Posted by MarkB_MI on February 27, 2014 at 03:10:22 from (75.219.117.129):
In Reply to: Re: Bitcoin posted by Traditional Farmer on February 26, 2014 at 18:43:40:
You seem pretty sure of yourself, TF. Just like you were certain that gold prices would recover. (They haven't, BTW.)
How about we see how Bitcoins do versus gold over the next six months? Right now, bitcoins are trading at $575 USD, according to http://bitcoinwatch.com. Gold is trading at $1332/oz, (April 14 futures), according to http://finance.yahoo.com/. So that means gold is currently trading at 2.32 Bitcoins per ounce. Let's see how they're doing August 1st, 2014.
Frankly, whether or not Bitcoins go up or down doesn't matter to me. I would not buy them as an investment (nor am I buying gold, for that matter). The real value of Bitcoin is as an alternative currency, not as an investment. But Bitcoin will come into its own as a currency only after its price stabilizes. Current speculation in Bitcoins has led to wild price swings, and nobody wants to do business using a currency that doesn't have a stable, predictable value.
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