Bitcoin Mania Is a Symptom of Fiat Money Worthlessness.
In this report I cover the early market action from London on Wednesday, November 29th, 2017. I also compare gold and housing as an investment since 1968 in the UK.
In this report I cover the early market action from London on Wednesday, November 29th, 2017. I also compare gold and housing as an investment since 1968 in the UK.
I agree that, in part, the bitcoin (crypto-mania) is related to the failure of the fiat monetary systems. Failure that is by the continued abuse and excesses of governments over many years.
If we look back over time to 1971 when the US came off the gold standard we find this 5,000 year old money (gold) surging for several years afterwards. This was at a time when the US money supply (M2) was some 48 times smaller. Bitcoin is affected by the world money supply that has grown through QE mechanisms.
To chart the move of gold (post the gold standard in the US) and overlay it with the fledgling Bitcoin is somewhat hard as the latter is an international "currency" affected by not just one nation but world interest in it and the world's inflated money supply - although I think some analysis in this area would show some similarities between the two (god post 1971 and Bitcoin).
It is concerning, nonetheless, as you suggest we are somewhat in uncharted territory with respect to stock markets and crypto-currencies.
There is definitely a very strong correlation here and this is a true signal of the fact that many people are giving up on fiat
Hey There. Newbie. Interested in meeting people who can explain Crypto to me, and are socially/politically motivated. Want to know if a Crypto can be tied to a socially constructive aspiration. A philanthropy for example.