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Tag Archives: Cryptocurrency

The Reasoning Behind Gold’s Breakout

Goldmoney Insights Gold’s dramatic move above $1400 has caught the investment establishment by surprise. Physical gold ETFs, as a proxy for direct portfolio investment, amount to only 0.05% of the estimated $250 trillion of global investment values. As well as being badly wrongfooted, investment managers have little understanding of the role of gold as money, believing it to have no role in the monetary system. They will have to undergo a rapid re-education. This article addresses their...

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Could a Cryptocurrency Become a Global Reserve Currency?

Could a non-state cryptocurrency like bitcoin become a global reserve currency? I first proposed the idea back in November 2013, long before bitcoin’s rise to $19,000, decline to $3,200, recent ascent to $13,000 and current retrace. The idea is intriguing on a number of levels. In terms of retaining value though thick and thin, the ultimate reserve currency cannot be printed (and thus devalued) with abandon by a government. Gold and silver have served as the ultimate...

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Russia Looking Into Creating Gold-Backed Cryptocurrency for International Payments

Russia is considering creating a gold-backed cryptocurrency to build an alternative international payment system as the country continues to seek a path toward de-dollarization.According to the Russian news agency TASS, Governor of the Bank of Russia Elvira Nabiullina said the bank would consider a proposal for a gold-backed cryptocurrency at the request of the State Duma (the lower house of the Federal Assembly) even though the bank would prefer to advance payments in national currencies....

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Bitcoin Is a Replacement for Gold? Not So Much

A recent video ad produced by a digital currency asset company titled “Drop Gold” created some waves on social media last week. The ad encourages investors to drop gold from their portfolios and replace it with digital currencies such as Bitcoin. “In a digital world, gold shouldn’t weigh down your portfolio,” the ad proclaims.But is Bitcoin really a replacement for gold? While the Drop Gold ad may seem clever and cute, cryptocurrencies aren’t a replacement for gold.The most obviously...

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The WeChat Playbook – Mobilizing the Points Economy

Whenever a big player enter – or even considers entering the space – cryptocurrency markets swoon. Names like JP Morgan, Facebook and Twitter provide a sense of validation for investors and hope that the good times are still ahead. But it was Mark Zuckerberg’s “A Privacy-Focused Vision for Social Networking”, which the Silicon Valley mogule posted on Facebook, that got Kik CEO Ted Livingston talking. An Ecosystem of Value Transfer Facebook intends to launch stablecoin...

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Investors Ditching Bitcoin for Gold

Bitcoin investors are selling cryptocurrency and buying gold, according to a number of investment analysts.“I do think that Bitcoin pulled a little bit of demand away from gold last year, in 2017,” Jan Van Eck told CNBC’s  last week. “Interestingly, we just polled 4,000 bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to bitcoin and now it’s going the other way.”A year ago, Bitcoin was trading at $12,000. But the digital currency has not cracked...

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What’s Up With Precious Metals? It’s Your Dime Interview With Precious Metals Expert Chris Blasi

What’s going on in precious metals markets? Is a recession looming? If so, what does that mean for gold and silver?In this episode of It’s Your Dime, Mike Maharrey talks to precious metals and investment expert Chris Blasi about these questions and much more.Chris is the founder of Neptune Global and has over 25 years of experience in the world of investing and precious metals.TOPICS DISCUSSED-The current economic and political environment.-Whether or not a recession is on...

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Katie Haun versus Paul Krugman on Cryptocurrency

Tyler Cowen recently linked to a debate between Stanford professor Katie Haun and Paul Krugman on cryptocurrency. I found myself torn but I did learn a few things and noticed a few interesting things. It starts with a 36-minute presentation by Haun. Then there’s a 25-minute presentation by Krugman and then a third 39-minute video with Q&A with the audience in Mexico City. My noting of interesting things is not at all comprehensive; they’re simply things that I...

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Bitcoin Roasted Like a Thanksgiving Turkey, Drops 40% in Two-Week Span

Bitcoin dropped below $4,000 as a massive selloff in the cryptocurrency market continued over the Thanksgiving weekend.The price of a bitcoin fell as low as $3,604 during the sell-off. It has lost some 80% of its value from highs reached late last year when the price of bitcoin eclipsed $20,000. Bitcoin has fallen 40% in just two weeks of November. It was the worst price drop since April 2013.Other cryptocurrencies including ethereum and ripple have seen similar price drops.Trading volumes...

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Peter Schiff: The Confidence Bubble Has Popped

Yesterday was another bad Monday on Wall Street. The Dow Jones dropped nearly 400 points and the NASDAQ fell deeper into “correction territory,” dropping another 3%. All five “FAANG” stocks closed in bear territory. These are the tech stocks that have propelled the long bull market. The NASDAQ is down 12.5% this quarter.Apple’s announcement that it plans to cut production weighed heavily on the markets, along with another sign of trouble in the housing market — a big drop in homebuilder...

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