Tag Archive: Bitcoin

Bitcoin Facts

2017-11-28

When we last wrote more extensively about Bitcoin (see Parabolic Coin – evidently, it has become a lot more “parabolic” since then), we said we would soon return to the subject of Bitcoin and monetary theory in these pages. This long planned article was delayed for a number of reasons, one of which was that we realized that Keith Weiner’s series on the topic would give us a good opportunity to address some of the objections to Bitcoin’s fitness as...

Read More »

Cool Video: Bitcoin Discussion on Bloomberg

2017-11-23

by Marc Chandler

2017-11-23

I had to be on Bloomberg's Day Break with David Westin and Alix Steel earlier today. We talked about the collapse of talks to put together a new coalition following the results of the September election. I suggested that the initial reaction was exaggerated, negotiations will likely resume in some fashion, and speculation of Merkel's demise are premature.

Read More »

New Gold-Backed Debit Card Launched In Partnership With MasterCard

2017-11-23

by Tyler Durden

2017-11-23

In recent years, there has been a major debate about the respective merits of gold versus Bitcoin, even though many, not all, gold bulls are also supporters of the latter. Gold advocates generally view favourably Bitcoin’s inherent characteristics of decentralisation, finite supply and ability to operate (so far) outside of the usual interference by western central banks.

Read More »

How Will Bitcoin React in a Financial Crisis Like 2008?

2017-11-09

by Charles Hugh Smith

2017-11-09

Whenever I raise the topic of bitcoin and cryptocurrencies, I feel like an agnostic in the 30 Years War between Catholics and Protestants. There is precious little neutral ground in the crypto-is-a-bubble battle; one side is absolutely confident that bitcoin and the other cryptocurrencies are in a tulip-bulb type bubble, while the other camp is equally confident that we ain't seen nuthin' yet in terms of bitcoin's future valuation.

Read More »

Let’s Clear Up One Confusion About Bitcoin

2017-11-09

by Charles Hugh Smith

2017-11-09

If bitcoin can be converted into fiat currencies at a lower transaction cost than the fiat-to-fiat conversions made by banks and credit card companies, it's a superior means of exchange. One of the most common comments I hear from bitcoin skeptics goes something like this: Bitcoin isn't real money until I can buy a cup of coffee with it. In other words, bitcoin fails the first of the two core tests of "money": that it is a means of exchange and a...

Read More »

World’s Largest Gold Producer China Sees Production Fall 10 percent

2017-11-07

by Jan Skoyles

2017-11-07

China Gold Mine Production 1H 2016 vs 1H 2017

Gold mining production in China fell by 9.8% in H1 2017. Decreasing mine supply in world’s largest gold producer and across the globe. GFMS World Gold Survey predicts mine production to contract year-on-year. Peak gold production being seen in Australia, world’s no 2 producer. Peak gold production globally while global gold demand remains robust.

Read More »

Each Bitcoin Transaction Uses As Much Energy As Your House In A Week

2017-11-07

by Tyler Durden

2017-11-07

While Bitcoin bulls will probably never have it so good as they have in 2017, we wonder whether many of them have stopped to think about the environmental downside of this roaring bull market. After all, back in the dot.com boom, people had ideas about potential internet businesses, issued pieces of paper representing ownership and watched their prices go parabolic parabolic.

Read More »

Global Asset Allocation Update

2017-11-05

by Joseph Y. Calhoun

2017-11-05

The risk budget this month shifts slightly as we add cash to the portfolio. For the moderate risk investor the allocation to bonds is unchanged at 50%, risk assets are reduced to 45% and cash is raised to 5%. The changes this month are modest and may prove temporary but I felt a move to reduce risk was prudent given signs of exuberance – rational, irrational or otherwise.

Read More »

Wozniak and Thiel Fuel Bitcoin-Gold Debate: Gold Comes Out On Top

2017-11-01

by Jan Skoyles

2017-11-01

Gold versus bitcoin debate makes further headlines as tech experts weigh in. Peter Thiel tells Saudi conference he believes bitcoin is underestimated and compares to gold. Steve Wozniak tells Money 20/20 that bitcoin is a better standard of value than gold and U.S. dollar. Both men recognise that the US dollar has little value and there are worthy competitors to its crown as reserve currency. Gold continues to hold its value and has multiple uses,...

Read More »

Gold Is Better Store of Value Than Bitcoin – Goldman Sachs

2017-10-29

by Jan Skoyles

2017-10-29

Gold is better store of value than bitcoin – Goldman Sachs report. Gold will continue to perform well thanks to uncertainty and wealth demand. Bitcoin’s volatility continues to impact its role as money. Gold up 12% in 2017, bitcoin over 600%. BTC is six times more volatile than gold – see chart.

