Gold Silver Reports – See Bitcoin as a Lottery, Not an Investment – A tea seller in Mumbai’s newest corporate hub claims to have bought 4 bitcoins, at Rs1 lakh each, in May 2017. He is already sitting on a handsome profit, given the price of Rs13.64 lakh per bitcoin—as per Coinome as on 19 December. However, he says he will wait till next year when the price would be around Rs15 lakh a bitcoin. On being asked how he knows for sure that the price will move to that level, he responded with an assured, “Aap dekhna (you’ll see).”
digital asset
Bitcoin Fascination Feels Like ‘Speculative Mania,’ RBA Says
Gold Silver Reports – Australia’s central bank chief made a scathing assessment of Bitcoin, saying the cryptocurrency that’s soared above $17,000 is more likely to appeal to criminals than consumers.
Bitcoin Futures Trading Opening Brings Crypto to Wall Street
Gold Silver Reports – Bitcoin Futures Trading Opening Brings Crypto to Wall Street – Bitcoin has landed on Wall Street, and it was welcomed by traders. Cboe Global Markets Inc. started letting people buy and sell bitcoin futures Sunday evening.
Bitcoin Looks like Bubble, New Zealand’s Central Banker Warns
Gold Silver Reports – Bitcoin spectacular gains look like a speculative bubble and the cryptocurrency is too unstable to be useful in the future, New Zealand’s central banker said.
A Winklevoss sees Bitcoin Surging as much as 20 Times Higher
Gold Silver Reports – Cameron Winklevoss, thought to be one of the largest holders of bitcoin, thinks the cryptocurrency’s blazing gains this year are just the start. He predicts it will rise as much as 20-fold as investors come to view it as an upgrade to gold.
Bitcoin and Gold: A Growth Comparison | Gold Silver Reports
Gold Silver Reports – Bitcoin and Gold: A Growth Comparison – An inherent tension exists between the two major purposes of money. Currencies that are perceived as great stores of value, such as gold and bitcoin, make for poor mediums of exchange. By contrast, currencies that are effective mediums of exchange, such as fiat currencies used the world over, can make for dubious stores of value. Where a currency falls on the store of value versus medium of exchange spectrum influences its usefulness as a unit of account and a standard of deferred payment.
Bitcoin Breaches $13,000 as Futures Move Closer to Reality
Gold Silver Reports – Bitcoin topped $13,000 for the first time, pushing this week’s gains to more than 30 percent amid speculation that the use of futures will help make digital currencies a legitimate asset class for mainstream investors.
Bitcoin Mania In Context: Cryptocurrency Is Still a Tiny Asset
Gold Silver Reports – Bitcoin Mania In Context: Cryptocurrency Is Still a Tiny Asset – Bitcoin’s blistering rally needs to be viewed with some perspective.
The Long and the short of Bitcoin’s Diverse Futures
Sydney: “Why did the market go up today?”
“There must have been more buyers than sellers.”
That piece of circular logic is a sort of laconic joke among traders, equivalent to saying: “I have no idea.” Naturally, prices will only rise if the enthusiasm of buyers outweighs the fear of sellers.
Bitcoin Loses over a Fifth of its Value in Less than 24 Hours
Gold Silver Reports – Bitcoin slid to as low as $9,000 on Thursday, having lost more than a fifth of its value since hitting an all-time high of $11,395 on Wednesday.