Tag - Bitcoin
Wednesday, August 16 2017
By GCRU Gold News on Wednesday, August 16 2017, 01:17
t seems that VanEck is still a firm believer in gold, and perhaps a little worried about the effect of a new digital gold on its primary asset. But they are not foolhardy enough to ignore the investment potential of Bitcoin.
Saturday, July 8 2017
By GCRU Gold News on Saturday, July 8 2017, 00:22
Investors have cash to burn right now, and based on the astronomical performance of cryptocurrencies like bitcoin and Ethereum, that’s where a lot of it is getting funneled.
This is coming at the expense of gold, says Tom Lee, the managing partner and head of research at Fundstrat Global Advisors. In fact, he thinks that the growing preference for the cryptocurrencies over gold is actually helping contribute to the torrid gains in the fledgling products.
Monday, June 26 2017
By GCRU Gold News on Monday, June 26 2017, 09:00
Cryptos doing what goldstocks do...
By GCRU Gold News on Monday, June 26 2017, 05:58
I have added in a new section for subscribers covering the Crypto Currencies
There's 1/2 dozen pages which show the top currencies & how they have performed.
It's a Wild West World which seems very similar to speculating in gold stocks.
Lots of hype speculation profits & losses.
Prepare to be amazed.
Tuesday, May 30 2017
By GCRU Gold News on Tuesday, May 30 2017, 00:46
I am by no means an expert, but have at least owned bitcoins, mined them, and even arb’ed them across various exchanges. I use the word “I”, but in reality, it was with the help of my co-worker, the millennial computer engineer whiz kid that sits beside me. This is the story of my great bitcoin bungle, a tale painful to repeat, but should really be put to paper, so I can forever remember, what a knob I am…
Sunday, May 14 2017
By GCRU Gold News on Sunday, May 14 2017, 00:53
Global governments, having previously removed metals' backing from the currencies they print, now attempt to force their citizens into holding only digital paper currency "wealth." How ironic it will be, if by these very actions, the ultimate effect turns out to be the unleashing of new demand waves for digital metal – redeemable for physical gold and silver.
Saturday, March 4 2017
By GCRU Gold News on Saturday, March 4 2017, 07:26
Would you rather have one bitcoin, or a single ounce of gold?
The answer used to be obvious. Even at the climax of the legendary 2013 rally, bitcoin was never able to reach unit-for-unit parity with gold.
However, since an off-year in 2014, the enigmatic cryptocurrency has steadily climbed in price to take the title of the best-performing currency in both 2015 and 2016. And today? After continuing its rally into 2017, the price of bitcoin has now passed this arbitrary, but psychologically important measure of parity with an ounce of gold.
How did we get here so fast?
Friday, March 3 2017
By GCRU Gold News on Friday, March 3 2017, 02:56
For the first time ever (based on Bloomberg data), Bitcoin is trading at parity with an ounce of gold.
Saturday, February 25 2017
By GCRU Gold News on Saturday, February 25 2017, 00:21
Bitcoin topped $1200 overnight for the first time, bringing it ever closer to the price for an ounce of gold...
As Bloomberg notes, a ten-day rally for the cryptocurrency has narrowed its gap with the precious metal to the smallest on record.
Sunday, January 8 2017
By GCRU Gold News on Sunday, January 8 2017, 01:56
The price of Bitcoin seems to have exceeded the price of gold for the first time; however, this comparison is completely arbitrary. Gold is measured in weight, while Bitcoin, much like currency, is an abstract form of money and can only be measured in units of itself. One Bitcoin is worth a lot more than 1 gram of gold, but a lot less than 1 tonne. Despite Bitcoin’s stellar performance in 2016, the size and depth of the cryptocurrency market is dwarfed by the $7 trillion gold market. Gold remains the only true global money with a size and volatility comparable to that of fiat currency.
Wednesday, January 4 2017
By GCRU Gold News on Wednesday, January 4 2017, 09:36
Bitcoin is no stranger to extreme fluctuations.
For each of the last four years, the cryptocurrency has either been the best or the worst performing currency – with nothing to be found in between.
Luckily, for those that follow the digital currency closely, those fluctuations were mostly pointed in an upwards direction for 2016. The currency finished the year at $968.23, which is more than double its value from the beginning of the year.
Sunday, October 30 2016
By GCRU Gold News on Sunday, October 30 2016, 00:27
Since then bitcoin has tripled, and over the past two days has broken out sharply to the upside once again, now over 10% higher in the just the past week. The latest round of buying took place overnight with major bids emerging from China, which have taken the price of bitcoin on the most popular US trading platform, Coinbase, to $725 as of this writing.
Saturday, August 6 2016
By GCRU Gold News on Saturday, August 6 2016, 00:34
After suffering a crippling hack earlier this week, Hong Kong-based bitcoin exchange Bitfinex said it may spread the loss among its users, including ones not directly impacted by the hack.
“We are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions,”
Wednesday, August 3 2016
By GCRU Gold News on Wednesday, August 3 2016, 01:13
Bitcoin prices are crashing on extremely heavy volume - down over 30% in the last 2 days - after Hong Kong-bassed Bitcoin exchange Bitfinex halted all trading after it discovered a security breach. As CryptoCoinsNews reports, the theft of 119,756 bitcoins has now been conclusively confirmed which makes it the largest theft in bitcoin’s space since MT Gox.
Representatives from the exchange told CoinDesk engineers were seeking to uncover issues at press time, though the company had confirmed roughly 120,000 BTC (more than $60m) has been stolen via social media.
Tuesday, August 2 2016
By GCRU Gold News on Tuesday, August 2 2016, 09:41
Bitcoin has been called 'digital gold', but does this mean the two markets behave similarly?
This relationship has been top of mind for industry observers for some time, as media coverage has often championed the idea bitcoin is a new 'safe haven' asset.
But while some market observers have claimed there is a correlation between bitcoin and gold, members of the digital currency trading community disagree. Further, some have collected data they believe shows this relationship is speculative at best.
Wednesday, July 13 2016
By GCRU Gold News on Wednesday, July 13 2016, 08:34
Globally, gold is still an asset with higher volumes than bitcoin. As claimed by the London Bullion Markets Association, the average daily value of gold transfers is roughly US$ 20 billion, whereas bitcoin trades amount to over US$ 1.5 billion.
Such market data as well as recent developments indicate bitcoin is increasingly being perceived as a new safe-haven asset, to which investors can resort in times of crisis. In short, it is a genuine competitor to gold. The big difference is the thousand years track record of gold against just seven years of bitcoin.
Sunday, June 12 2016
By GCRU Gold News on Sunday, June 12 2016, 08:16
Monday, May 9 2016
By GCRU Gold News on Monday, May 9 2016, 00:35
Sunday, March 13 2016
By GCRU Gold News on Sunday, March 13 2016, 23:06
Computer scientists have devised a digital crypto-currency in league with the Bank of England that could pose a devastating threat to large tranches of the financial industry, and profoundly change the management of monetary policy.
The proto-currency known as RSCoin has vastly greater scope than Bitcoin, used for peer-to-peer transactions by libertarians across the world, and beyond the control of any political authority.
Sunday, December 13 2015
By GCRU Gold News on Sunday, December 13 2015, 22:41
The Sydney businessman outed as the possible creator of Bitcoin paid almost $85 million worth of the digital currency to a controversial business figure to buy gold in an attempt to build his business, according to a Federal Court claim.