Tom Dyson’s “Bit Shares” that turned every $100 into $1,400

What digital currency is Teeka Tiwari talking up?

By Travis Johnson, Stock Gumshoe, March 29, 2017

The first version of this story was published on July 28, 2016 under the headline Palm Beach: “Issuing a strong ‘buy’ recommendation for ‘the next Bitcoin.'”
Tom Dyson, Teeka Tiwari’s publisher at Palm Beach, has a new pitch out for these cryptocurrencies, which he calls “Bit Shares,” again touting Ethereum and Bitcoin but also adding a couple others to the mix. Bitcoin and Ethereum are what he calls “Bit Shares Opportunity 1 and 2”, but they have also added some of the smaller cryptocurrencies to the pitch in this latest version.

What follows is my piece digging into Teeka Tiwari’s “next bitcoin” ad that was hinting about Ethereum last Summer, and at the end I’ll check back in with a quick update, and we’ll see if we can ID those other two cryptocurrencies.

–From 7/28/16–

I can’t help it, my first reaction when folks talk to me about alternative currencies and digital currencies is, “boy, that’s stupid. What’s the point?”

But I’m trying to be open minded, and I’m willing to learn.

My base assumption when it comes to privately created currencies like Bitcoin, which is the most famous one to date, is that the technology may be valuable but there’s no particular reason to place a specific dollar amount on the value of each digital piece of the currency. The value is in the ability to transfer money from one person or entity to another safely and quickly, but I think there is very little chance that governments around the world will cede control to a blockchain and allow it to be legal tender, or that it will supplant precious metals as a permanent “store of value.”

I’d say bitcoin has been a disappointment in terms of how much real world use it has gotten (as in people actually using bitcoin, not just trading it back and forth because they’re convinced that their local currency is being debased or because they smell a speculative opportunity), and I expect that will continue …

… but perhaps we’ll get to the point (and banks are genuinely researching and testing blockchain technologies) where the ideas behind bitcoin are a key part of the financial system. It’s just that I think we’ll still convert every dollar to bitcoin before it enters that blockchain, then convert it back to dollars as it leaves, all within a few moments — bitcoin makes sense to me as a transfer technology, but not as something you use to sock away your savings in a bitcoin wallet.

Which isn’t to say I’m unwilling to test it out. I speculate on lots of dumb things (in fact, my last “Idea of the Month” piece for the irregulars was all about dumb and speculative things I’m trying with small amounts of capital), and I have a small amount of bitcoin that I bought when I was experimenting with it a couple years ago and seeing whether it would be of any help to me (or a help to my business, as an alternative to accepting credit cards).

I didn’t find it all that convenient or useful, but I’ve still got a bitcoin wallet with a small amount of bitcoin in it… and it’s a small enough amount that I don’t need the money to pay my bills, so