We see numerous bitcoin dollars tailwinds for Bitcoin, and for blockchain especially. Capital is flowing into the sector, millennials love it, and we also think governments and commercial banks are supportive of digital currency, as they have a general disdain for physical cash. This is true not only in the developed world, but also in some of the poorer and worst run countries on earth. Indeed whilst disciplined investors look to the wisdom of Graham and Buffett, late to the party cryptocurrency enthusiasts are finding investment advice in the Instagram feeds of Hilton, Foxx and Mayweather.
Bubble dynamics aside, there are a number of other concerns we have when it comes to Bitcoin, which make us question whether or not it really is the future of money, as some of its evangelists claim.
If bitcoin dollars could draw an analogy, we think many bitcoin dollars are mistaking the pipelines for the oil. Any monetary instrument that lacks consistency is surely doomed to fail, as this is a fundamental prerequisite for a sound and widely acceptable monetary instrument.
Bitcoin dollars also think that Bitcoin bulls will, by necessity, be sadly disappointed in its price trajectory if it truly is to become the primary form of money used in commercebased on the historical long run real returns that gold bitcoin dollars generated. After all, economies would simply cease bitcoin dollars function in any environment where money itself generates a greater bitcoin dollars than enterprise.
Finally, whilst we are as supportive of free markets and competition as anyone, we find the whole idea of a world of competing cryptocurrencies absurd, at least if they are to be used as media of exchange and units of account. Indeed, taken to its logical extreme, the kind of world that crypto-enthusiasts imagine would in some ways be no more sophisticated than a barter system. Access our detailed report on Bitcoin, Bitcoin dollars and Gold here: Author of two books on investing in gold and causes of the GFC.
Great article, If Bitcoin is money or equivilant or its competitor bitcoin dollars hard to see Governments allowing it to be controlled by anyone but themselves. Could it become a world currency with its own exchange rate?? If its money can trillions be in a manner of speaking 'digitably printed' significantly reducing its value - I do not know.
Is it possible that other organisations or countries will or can create their own versions of bitcoin. If is possible then watch out. If it is possible bitcoin dollars no one is bothering then why? Does Bitcoin have patents or does it need patents?? Can anybody do it? If it bitcoin dollars was a serious short bitcoin dollars threat or alternative to doing business without traditional cash involved then I would imagine bitcoin dollars some countries would be preparing legislation etc.
What is bitcoin bitcoin dollars by? Seems like its backed by the parabolic graph alone? Gold on its own has long established markets and increases in supply as it comes out of the ground. You could grow tulips. Can you make more bitcoin or maybe create a 'home label version'??? If Bitcoin is just a more secure version of say a 'pay pal' to pay bills then its really a 'so what's the big deal'. Until the value of bitcoin is stable how can anyone use it for commerce?
When it is stable in value, relative to other currencies, there will be less demand the true demand? At the moment it is like surfing bitcoin dollars wave, enjoy it while it lasts. Bitcoin dollars quotes and take-aways Patrick Poke Livewire Markets. Buy Hold Sell Livewire. Hugh Dive Atlas Funds Management.
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