Is Bitcoin the next monkey business?

A lot of stray monkeys lived near a village in India.

One day a merchant came to the village to buy these monkeys! He announced that he is seeking to buy monkeys @ $100 each. The villagers thought that this man is crazy to want to buy stray monkeys at $100 each.

Only few people caught some monkeys and sold them to merchant at $100 each. This went on for few days attracting more sellers.

After a few days, the merchant returned to announce that he will now pay $200 for each monkey. Even the lazy villagers got off their behinds to catch the remaining monkeys! And they were paid twice at $200 per monkey.

The merchant returned to the village after a few days to announce that the village monkeys are very much liked by his ‘potential customers’, therefore the price he was willing to pay for each monkey is now a whopping $500!!

The villagers started to lose sleep! After searching every tree and monkey hiding place thoroughly, they were able to find only six or seven monkeys, which was all that was left and were paid $500 each.

The villagers went to all the neighboring villages to find monkeys in case the merchant returned for more monkeys at even higher price. However they had very little luck finding a single monkey.

As expected and hoped, the merchant returned to announce he is planning to return in a week to buy more monkeys - this time at the unbelievable price of $1000!!! He also asked the villagers to help his employee take care of the monkeys he bought so far until he returns.

The villagers were very sad as there were no more monkeys left for them to sell for $1000 each. His employee employee, however, offered to make a secret deal with them selling part of the inventory for $700 per monkey to the villagers.

This seemed like a great news to the villagers. They figured they can’t go wrong making riskless $300 profit from each monkey they sell back to the merchant.

The next day, villagers lined up near the monkey cage. The employee sold all the monkeys at $700 each. The rich bought monkeys in large lots, while the poor borrowed money from money lenders and purchased fewer monkeys.

The villagers then took care of their monkeys & waited for the merchant to return. But he never did! Then they tried to find his employee. But he had disappeared too!

The villagers then realized that they have bought the useless stray monkeys @ $700 each and are unable to resell them.

Is Bitcoin going to be the next monkey business? It is likely to bankrupt a lot of people while enriching only a smart few.

Now you know! What are your thoughts?