Peter Thiel - Bitcoin Equal To ‘Digital Gold’ Of This Era

March 22, 2018 at 15:03


Venture capitalist Peter Thiel is a strong supporter of cryptocurrencies and would bet in bitcoin to be the “biggest” of its kind. The venture capitalist is known being a long-time supporter of bitcoin. After stressing the potential of cryptocurrencies at a conference during October 2017, Thiel has followed up with strong conviction that echoes bitcoin maximalists. According to CNBC, the former Trump advisor and early Facebook investor, was willing to bet on bitcoin as it is the biggest cryptocurrency, meaning that the digital currency is the strongest of its kind with about 42 percent of the total market share according to CoinMarketCap. Thiel is betting on bitcoin no...

How Will Today's Fed Decision Impact Bitcoin And Gold?

March 22, 2018 at 14:59


Bitcoin and gold have frequently been compared, and with good reason. Both have functioned as safe-haven assets or “disaster hedges” during times of crisis, gaining value as global markets responded to macroeconomic and geopolitical turmoil. As a result, one might wonder how the two will react should the Federal Reserve (Fed) announce a rate hike this afternoon, as many believe it will. After polling several experts, the consensus is that any increase in the Fed’s benchmark rate will have little impact on Bitcoin. However, a rate hike could have an influence on the price of gold. Bitcoin, the world’s largest digital currency by market value, marches to the ...

Bitcoin: digital gold or fool’s gold?

March 9, 2018 at 10:59


Over the past few months, I’ve heard one question more than any other: “What do you think about Bitcoin?” Through 2017, Bitcoin, the world’s first cryptocurrency, rose by almost 1,200%, prompting excitement and bafflement. My answer: I’m enthusiastic about the Blockchain technology that makes Bitcoin possible. In fact, Vanguard is using such technology. As for Bitcoin the currency? I see a decent probability that its price will go to zero. Are cryptocurrencies currencies? Bitcoin’s creators introduced the cryptocurrency in the wake of the GFC. The goal was to bypass governments and banks when two individuals want to transact. No country, company, or institution c...

"Bitcoin Mimics the Property of Gold"

March 9, 2018 at 10:55


n 2017, the largest cryptocurrency Bitcoins price rose over 1,300 per cent, and it has been swinging wildly this year, worrying regulatory agencies globally. Nicolas Cary, Co-founder and President of Blockchain, the largest blockchain firm globally, provides the technology that supports storing and transactions of Bitcoins. He spoke to BT's Manu Kaushik over the phone, in the middle of a busy day at his London office. Question: How has your journey been so far? In 2017, the largest cryptocurrency Bitcoins price rose over 1,300 per cent, and it has been swinging wildly this year, worrying regulatory agencies globally. Nicolas Cary, Co-founder and President of Blockch...

Austria Eyes Bitcoin Rules Based on Gold

March 9, 2018 at 10:46


Austria’s finance ministry is looking at the trading rules for gold and derivatives as inspiration for drawing up regulations on cryptocurrencies for the nation and for the European Union. The goal is to prevent Bitcoin and similar virtual currencies from facilitating money laundering -- a crime that’s no stranger to the precious metals business -- and to bring trading platforms under the kind of oversight that already exists for financial instruments, Finance Minister Hartwig Loeger said in a statement on Friday. Loeger is meeting his Portugese counterpart Mario Centeno in Lisbon today and will raise the issue, he said. “Cryptocurrencies are significantly gaining i...

'The risk takers have gone': Junior gold companies irked by bitcoin

March 9, 2018 at 10:31


On Tuesday morning, Chris Haldane, of Marathon Gold Corp., was looking at the price of gold and looking at his stock price: Gold had climbed US$17 per ounce, but the company stock was barely moving. “It just seems like the junior gold space has gone into a pause mode,” said Haldane, who handles investor relations for Marathon, and had just issued a press release touting positive drill results for its prospective gold camp in Newfoundland. The likely culprit: cannabis, bitcoin and the many cryptocurrencies out there. Although no one could point to any formal studies, there was wide consensus on the trade show floor at the Prospectors and Developers’ Association Confe...

Winklevoss twins say bitcoin will "disrupt" gold

March 9, 2018 at 10:23


The Winklevoss twins have argued bitcoin is a better asset than gold and is still "underappreciated". Speaking at an event in New York, Tyler Winklevoss said bitcoin is equal to or better than gold "across the board", in terms of scarcity, portability, fungibility and durability. "We believe bitcoin disrupts gold," he said. "We think it's a better gold if you look at the properties of money and what makes gold gold." Winklevoss, who is famed alongside his twin brother Cameron for losing out to Mark Zuckerberg for the control of Facebook, said bitcoin has the potential to appreciate by 30 to 40 times to be on par with the gold market, which is worth around $7 tril...