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Will Bitcoin become the new gold?

Bitcoin has developed incredibly quickly. In the eight years since the cryptocurrency was launched to a (mostly) unsuspecting public and financial market, Bitcoin has hit the mainstream, its value has increased more than a thousand-fold and people everywhere seem to be talking about it constantly. One side effect of this incredibly rapid growth is that we don't yet know where Bitcoin, and cryptocurrencies in general, sit in the world of financial investments. There are several places where Bitcoin could end up and, in this article, we're going to take a look at the options. Low risk - Bitcoin is the...

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Bitcoin believer split widens further

It may at first seem rather perverse that the continuing increase in the value of Bitcoin, the most successful cryptocurrency to date, should result in a bigger divide between those who believe in the new digital currency and those who are still sceptical. Schools of thought vary from people who believe we are seeing the firming-up of a new global currency, to people who maintain that this new phenomenon is nothing more than a fraud. Those who position themselves between the two extremes are either sitting back reserving judgment, or are those who believe Bitcoin to be a genuine long-term...

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What if the entire concept of purchasing power is made up?

So let's look at 3 things U.S. Dollar Gold Bitcoin The only reason the U.S. dollar is considered a store of value is it is the reserve currency for all the world and global transactions. This is only because it is backed by the economic and military might of the United States of America. This brings me to the topic of Gold A lot of people believe the biggest strength of Gold is that no single entity, be it a Sovereign State or financial institution, can control it. Some people think of Gold as a store of value, a tangible...

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BitGo developer ranks Bitcoin as world's 32nd most valuable currency

Jameson Lopp, the man who fills the role of lead developer at BitGo, a Blockchain security company, has carried out a calculation which evaluates just where Bitcoin stands, in terms of its relative value, in relation to other major currencies. Lopp's calculations, based on a clone money aggregator M1 index that he created, puts Bitcoin at 32nd in value in the world money supply. This puts Bitcoin just above Singapore and South Africa, and just below Finland and the United Arab Emirates, in the world currency value league table. In Lopp's index, narrow money is used as a metric to...

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Bitcoin price drops following record highs this weekend

Following Sunday evening's high of $7,575.72, Bitcoin's price has dropped back to pre-weekend levels. By 3:55 PM UTC on Mondat, Bitcoin was trading at around $7,268.26. The trading volume of the infamous cryptocurrency also dropped on Friday, from $3.6 billion down to $2.7 billion. Alternative cryptocurrencies to bitcoin, such as those listed on CoinMarketCap.com's remaining top 10 cryptocurrencies, all indexed gains. This is fairly unusual, as most cryptocurrencies have mostly moved in lockstep with bitcoin. Etherium Classic - rising by 10.51%, NEM - rising by 13.35%, and Bitcoin Cash - rising by 9.18% were the largest gainers, with the last...

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