A sudden avalanche of folks have been asking about this pitch again, so I thought Id re-share and update my thoughts on something I wrote in the Friday File for the Irregulars back in October of 2013 so yes, this is getting a little old. Much of this is from that original note, or from my update back in January of 2014, though Ive gone through and updated my thoughts (and some of the numbers) a little bit.

From my quick glance, the core of the spiel from the Stansberry folks hasnt changed much for this Secret Currency since then, other than to call it the #1 Cryptocurrency now that that term has entered the popular lexicon (and indeed, the ad is not dramatically different than it was when I first covered similar ads of theirs five or six years ago).

The one thing thats particularly different in the last year or two is that they use the curiosity about Bitcoin to catch your attention

The ad back in 2013 started out as a warning about Bitcoin:

Urgent Message for U.S. Investors:

Do NOT buy Bitcoin until you watch this public message

This is the true story of alternative currencies in America the one you wont hear anywhere else. The story only wealthy families know. Please take five minutes to watch this message and avoid making a very costly Bitcoin mistake.

And then went on to compare Bitcoin to a host of past internet failures or value-destroyers like Webvan and Pets.com and Groupon, and then makes the argument that the secret currency does the same things Bitcoin does (provide some privacy, get away from the US dollar, etc.).

Which is sort of true I have some experience with both this secret currency and with Bitcoin, I tinkered with Bitcoin myself for a to see how it worked and whether it might be a viable alternative to using credit cards, and Im not all that impressed with how useful it might become at the moment though I still have maybe half a bit coin sitting in a wallet somewhere.

This is how they introduce the ad now:

Continue reading here:

Americas #1 Cryptocurrency: The Secret Currency ...