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Even the followers of former member of the U. House of Representatives Ron Paul an avid gold bug have shown in a recent poll on Twitter to prefer Bitcoin over gold as a store of value. Back when Bitcoin was not as popular as today, people thought it would be an ideal means of payment, since it is completely digital and peer-to-peer from anywhere in the world, without any intermediaries such as banks or the IRS looking over your shoulders.

This virtual currency would combine the privacy of cash payments with the ease of online payments, while Bitcoin became increasingly easy to purchase and use. Yet, as I wrote earlier, Bitcoin does also have important disadvantages. Because of the way in which the network is built, Bitcoin can only handle a maximum of seven transactions per second. If the number of users — and, as a result, the number of transactions — were to increase, the waiting time for payments to process and settle would increase as well.

And this is at a time when Bitcoin is not even widely used as an everyday means of payment in the real economy. Most transactions stem from investors and speculators that wish to buy or sell. You might imagine that with transaction costs being that high, it is becoming less enticing to use Bitcoin as a means of payment. Perhaps there are other cryptocurrencies that have less trouble scaling up, but even if they exist, they are far from becoming as popular as Bitcoin is nowadays.

Why is it that Bitcoin prices have increased over the past six months as much as they did? Ever since the limitations of Bitcoin as a means of payment are becoming increasingly known among the general public, Bitcoin advocates bitcoin touches a new high worth more than an ounce of gold taken a different turn.

The virtual currency is now often praised as an alternative store of valuea type of electronic alternative for gold. Both are, after all, scarce and cannot be printed by governments or central banks.

Both assets derive their value from something else: Gold has been widely known for a couple of thousand years as a reliable store of value, because it can always and under any circumstance be bought and sold and because it never lost its entire value.

Cryptocurrencies do not yet have such stability, because they have only been in circulation for a few years. Bitcoin was introduced after the last financial crisis erupted and therefore never experienced such an extreme scenario as in For now, bitcoin touches a new high worth more than an ounce of gold do not know how cryptocurrencies will react to a full-blown financial crisis.

Add to that the fact that it is highly unlikely that central banks will suddenly bring large quantities of gold to the market. To me, the chance of this happening seems smaller than the chance of a few large private investors who want bitcoin touches a new high worth more than an ounce of gold take profits on their Bitcoin holdings and depress prices. Sign up for our periodical newsletter to stay informed about the gold and silver markets and special offers.

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I wrote about some arbitrage tricks HERE. It will be when Trumps agabinet is on and he has put new head chair - Jay Clayton. Hes seems more likely to like BTC and not that many regulations. Want to ride this train on leverage? Real and complete results for Bitcoin prices. No one seems to notice what is happening with Ripple, but they are making great progress, I would keep an eye on them as well! We shall most likely be there, or at least a fraction of it within the next few years.

I'm extremely excited about it! So much so that I've decided to invest a portion of each monthly paycheck. It's not much, but I think it's better than investing in C. If Steem would ever fail hard, at least the community is hear. If Steem would succeed such as bitcoin, oh man. Anyways, love your posts. I keep seeing your watermark so I finally realized eyyy it's the same guy doing all these posts. This is amazing, thank you very much sir kingscrown for this information.

Breakout in Ripple confirmed. Realistically it'll be years before the regulators can catch up with crypto I wouldn't hold your breath for an ETF any time soon. Countries that encourage this technology will be rewarded with all the benefits that come from its continued evolution.

Those that do not embrace this technology will fall behind and become technologically disadvantaged. Without BFX violated prices current average is: Gold is currently worth less - USD. All this news look bullish. Authors get paid when people like you upvote their post. Will be nice when steemit see it's day! Yeah we expected to go even to USD and nothing happened. It will keep going up. Yet, every single day somebody says bitcoin is dead! Nem is also a currency to check out on.

Wow, what an awesome post!