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In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase.

One day we're going to look back at $1,700 with nostalgia. People are going to be shocked at how inexpensive gold was when it could be snapped up for such a bargain price.

Bitcoin woke us all up to a new way to pay, and culturally, I think a much larger percentage of us have become accustomed to the idea that money no longer comes with the friction it once had.

Bitcoins can be traded or used for purchases, but only with those sellers who will accept them. Because it is a system independent of external meddling, there can be no sudden devaluation of Bitcoins through the actions of governments.

We are beginning to see that money, after all, is not the main thing. The real values cannot be bought and sold.

Bitcoin's got its issues. But it is not competing with perfection.

Sudden money is going from zero to two hundred dollars a week. The rest doesn't count.

In a sense, there is no such thing as a bargain in computing. Models which are popular sell for the price they are supposed to fetch for the best part of their product cycle.

But my system for over 30 years has been this: When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30.

Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.