[ExI] Bitcoin

Gordon gts_2000 at yahoo.com
Sun Apr 14 09:30:06 UTC 2013


Eugen,

> Gold works offline and has a human history of many kiloyears.
> Bitcoin cann well be gone in a decade. Or not.

For purposes of our discussion here, I assume Bitcoin is here to stay. 

I might not have thought so but for its meteoric rise in recent months. Even the recent crash lends it some credibility, as it did not evaporate entirely. As an old veteran of the financial markets, the action looks familiar to me. 

I learned that the Vicklevoss twins, the supposed true fathers of Facebook, have an $11 million stake in bitcoins. I've learned also that venture capitalists are now investing even money into making the market more efficient. It looks a lot like gold, but for the 21st century.

>> Consider Bitcoin as a sort of hybrid: part currency, part virtual precious metal.


> I don't really care how it's classified. It is useful already,

> and will become more useful if the volatility goes down.

You should care how it is classified, as I do. I spent many years of my life as an investment adviser. I think it is wise for now to consider Bitcoin something like a cross between an ordinary currency and a precious metal.

Gordon





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