You can be fined up to $1,000 for whistling on a Sunday in Salt Lake City.
Worth Quoting: “Either write something worth reading or do something worth writing.” – Ben Franklin
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Update on Cryptocurrency
I wrote about cryptocurrency several times earlier this year. If you saw those posts, you know my position.
A quick summary: There is a lot to say in its favor. Ultimately though, I don’t see how it can grow beyond a speculation because the value of any currency depends on two things – usage and faith. I can’t see the US government allowing Bitcoin (or any cryptocurrency whose circulation is limited) to ever compete with the dollar. I can, however, see governments and big finance getting together to take advantage of the blockchain, the technology that makes cryptocurrencies work. They understand the value of a currency that is attached to it because they would be able to track every exchange, thus eliminating tax dodges and rendering financial privacy passé.
I have a small basket of cryptocurrencies that I bought so that, in the unlikely case that cryptocurrencies flourish, I will be able to say “I was in early on.” But my total investment is less than one-tenth of one percent of my net worth. Not enough to crow about.
Two colleagues of mine – Teeka Tawari and James Altucher – have been bullish on cryptocurrencies for quite a while. Recently, another analyst that I know and respect, Steve Sjuggerud, climbed on board.
I read these guys to keep up. Here’s something from Teeka that sheds light on what’s been going on this year…