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It’s funny that the bitcoins in the picture appear to be gilded! They ought to drape the bitcoins in pure nothingness …
Bitcoin 1242? Just yesterday it was $1000. As I have no idea what either chart suggests, I will have to say bitcoin looks more attractive than gold.
I’m figuring that bitcoins, ethereal, phantom cyber ciphers that they are, is a “machination” to divert money from moving into gold.
Sure feels that way to me Charles, Andrew
When bitcoin was $50, you could have said “Which would you rather own, a bitcoin or a gram of gold”. You would have done much better with the bitcoin than the gram of gold. Who’s to say whether a bitcoin should be worth an ounce of gold, 3 ounces of gold, or a pound of gold ?
When they shut off your Bitcoin “wallet”, guess what your Bitcoins will be worth ? And anyone who thinks that isn’t going to happen is deluding themself.
Do you need any more proof that anything can be manipulated by the financial sociopaths.
How exactly is this proof that things are being manipulated by financial sociopaths ? Why do these sociopaths want to manipulate the price of bitcoin up so much ?
I like to have some of both. My feelings are that bitcoin may prove out to be a very viable long term payment system and gold, silver and bitcoin and perhaps some of the other cyber currency prices will closely track each other. True wealth will always be represented by hard assets but an economical payment system that excludes the current fraudulent central banking fiat monetary world is really needed.
All I know is, if I had converted all my gold holdings into bitcoins when they were $60, I’d have been 20 times richer when bitcoin hit 1200. Unfortunately, I didn’t. 🙁
I can wrap my head around precious metals going up or down due to contracts, futures, mining, regulations, imports/exports however what exactly is causing bitcoins(and other virtual currencies) to sky rocket? You have something that doesn’t cost anything to make or create but value is growing inexplicably and exponentially. If it can go up this fast, there should be no reason why it can’t go down just as fast. This reminds all too much of the domain name bubble. Virtual real estate sky rockets and then crashes. Tulips?
Oh Tulips, that’s an original comment. I’d have to remind you that while gold has a multiple-thousand year value behind it, it too once started out worth nothing. And the answer to your question (what is causing bitcoins and other virtual currencies to skyrocket) is two-fold; demand (coupled with limited supply), and excess liquidity provided by the Fed.