Bitcoin – “Millennials Fake Gold”

Bitcoin – The  Digital Generation’s Gold Surrogate

By Vitaliy Katsenelson CFA

I’ve been asked about Bitcoin a lot lately. I’ haven’t written anything about it because I find myself in an uncomfortable place in agreeing with the mainstream media: It’s a bubble.

Bitcoin started out as what I’d call “millennial gold” – the young (digital) generation looked at it as their gold substitute.

http://contrarianedge.com/2017/12/01/bitcoin-millennials-fake-gold/

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3 Responses

  1. Bitcoin futures

    Bitcoin futures started trading todayy on the Chicago Board Options Exchange, letting investors bet on the currency’s future value. The move is seen by many as a step towards the mainstream.

    There’s clear support: Bloomberg notes futures expiring January rose from $15,000 to over $17,540 during trading, and demand saw transactions halted at times. But the Financial Times ($) says some big banks don’t support the futures yet, suggesting Bitcoin’s quest for legitimacy continues.

    Dr. David Edward Marcinko MBA CMP™

    Like

  2. Bitcoin

    Some people are taking out mortgages to buy bitcoins as price soars.

    http://www.msn.com/en-us/money/markets/people-are-taking-out-mortgages-to-buy-bitcoin-as-price-soars/ar-BBGC3rh?li=BBnbfcN

    Emile

    Like

  3. Regulation

    Dr. Marcinko – Bitcoin futures are regulated. This is being promoted as a virtue of the bitcoin futures. However, the underlying bitcoin itself is not regulated. Can the regulation of a derivative be successful when the underlying main contract has no regulation especially at times of stress?

    Walford

    Like

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