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14 November, 2017 by Administrator
This post appeared in the Kitco blog on...
The Days Of Bitcoin ‘Stealing Gold’s Thunder’ Could Be Over
Posted on 14 November, 2017 by Administrator
This post appeared in the Kitco blog on Monday. Kitco is one of the leading sites reporting on precious metals news and prices.
Bitcoin is a young currency, and the whole concept of blockchains and distributed ledgers is very new. There are bound to be some teething problems, and settling down. It's explosive growth has forced some changes in the core software, but fortunately this is being addressed in a planned fashion that is staying within the aims of its founder(s). Of course there are schismatic groups trying to capitalise on the success of Bitcoin, and many who seek to derail the concept for their own gain. Bitcoin seems to be staying strong through all of this, but there are some choppy waters for the price speculators.
The most interesting thing about the Kitco article is the fact that they are equating it with gold. This has been done a number of times in the past, but recently some serious investment advisors have been saying this. It confirms my opinion that Bitcoin is a store of value, and I won't be selling any Bitcoin for quite some time. I welcome the price drop, but price drops give the wealth accumulators a chance to increase their store, and ultimately this will lead to further explosive growth in my opinion. This is bad news for me, so I really ought to be talking the price down.