Read More »

The World’s Largest ICO Is Imploding After Just 3 Months

2017-10-26

by Tyler Durden

2017-10-26

Earlier this summer, Tezos smashed existing sales records in the white-hot IPO market after the company’s pitch to build a better blockchain for cryptocurrencies made it one of the buzziest ICOs in the world. As we noted at the time, the company capitalized on that buzz by courting VC firms and other institutional investors with a $50 million token pre-sale. After the company opened up selling to the broader public, demand soared as investors...

Read More »

A Look Inside The Secret Swiss Bunker Where The Ultra Rich Hide Their Bitcoins

2017-10-25

by Tyler Durden

2017-10-25

Somewhere in the mountains near Switzerland’s Lake Lucerne lies a hidden underground vault containing a vast fortune. It’s no ordinary vault, according to Quartz. Built inside a decommissioned Swiss military bunker dug into a granite mountain, it’s precise location is a closely guarded secret, and access is limited by myriad security precautions.

Read More »

U.S. Mint Gold Coin Sales and VIX Point To Increased Market Volatility and Higher Gold

2017-10-15

by Jan Skoyles

2017-10-15

US Mint gold coin sales and VIX at weakest in a decade. Very low gold coin sales and VIX signal volatility coming. Gold rises 1.7% this week after China’s Golden Week; pattern of higher prices after Golden Week. U.S. Mint sales do not provide the full picture of robust global gold demand. Perth Mint gold sales double in September reflecting increased gold demand in both Asia and Europe. Middle East demand likely high given geopolitical risks. Iran...

Read More »

Dollar & Stocks Jump; Bonds & Bullion Dump In Lowest Volatility September Ever

2017-10-05

by Tyler Durden

2017-10-05

It has now been 318 trading days since the S&P 500 suffered a 5% drawdown - the 4th-longest streak since 1928... So everything is awesome...BUT...US 'hard' economic data has not been this weak (and seen the biggest drop) since Feb 2009...Q3 Was a Roller-Coaster...Q3 was the 8th straight quarterly gain in a row for The Dow - the longest streak since Q3 1997.

Read More »

Is The Swiss National Bank A Fraud?

2017-09-24

by Tyler Durden

2017-09-24

The price of shares in The Swiss National Bank is up 11 days in a row, soaring 150% in the last two months. That sounds like a 'tulip' bubble-like 'fraud'... The SNB is up over 120% in Q3 so far - more than double 'bubble' Bitcoin...

Read More »

Swiss National Bank Bubble Regains Lead Over Bitcoin

2017-09-22

by Tyler Durden

2017-09-22

But as Bitcoin rebounded from its China challenges, it overtook The SNB once again as bubbliest bubble. However, a 13% spike in the share price of The Swiss National Bank today has put an end to that leaving the central bank back in first place among the melter-uppers...

Read More »

Digital-Currency Milestone: Somebody Just Bought A House With Bitcoin

2017-09-21

by Tyler Durden

2017-09-21

A day after Bridgewater Associates Founder Ray Dalio claimed that bitcoin was “definitely in a bubble” partly because he said the digital currency was too difficult to spend, CoinTelegraph is reporting that the first-ever bitcoin-only real-estate transaction has been completed in Texas.

Read More »

Bitcoin Price Falls 40percent In 3 Days Underling Gold’s Safe Haven Credentials

2017-09-18

by Jan Skoyles

2017-09-18

Bitcoin price action shows cryptos vulnerable to commentary and government policies. Bitcoin falls to low of $2,980, down by $1,000 in week as China flexes muscles. Volatility major issue: In 3 days btc fell 40% before bouncing 25% off lows. BIS state risks of cryptos cannot yet be fully assessed and says technology still unproven. Apple and Google developing a payment API for cryptos – may give governments full oversight. Bitcoin and cryptos...

Read More »

Bitcoin: Tragedy of the Speculations

2017-09-17

by Keith Weiner

2017-09-17

The Instability Problem. Bitcoin is often promoted as the antidote to the madness of fiat irredeemable currencies. It is also promoted as their replacement. Bitcoin is promoted not only as money, but the future money, and our monetary future. In fact, it is not. Why not? To answer, let us start with a look at the incentives offered by bitcoin.

Read More »

Forget Tulips & Bitcoin – Here’s The Real Bubble

2017-09-12

by Tyler Durden

2017-09-12

Swiss National Bank, Jan 2016 - Sep 2017

While the broader market for Swiss stocks has risen modestly this year, one 'entity' has outperformed its peers by such a staggering margin, it has left bamboozled market experts struggling for an explanation. And that company is…the Swiss National Bank. The price of a share in Swiss National Bank in August rose above 3,000 francs ($3,143) for the first time, more than double the level of a year ago, and up 50% since mid-July, as the Financial...

Read More »