- Feb 11, 2005
- Reaction score
Not long ago a merchant found many monkeys living near a certain village.
One day he came into the village stating that he wanted to buy these monkeys.
He announced that he would buy the monkeys for $100 each.
The villagers thought that this man must be crazy - How can somebody buy stray monkeys at $100 each?
Still people caught some monkeys and sold them to the Merchant for $100 each.
This news spread like wildfire and more people caught monkeys and sold them to the Merchant.
After a few days, the Merchant announced that he would now buy monkeys for $200 each.
The laziest villagers now ran around to catch the remaining monkeys!
They sold the remaining monkeys at $200 each.
The Merchant then announced that he would buy monkeys for $500 each!
The villagers start to lose sleep! They caught six or seven monkeys, which was all that were left and got $500 each.
The villagers were awaiting anxiously for the next announcement.
Then the Merchant proclaimed that he is going on holiday for a week, but when he returned would buy monkeys at $1000 each!
He also said that in his absence his Employee would be in charge to take care of the monkeys he had purchased.
The Merchant went on holiday.
The villagers were frantic and very sad as there were no more monkeys left for them to sell at $1000 each as promised by the Merchant, but then the Merchant's Employee publicized that he would secretly sell some monkeys at $700 each.
The news spread like wildfire as the Merchant had promised that upon his return monkeys would be purchased for $1000 each, a $300 profit for each monkey.
The next day the villagers queued up near the monkey cage.
The Employee sold all the monkeys at $700 each. The rich villagers bought monkeys in large lots, and the poor borrowed money from money lenders and bought the rest of the monkeys.
The villagers took care of their monkeys and waited for the Merchant to return.
When the Merchant didn't return they searched to for the Employee, but he could not be found either.
Eventually the Villagers realized that they have been duped into buying the useless stray monkeys at $700 each and were now unable to sell them for any amount.
This Monkey Business is now known as cryptocurrency.