I've read and participated in discussions here in the past about BITCOIN.
Some were quite dismissive of this cyber-crypto currency.
Just thought I'd ask the peanut gallery if anyone noticed the recent effect on the value of BITCOIN by the situation in Greece?
It went up from $240's to $280's and $290's per coin.
Basically, those directly affected by the currency situation in Greece started buying BITCOIN and this, along with others seeing the increase and also buying in looking for a short term capital gain, pushed the price up by $30-$40 per coin.
Think about this - the Grecian economy is about the size of Louisiana's economy. And difficulty there had that kind of effect on valuation.
To me, this just confirms that BITCOIN is a good bet for hedging your capital - protecting it from a negative economic situation.
I really like the fact that BITCOIN can only increase in supply at a very slow and steady rate and this will end by 2020... that means that it can't be manipulated by central banks - like all of the fiat currencies of the world... and further, it means that if SHTF economically - we should see a dramatic increase in value of BITCOIN. Like from the current $280 to $5000 and beyond. In fact, if more and more people get on the BITCOIN wagon and begin using it as a means of exchange, it could go much much higher in value. Some predict upwards of hundreds of thousands of $ per bitcoin value after 2020 given world-wide use. Fixed supply, increasing demand...
Remember it's divisible (fungible) down to 9 decimals - so you could be using .000000026 BITCOIN in the future to buy a beer at the bar...
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