Tag - Bitcoin
Monday, January 28 2019
By GCRU Gold News on Monday, January 28 2019, 01:29
“Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it's going the other way.”
“Not only have we lost all liquidity on the underlying commodity but truly outside of the existential blockchain argument, it's been very difficult to argue store of value which is really what we started hearing about. Gold is a store of value and there's no disputing that.”
Thursday, June 14 2018
By GCRU Gold News on Thursday, June 14 2018, 02:04
For centuries, gold has held a unique role: as a form of currency, a store of value and sometimes a speculative or alternative asset to stocks and bonds. No other asset has managed to retain such an allure over time.
And over the centuries, there have been other pretenders for gold's throne (salt, florins or ducats, anyone?) but none has survived. The latest potential competitor for gold may be bitcoin, the cryptocurrency created in 2009 as open-source software for a decentralized form of payment.
Thursday, April 12 2018
By GCRU Gold News on Thursday, April 12 2018, 12:34
Now if only gold could break out like Bitcoin....up 1000 in 30 minutes...
Both gold & bitcoin are set to breakout as safe-haven assets under strong demand.
By GCRU Gold News on Thursday, April 12 2018, 09:50
The difference between Bitcoin & other bubbles.
Thursday, January 25 2018
By GCRU Gold News on Thursday, January 25 2018, 22:54
Bitcoin’s parabolic price rise was the big story of 2017 – putting the spotlight on the cryptocurrency market. While gold’s performance was a solid 13%, it was a fraction of the 13-fold increase of bitcoin by the end of the year.
Wednesday, January 24 2018
By GCRU Gold News on Wednesday, January 24 2018, 02:10
The seventh network effect is going to be world reserve currency status. That’s when bitcoin becomes a reserve asset much like gold or the dollar.
Thursday, January 18 2018
By GCRU Gold News on Thursday, January 18 2018, 23:42
“It is likely that cryptoassets such as Bitcoin will emerge as their own asset class and thus have the potential to develop into an interesting investment and diversification instrument. Bitcoin itself could over time assume a similar role as gold.”
“As an asset, however, Bitcoin and alternative blockchain-based tokens should not be neglected. The innovation makes it possible to represent digital property without the need for a central authority. This can lead to the creation of a new asset class that can mature into a valuable portfolio diversification instrument.”
Friday, January 5 2018
By GCRU Gold News on Friday, January 5 2018, 02:12
Mr Ndoum said central banks in Africa “may buy euros, Swiss franc, or Australian dollar or New Zealand dollars but they can also invest in this bitcoin because big investors in the world believe that this bitcoin will be a new digital reserve currency and reserve currencies are for central banks, and the central banks also have the technical capability to make a decision on this.”
He believes that the digital currency is the future of value and banking, “They central bank have the people and staff who can study the technology, the regulation and can make a decision.”
What if this continent could finally build consensus around a new digital reserve asset – and figure out ways to fund infrastructure development by leveraging it?
Thursday, December 28 2017
By GCRU Gold News on Thursday, December 28 2017, 01:35
Interesting comments on the "digital gold" from way back in the 1990's.
I remember goldbugs citing Lord Rees-Mogg when touting the gold case way back then....(:-)))
Friday, December 8 2017
By GCRU Gold News on Friday, December 8 2017, 01:06
For more than 15 years, APMEX has been an industry leader and along the way has adapted to the growing needs of our customer base. As bitcoin becomes more popular and widely accepted as payment, we are thrilled to welcome the use of this cryptocurrency for buying Gold, Silver and other Precious Metals by integrating BitPay into our website.
With BitPay integration, APMEX customers can now pay using bitcoin and complete their order in seconds. Because bitcoin works like cash for the Internet, customers enjoy a quick process, as the only delay is in the “mining” required of all bitcoin purchases. Additionally, all eligible bitcoin orders will be processed and shipped within one business day of your payment’s clearing and processing with the QuickShip® guarantee (domestic orders only).
Buyers can make purchases with bitcoin at any time, from nearly anywhere, just as with most credit cards. International orders become significantly easier as cryptocurrency like bitcoin is accepted worldwide without conversion. Also, many customers prefer Bitcoin payment because of the anonymity offered by a blockchain purchase.
Wednesday, December 6 2017
By GCRU Gold News on Wednesday, December 6 2017, 05:32
Bitcoin could join gold as a reliable, long-term way to store wealth as the cryptocurrency gains users and value in a craze which JP Morgan’s analysts believe may turn into something resembling a more traditional asset class.
