Is Bitcoin a better investment than Gold?

[Humpy]

Gold is solid while bit coins are dreamed up by some boy in his back bedroom or worse some big city slicker. Now you see it and now you don't.

https://www.roslandcapital.com/why-buy-gold

 

[Pekelo]

...where are you Shorting bitcoins?

Certain exchanges allow shorting, ICBIT, Kraken, Bitfinex, and probably Gemini too. Also through CFD brokers. There are futures and options for bitcoin too, if you have money to burn...

https://www.google.com/search?client=opera&q=shorting+bitcoin&sourceid=opera&ie=UTF-8&oe=UTF-8

 

[Baron]

"I think Gold is a great thing to sew onto your garments if you are a Jewish family in Vienna in 1939, but I don't think civilized people invest in Gold." - Charlie Munger

 

[Pekelo]

Mmmm,Mmmmm,Mmmm feels so good! It is also a giant Ponzi ran worldwide (but mostly in China) by a famous Russian Ponzimaker....

"Previously Sergei Mavrodi stated in the interview to Finance Today’s Izabella Kaminska that he is the man behind the Bitcoin rally in the beginning of November. She's not the only one, as there are some other experts who suppose that the recent Bitcoin price fluctuation could be caused by MMM activity in China."

http://cointelegraph.com/news/115638/russia-warns-about-mmm-collapse-in-china

 

[Pekelo]

I don't think it would go much higher than $360 in the next 2 weeks, so if it reaches that or even 380, that is a short again..

12 or so hours ago it spiked up to 356 and promptly fell back then some, bottoming at 314....

 

[GarrettKimmel]

any thoughts on this? http://www.coindesk.com/mit-media-lab-core-developers-multiple-bitcoin-implementations/

 

[Pekelo]

generally it will consolidate at a higher level than the previous 240ish... Let's say just above 300....

Right again, currently that level is $320.....

 

[romik]

Yes, no question about it.

Gold is history. Its a relic of the past. BTC is the future. Make your choice.

surf

Bold statement, are Chinese aware of this? It's only 'history' due to continuous manipulation via COMEX. Any hint of USA default/hyperinflation and gold will be back in the saddle. BTC's valuation is driven by limited supply and popularity, flood the market with these Tamagotchis and then see what happens.

 

[GarrettKimmel]

since I've seen a couple of threads here about EW, just curious: can elliott wave principle explain bitcoin moves? If it can't, then why?

 

[xandman]

There looks like a sustained increase in the number of daily bitcoin transactions. It should be immaterial that the complete history shows like a parabolic move considering how new this technology is.

I am never sure whether it is simply the increasing adoption or something else. For instance, P2P bitcoin lending is booming with activity from stressed commodity based economies such as Brazil. If I may be bold, I would like to coin (pun) the term: currency refugees. Consumers that traditionally rushed to gold or the dollar black market when their currency was endangered.

Note the higher highs and higher lows.