Prime Interest news said bitcoin needs to be boring before people will start to believe its money in 2013. At the time that was hard to see happening with all the anti establishment techno utopian ideas and skyrocketing prices. But now, after a crash, banks are all jumping on board, see the list of supporters at chain.com, it's become a crypto anarchists twist of fate. It's beginning to seem like almost all major banks are getting involved in something they once dismissed, taking the "if you can't beat em join em" approach. With the recent so called Chinese crash investors have almost nowhere else left to turn.
People who pay no attention to economics will know that everything is volatile at the moment. Commodities are behaving strangely. Remember when oil was over $100 a barrel. Gold, a traditional hedge against stocks, has dropped. Stocks around the world have collapsed, not just in China. Most investments they are down on the year and fiat currencies are all over the place. Its far from plain sailing and soon someone's going to fall off the ship.
Bitcoin and the value of other major crypto currencies have conversely settled into an even rhythm. The value of a bit is the same as it was a year ago. bitcoin has found an new base at $230. like the $105 floor of 2013 and the $5 of 2012. Crypto investors are beginning to find peace. Volatility ounce touted as a downfall of the currency, is clearly reducing. We can hear the birds singing in the trees.
Now the Yuan drops, now the Yen, Japans credit rating is was downgraded! The US fail to raise their zero interest rate for the 7th year in a row and the world stock market continues to decline. Seriously where the hell would you put your money if you had any? And the pressure is on if you're one of those mega one percent'ers driving a Maserati in China.
Commodity prices are finally starting to show signs of recovery. However they rely on the Chinese economy for demand and victim to the claws of the short sell, becoming the global default. These cycles and this market psychology seem far from over. What will the bots do? If you're doing business internationally and if you're actually making stuff then these are trying times. Irregularities in commodity prices seem less severe when compared to bitcoin. However charts on useful things like gold and silver start to make more sense when measured against bitcoin. This combined with easy international transfers make for an ideal tool for factories in China selling widgets direct to the world. Maybe the mathematical ether of crypto is the only way to escape.
We are seeing that bitcoin as money become plain and much less socially loaded. Banks getting hold of it will exaggerate this phenomenon That's a win win for holders and early adopters, exciting news for people who are interested in fintech. Its and it does feel like a moral compromise for the "currency of the people". The opportunity for social change and to change the way value impacts our lives with bitcoin is at risk, but the price of the currency is not, it's a Catch 22. There is a circular logic to adoption and mainstreaming, but hopefully it is something cured with time. Crypto currency seems less crazy to our friends against this backdrop.
What the media may have drummed into us is changing. At the moment bitcoin is providing order and direction. Ironically, its computer nerds and crypto anarchists now hold the keys one of the most constant parts of the world economy. Whilst the market crashes in an illogical heap, the bitcoin is unphased. You can feel relaxed with a bitcoin in your pocket. It's a nice little hedge against the global finance complex.
People who pay no attention to economics will know that everything is volatile at the moment. Commodities are behaving strangely. Remember when oil was over $100 a barrel. Gold, a traditional hedge against stocks, has dropped. Stocks around the world have collapsed, not just in China. Most investments they are down on the year and fiat currencies are all over the place. Its far from plain sailing and soon someone's going to fall off the ship.
Bitcoin and the value of other major crypto currencies have conversely settled into an even rhythm. The value of a bit is the same as it was a year ago. bitcoin has found an new base at $230. like the $105 floor of 2013 and the $5 of 2012. Crypto investors are beginning to find peace. Volatility ounce touted as a downfall of the currency, is clearly reducing. We can hear the birds singing in the trees.
Commodity prices are finally starting to show signs of recovery. However they rely on the Chinese economy for demand and victim to the claws of the short sell, becoming the global default. These cycles and this market psychology seem far from over. What will the bots do? If you're doing business internationally and if you're actually making stuff then these are trying times. Irregularities in commodity prices seem less severe when compared to bitcoin. However charts on useful things like gold and silver start to make more sense when measured against bitcoin. This combined with easy international transfers make for an ideal tool for factories in China selling widgets direct to the world. Maybe the mathematical ether of crypto is the only way to escape.
We are seeing that bitcoin as money become plain and much less socially loaded. Banks getting hold of it will exaggerate this phenomenon That's a win win for holders and early adopters, exciting news for people who are interested in fintech. Its and it does feel like a moral compromise for the "currency of the people". The opportunity for social change and to change the way value impacts our lives with bitcoin is at risk, but the price of the currency is not, it's a Catch 22. There is a circular logic to adoption and mainstreaming, but hopefully it is something cured with time. Crypto currency seems less crazy to our friends against this backdrop.
What the media may have drummed into us is changing. At the moment bitcoin is providing order and direction. Ironically, its computer nerds and crypto anarchists now hold the keys one of the most constant parts of the world economy. Whilst the market crashes in an illogical heap, the bitcoin is unphased. You can feel relaxed with a bitcoin in your pocket. It's a nice little hedge against the global finance complex.
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