“Two centuries ago, oil was less than worthless. It was a blight that people would pay to have removed from their land. However, suppose one day a mysterious stranger appeared claiming to be a time-traveler. He told everyone that one day oil would be the world’s most valuable fuel. It would called ‘black gold’. Wars would be fought over it and enormous machines would be built to collect every last drop. Though no one knew if the purported time traveler was telling the truth or how to develop the technologies that would one day make oil valuable, some entrepreneurs believed him and began to collect oil to prepare for the day that it became black gold.”
http://coinconsultancy.com/2013/07/18/the-original-value-of-bitcoins/
Related posts:
Bill Bonner: How to Disappear Without a Trace
Robert Ringer: When Not to Save Money
He Volunteered to Go to Auschwitz
Keep Families Together: An Anarchist Christmas Message
Paul Craig Roberts: The Money Changers Serenade - A New Plot Hatches
The Forfeiture Curmudgeons
Money Down a Rathole: College, Healthcare, Housing
Living the Lockdown Life
The Rise of the Anti-State Cyber-Warrior
The future of work: on to a freelance model?
Three major fault lines in Syria! Will they explode?
The Dorm Boom: Higher Education’s Fellow Traveler
Withdrawing Political Legitimacy
The Financial System Doesn't Just Enable Theft, It Is Theft
Lisa Bowman: My Encounter With The Borg