Summary of “I bought $250 in bitcoin. Here’s what I learned”

While waiting for a flight to Nashville, I pulled up a popular application called Coinbase that can be used to buy and sell bitcoin.
For 15 minutes at the airport, I refreshed the price of bitcoin over and over, watching as it gained and lost hundreds of dollars in a matter of minutes.
JPMorgan Chase CEO Jamie Dimon recently called bitcoin a “Fraud” and suggested people who buy it are “Stupid.” Warren Buffett called bitcoin a “Mirage” in 2014 and warned investors to “Stay away.”
Yet bitcoin has climbed more than tenfold since Buffett’s warning.
A key reason the price of bitcoin keeps going up is, well, because it keeps going up.
If I use bitcoin to buy $25 worth of socks on Overstock today, and the price of bitcoin quadruples next week, I’ll feel like those socks actually cost me $100. Then again, if bitcoin crashes, at least I’ll always have the socks.
Bitcoin is built on the blockchain, a public ledger containing all the transaction data from anyone who uses bitcoin.
My original $100 bitcoin purchase won’t officially be completed on Coinbase until Friday, more than a week after the transaction.

The orginal article.