Spencetology

Buttcoin

Like most of you, I don’t understand cryptocurrency. No clue. I suppose, I understand it, as a form of currency. I get that it exists digitally and it has value. But where do you get it?

I’ve read about people mining for it. Here’s an explanation of what that is: “Bitcoin mining is the process of creating new bitcoins by solving extremely complicated math problems that verify transactions in the currency. When a bitcoin is successfully mined, the miner receives a predetermined amount of bitcoin.’

Huh?

And, the energy it takes to mine just one bitcoin is equivalent to one house’s electricity usage over NINE years. Yikes! Is my math right on this? If my typical electric bill is, on average, $200 a month, $2400 a year, times nine, that would equal $21,600…for one bitcoin. I say again, “Yikes!”

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Suffice to say, I will never be a crypto financial whiz. All I know, in our current economic crisis, if it can be called that, crypto is taking a beating. It’s value peaked in 2021 at $64,000. At the writing of this blog it had dipped to slightly over $21k. If my calculations are correct, and I suspect they are not, you’re breaking even at this point.

My response? Why not combine two of my favorite things: cash and ass? I have invented a new cryptocurrency I call Buttcoin. What does it mean? I don’t know. How do you get it? Gots me. What is its value? Less than zero, I would assume, but what price can you put on immature, low-hanging fruit comedy? Learn more about Buttcoin.