Friday, November 24 2017
By GCRU Gold News on Friday, November 24 2017, 02:04
The manager of Old Mutual Gold & Silver Fund, a precious metals fund with over $220 mln under control has said Bitcoin is “paving the way” for a global gold comeback.
“Bitcoin was explicitly designed to be digital gold,” he said.
“So if you’re going to have a small proportion of a fund in Bitcoin, it should be in a gold fund because that’s exactly the point.”
Tuesday, November 21 2017
By GCRU Gold News on Tuesday, November 21 2017, 02:42
Sure, a fiat money system where central banks can and do literally print money at will has its weaknesses. That’s why hard assets like gold are so popular among smart investors: as real stores of value, they provide a safety net against currency depreciation.
However, it’s doubtful that the same applies to cryptocurrencies. Despite what the crypto-evangelists will tell you, digital tokens will never and can never replace gold as your financial hedge.
Thursday, November 16 2017
By GCRU Gold News on Thursday, November 16 2017, 23:31
“More people are now searching online for how to buy bitcoin than they are searching for how to buy hold,” according to Google Trends. Gold is the classic hedge against stock market volatility, especially during downturns.
It certainly doesn’t help to have a booming stock market at the moment along with a new commodity asset in cryptocurrencies. Leaving out the entirety of the legacy markets, bitcoin alone has appreciated many hundreds of percentages in just 2017.
The latest World Gold Council report of 8 November 2017. It “showed demand for bullion fell to 915 tonnes in three months to September, down 9 per cent from the same period a year ago.”
Saturday, November 11 2017
By GCRU Gold News on Saturday, November 11 2017, 01:40
We were one of Wheaton Precious Metals’ seed investors in 2004, when it was known as Silver Wheaton. Because Franco-Nevada wouldn’t be spun off from Newmont Mining for another three years, Wheaton had first-mover advantage. It was something new, something different. This, coupled with what I recognized as a superior business model, gave me the conviction to allocate capital into the fledgling company, a move that turned out to be highly profitable.
Today I have the same conviction in blockchain technology and digital currencies. As of the end of October, the initial coin offering (ICO) market had raised $3 billion so far this year. That’s more than seven times the amount generated in crowdfunding in all of the previous years before 2017. And Bloomberg just reported that Google searches for “buy bitcoin” recently surpassed searches for “buy gold.”
Wednesday, November 8 2017
By GCRU Gold News on Wednesday, November 8 2017, 02:56
In this interview, Ammous explains why bitcoin is valuable, why it is so close to and in some respects even better than gold, and why it could usher in an era of sound money for the 21st century.
Thursday, November 2 2017
By GCRU Gold News on Thursday, November 2 2017, 22:04
Wednesday, October 18 2017
By GCRU Gold News on Wednesday, October 18 2017, 11:10
Gold wins out over cryptocurrencies when assessed on the majority of the key characteristics of money, according to Goldman Sachs Group Inc., which adds that fear and wealth are the core drivers of bullion.
“Precious metals remain a relevant asset class in modern portfolios, despite their lack of yield,” analysts including Jeffrey Currie and Michael Hinds wrote. “They are neither a historic accident or a relic.” Looking at properties such as durability and intrinsic value, they are still relevant even with new materials discovered and new assets emerging, such as cryptocurrencies, they said
Friday, October 13 2017
By GCRU Gold News on Friday, October 13 2017, 23:11
Gold has for hundreds of years been a safe haven of steady growth investment, due to its stability and attachment to geopolitical events. Through the years, and changes in monetary policies, even the inflation of currencies, gold has remained steady.
However, there’s a new kid on the block when it comes to a store of wealth, especially one that is unmatched by any centralized authority. Bitcoin has been ruling the roost when it comes to asset growth that is similar to gold.
Sunday, October 8 2017
By GCRU Gold News on Sunday, October 8 2017, 11:42
Bitcoin and all the other cryptocurrencies are gaining traction, that is clearly shown by trading volumes and Google search data.But the traction the cryptocurrencies have gained is NOT killing the physical gold market.
However, I do believe the junior mining executives will have to do a better job of retaining and attracting the speculative dollars available to buy their stock. Now, more so than ever, speculators have access to new or previously forbidden sectors like cryptocurrencies and the 400+ marijuana companies in North America. Weak and struggling junior resource stocks will wither and die at faster rates.
Like it or not, gold executives and gold investors, you have a major new competitor in the form of cryptocurrencies.