<html><body><div style="color:#000; background-color:#fff; font-family:times new roman, new york, times, serif;font-size:12pt"><div><span style="font-family: Arial; font-size: 13px;">Michael LaTorra <mlatorra@gmail.com> wrote:</span><br></div><div style="color: rgb(0, 0, 0); font-size: 16px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal;"><span style="font-size: 12pt;"><br></span></div><div style="color: rgb(0, 0, 0); font-size: 16px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal;"><span style="font-size: 12pt;">> The Atlantic magazine Online has an interesting column about Bitcoin that aggregates opinions from many other sources. Bottom line consensus is that Bitcoin is more like a stock share than a currency.</span><br></div><div style="font-family: 'times new roman', 'new york', times, serif; font-size: 12pt;"><div
style="font-family: 'times new roman', 'new york', times, serif; font-size: 12pt;"><div class="y_msg_container"><div id="yiv1218036526"><div dir="ltr"><div><br></div><div>I spent some dozen years of my life as a financial adviser. I advised my clients about their investments in stocks, bonds, options, precious metals, real estate and so on. I would say Bitcoin is more like a precious metal than a stock.</div><div><br></div><div>It does however suffer from one important disadvantage vs. a precious metal that I have mentioned here a couple of times: unlike any given precious metal, there is in principle no limit to the number of digital currencies that can exist alongside Bitcoin. While any given Bitcoin-like currency is by design precious and scarce, digital currencies in general are not.</div><div><br></div><div>Meanwhile, this market correction has turned into quite a rout. After flying as high as something like 266 USD, Bitcoin plummeted as low as
about 65 USD. As I write this, it trades at about 77 USD.</div><div><br></div><div>Gordon</div><div><br></div></div></div></div> </div> </div> </div></body></html>