Last year, Bitcoin became more stable than gold, and earlier this year, the price of a Bitcoin surpassed that of an ounce of gold for the first time.Usually both sides are happy with the trade when agreement is reached.A silver or gold coin may actually be pretty useful in that situation.Do I think that will improve my life, even if I do get filthy rich.But gold and silver have little utility and hence value for such transactions.
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Need to know how much a Bitcoin is worth? Ask Bing – GeekWireAs a currency less so. the problem with money is that most of the individuals in an economic system must recognize and accept the particular store of value as just that.
I have read more than enough anthropology texts, papers, and the lot to know better than to take their word as gospel.The exact sort of problems to verify, have implications on how the composition of those doing the verification will look.There are a close to infinite number of paper currencies as well (Ever monopoly set comes with one.). Ditto for metals and metal combinations to mint coins from.
Not for no reason do central banks hold such a large portion of exiting gold.The fact that you need to declare it, means they can easily block it, should they feel like it.They are all city kids who have usually never had a real job in their lives and have limited world experience.
Read my reply to Mr Sellers. what we are talking about is human behavior and how money actually works.But not very many, either. the whole point of money is that it should provide convenience to users.
Wait, the price of Bitcoin is how much? - mashable.comThe value of the unit should be believed to be sound, as in not erratic.I bought a very nice cooler off Amazon with Bitcoin as well. Just sayin.In both cases, a predictable inflation rate not open to debasement by any party, hence vastly increased economic predictability, visibility, equity and efficiency.Let me try it a different way: An investment in Bitcoin is an investment in bringing Jihad to America.
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The Cost of Bitcoin – Stratechery by Ben ThompsonAs shown by so many of our central banks, our stores of value tend to become less certain as to their real values.Precious metals may, over time, be far more stable as a store of value but their utility comes into question.Well, what about those Eastern Woodland Indian types and their long houses.I carry more than 10k in monetary instruments on planes all the time.But if Bitcoin is ever to become pervasive enough that that is all the fiat that is needed, it will need to become much, much less volatile.
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Bitcoin has higher volatility but it can be part of your portfolio if you adopt the right strategy.After years of volatility, the Bitcoin price forecast is finally on an upward trek through 2017 and beyond.If we are paid for our labor in cows and if those caw are defective and likely to drop dead at any moment then we will buy all and anything that could be used as an asset or commodity in barter.The same goes for gold: it derives its value solely from its rarity, combined with its desirability.I am hoping Bitcoin can overcome its current problems without splitting into two or more networks.Infinite cryptocurrencies can be created (like infinite types of fiat money can be created), but one of them will be the leader and concentrate the most value.All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy.
However, there are some obstacles preventing the mass market from fully embracing the online currency.When a vendor with a normal profit margin takes bitcoin he is at risk of losing his entire profit by holding bitcoin for anytime at all.