This is VERY good news for bitcoin in my view. We need a chuck of the gold investor market, to get into bitcoins. This would bring some valued injection to the bitcoin price, once investors in gold, start buying bitcoins.
The investment in gold is huge, due to it's inherent store value. But as soon as investors see the store value in bitcoin, they will shift.
Topic: [2014-07-27] Gold for bitcoin new fad as e-currency count nears 500-mark (Read 2791 times)
July 27, 2014, 04:49:43 AM
July 27, 2014, 03:12:31 AM
Ehhh...where can I buy $500 bitcoins? Or did they mean "500 mark +- 20% cuz I'm too f***** lazy to lookup the real price even though I'm getting paid to write stuff"
July 27, 2014, 02:11:02 AM
http://www.deccanchronicle.com/140727/business-market/article/gold-bitcoin-new-fad-e-currency-count-nears-500-mark
'Gold for bitcoin' trades can also facilitate additional virtual demand for both the assets, compounding the woes of befuddled regulators, which are already finding it difficult to rein in bubbles created by gold, while the yellow metal is also being used extensively for black money transactions. While countries and financial watchdogs have tightened the screws on bitcoin industry, especially after a series of debacles, including Silk Road episode, the failure of Mt Gox exchange and persistent money laundering charges, the gold for bitcoin trades could have wider implications.
'Gold for bitcoin' trades can also facilitate additional virtual demand for both the assets, compounding the woes of befuddled regulators, which are already finding it difficult to rein in bubbles created by gold, while the yellow metal is also being used extensively for black money transactions. While countries and financial watchdogs have tightened the screws on bitcoin industry, especially after a series of debacles, including Silk Road episode, the failure of Mt Gox exchange and persistent money laundering charges, the gold for bitcoin trades could have wider implications.
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