Are the Gold Bugs finally noticing Bitcoin ?
It appears so according to some recent videos released by some of the precious metals most ardent advocates. Bitcoin could well be the next gold.
In a recent Q&A Mike Maloney tells us he does own Bitcoin, but is that a bad thing ?
Peter Schiff and Jim Rickards have long been advocating the use of cryptocurrency as a "way out" of fiat currencies. But are we moving from the frying pan into the fire ?
In a market as small as the crypto-sphear I can certainly foresee "Big Money" cornering the market one day.
Could this be the chance for Steem to truly shine? Or will George Soros flag your post just for fun?
Just a thought....
It is all so fragile as we move from one monetary system to another, this time will not be as smooth as the prior times... seat belts required.
I couldn't agree more. I think it is very possible we're going to see some hard times ahead for all currencies...
I don't have very much of any, but I reckon a little of everything is better than a lot of only one at the moment...
Thanks for the reply.
Yes, it seems the trend is towards using Bitcoin as an asset equivalent to gold, in that it is rare and difficult to mine. As for Big Money cornering the market, it is theoretically possible to control the market of a coin. However, the ease with which a person can switch out into a different cryptocurrency would probably make it a strategy of little value. Besides, perhaps all this volatility Bitcoin suffers is the result of market manipulation. :)
I would agree market manipulation moves the current market, but I am unsure if it is deliberate or simply supply and demand.
China deciding they want Bitcoin for example makes a huge move upwards, but I'm sure that is not done simply to manipulate the price..
I think, and hope; this is where the alt coins will start to shine...
Great post. Less able to be manipulated if lots of people pile in.
If we pile in and hold on for dear life :)
But "Big Money" can pry things out of weak hands lol
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