First Mover: Why Bitcoin Isn’t a Replacement for Gold Just Yet
Bitcoin's price is approaching a new all-time high, but bitcoin is not yet the replacement for gold many think.
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Gold has been used as a store of value for eons, thanks to its beauty and almost magical ability to never tarnish. Furthermore, despite radical shifts in human values over the past 100 years, its worth still has not diminished - even soaring to over $1,000 an ounce in recent times. Now, though, there is a new, digital challenger on the scene that, when its price chart is compared with that of gold, bears some striking similarities. It's no wonder, then, that companies like Netagio nowallow people to trade bitcoin for precious metals like gold - it is a sign that investors want the ability....
Given that the design of bitcoin's peer-to-peer system was partly inspired by gold, it's not a surprise that many bitcoin enthusiasts are also fans of the precious metal. Both gold and bitcoin are scarce commodities used as stores of value by those who might be distrustful of fiat currencies. The bitcoin community has long been interested in courting gold users - Ripple, for example, recently introduced gold trading to its platform. Even so, gold enthusiasts have not always been bitcoin champions. Some even go so far as to vocally oppose bitcoin as an investment vehicle. Schiff's stance.....
Many enthusiasts see the blockchain as a perfect solution to address a lot of problems in different sectors. But at the same time, industry experts think the first-mover advantage doesn’t apply to blockchain technology right now. First-Mover Disadvantage? Though the blockchain industry has seen a lot of attention from financial institutions and other....
The $8.7 trillion-asset BlackRock is "dabbling" in cryptocurrencies – becoming the norm as bitcoin and ether rally to all-time high prices.
Traditional cryptocurrencies have been around since 2009 when Bitcoin first launched. Innovative and original, it sparked a trend among investors and other interested parties to see how the financial system could change. But, as with many technologies with first-mover advantage, it remains popular but isn’t necessarily the most advanced technology behind the alternative currencies. That’s […]