It is very important video to watch for everybody chasing Bitcoin right now. Bitcoin Foundation general counsel warns: "Everybody who buys Bitcoin right now should expect to lose everything". It does not mean that Bitcoin goes to zero tomorrow, but he is very honest with the presentation of Bitcoin, its potential and its risks.
The more we study it - the more we like the idea behind Bitcoin. The problem is not with Bitcoin - as we have wrote before, we consider it as one of the major developments in the financial industry - the problem is with the speculators driving this Bubble. Will Bitcoin survive its astronomic rise and collapse at some point to become the real alternative Currency? What will happen when 100 top holders will start cashing out? Nobody knows how high speculators can chase the Bubble, but the higher it goes the harder it will get down. For Bitcoin future it will be very important whether it can stabilise now and grow gradually presenting the real Currency alternative, otherwise its crash will expose its weakness - that it was gamed by few as usual - and crowd will chase other 60 crypto-currencies available now. But by that time nobody will be able to call it Gold 2.0 seriously.
We will monitor the situation further, but already now the chart below will be the chart of the year for us here and shows the potential for the real FIAT alternatives like Gold and Silver.
Bitcoin is disrupting the System from within, challenging proposed Capital Controls and show appetite for FIAT alternatives. Now it is in a bubble stage - in our opinion - and whether it will survive its rise and crash remains to be seen. But it will definitely pave the way for the new monetary systems to be implemented in the future."
After Reaching Parity With Gold Bitcoin’s Success Is Putting It Under Growing Strain GLD, MUX, TNR.v, GDX
"We are searching answers whether Bitcoin is Gold 2.0 or just Dotcom Bubble 2.0 all over again. You know our take already, now Economist weights in with its opinion. And do not forget, please, if you were not the one left holding the bag after the Dotcom Crash, we are all benefiting from Internet revolution now. Just Do Not hold the bag this time.
Idea of Goldcoin crypro-currency based on Gold held in Vaults in Singapore, Hong Kong, Switzerland and clearing House in London can be Very elegant solution to the US Dollar hangover after QE abuse."
"We have a great conversation about Bitcoin between Peter Schiff and Stefan Molyneux. You can find a lot of additional information on Bitcoin from Stefan's video. Everybody decides for themselves where is the Intrinsic Value and where is the Bubble. We are siding with China here - who is buying record amounts of Gold this year with Thailand, Turkey and other Asian countries."