Gold is a USD 7 trillion dollar market.Though crypto is only a USD 20 billion market today, it is expanding rapidly. Even though crypto is booming today, there is a common sense case to convert bitcoin to gold.
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. :)
This post has been ranked within the top 80 most undervalued posts in the second half of Dec 27. We estimate that this post is undervalued by $4.34 as compared to a scenario in which every voter had an equal say.
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.
i hop so bitcoin shold be the new gold
It sure looks like it is headed that way...
Thanks for the comment :)
I think we are not far from it!
What if everyone can choose their money?
Gold is a USD 7 trillion dollar market.Though crypto is only a USD 20 billion market today, it is expanding rapidly. Even though crypto is booming today, there is a common sense case to convert bitcoin to gold.
When gold is money once again, there is a reasonable case to convert bitcoin or other crypto-currencies to gold.
You can make gold your money today.
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
This post has been ranked within the top 80 most undervalued posts in the second half of Dec 27. We estimate that this post is undervalued by $4.34 as compared to a scenario in which every voter had an equal say.
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