Bitcoin rising

bitcoin
Bitcoin might be a cryptocurrency, but it is more secure and less subject to manipulation than the digital, fiat currency ‘accounting units’ in your bank account.

At the time of writing, one bitcoin (1BTC) equals £639.90, or $1,042, though its value against those currencies has been fluctuating since first passing the $1,000 landmark last week.

One bitcoin is nearly worth one ounce of gold, and its market cap is worth around half of the annual silver supply to the market.

But this is no ordinary currency.

Unlike gold and silver, it could be argued that it has no intrinsic value. On the other hand, unlike gold and silver, it is currently free from market manipulation by the big financial institutions and central banks, so its value is being driven by demand from investors looking for an alternative to the increasingly debased and untrusted fiat currencies.

The issue is: have the masses already missed out on the bitcoin boom, with the early adopters and investors with cash to spare using it compound their advantage over the rest of us? Or is this still the monetary knight in shining armour?

You won’t find answers, but this might help with your questions: five things BTC passing $1k means for investors – The Real Asset Co.

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peterbatt

Peter a journalist with 30 years experience of freelance writing, UK national newspaper and magazine production roles, and business development. In 2007, he developed and launched a mainstream-style green consumer magazine in the UK, called GreenerLiving, as a means of promoting sustainable change ‘within the system’. GreenerLiving closed during the post-crash recession, but Peter went on to become managing editor of the international ethical business title, Ethical Performance. However, Peter felt that the CSR sector has not succeeded in changing corporate priorities anywhere near fast enough, and so I decided to leave the treadmill of corporate employment and debt accumulation to focus on my own projects. Now poorer but a billion million times happier, he writes on political, economic and social issues – usually seriously, but sometimes as satire. He's currently writing Psychopath Economics, a book about the logic of social and economic power, belief systems, and the rise and fall of societies. Peter is convinced that ordinary people must educate themselves and exercise their economic leverage if we are to avoid social and environmental destruction.

peterbatt has 165 posts and counting.See all posts by peterbatt

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