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.
Peter Schiff: Bitcoin vs. Gold GLD, MUX, TNR.v, GDX
"Peter Schiff puts together the very compelling case for Bitcoin Bubble "Tulip 2.0" and why nobody should mistaken it with "Gold 2.0" Bitcoin replicates almost all the Gold properties apart from the most important one - Gold's Intrinsic Value. Bitcoin was around for 4 years - Gold was around for 4 thousand years, will Bitcoin be around in the next 4 years? It can be substituted by another cryptocurrency - which are plenty around already - or, maybe, even Gold backed electronic cryptocurrency one day."
Time Is To Go For Gold: Bitcoin Just Crashed ... Again – High Above $900 And Just Low at $540 GLD, MUX, TNR.v, GDX
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"Time is to go for Gold and for the real one this time - Bitcoin "Gold 2.0" status will be killed by its parabolic rise and bust and maybe it is happening already. Just today the high was at $900.98 and the low at $502.62, according to mtgox.com. With this kind of volatility Bitcoin will be struggling to become The Currency, it is traders paradise for now, but it looks like our scenario $2000 - $50 (put your own numbers here) can happen very soon."
Bitcoin Rises Over $500 - Its Collapse Will Start The New Gold Leg Up GLD, SLV, GDX, MUX, TNR.v
"ZeroHedge reports another amazing development with Bitcoin. While Janet Yellen can not see "Any Bubbles Around" the cryptocurrency is in a parabolic rise and crossing $500 valuation now. Our take is that it is the classic Bubble Ponzi Scheme in the development now and the higher it goes the harder it will fall from the sky. It does not mean that you can not make money or that Bitcoin is bad, just be very careful comparing Tulips to Gold. Everybody who is cashing out their Bitcoins at these or higher levels can receive our congratulations. Everybody who is providing cash for this should be careful.
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