one thing is for sure when it comes to the crypto v gold debate shortly ... we’ll soon find price discovery in the cryptos because exchanges are being set up where you can actually ‘short’ .... unlike the gold market tonite where $6bn was notionally (paper) dumped (equivalent to half of Barricks MC) in a few minutes ...
that type of behaviour is coming to cryptos shortly ...
cryptos:-
# no privacy on any transaction (and all records kept on the block chain ledger)
# no true market - you can’t short (all skewed towards the longs)
# no barriers to entry =unlimited supply of competitors
# incredibly power intensive to mine (one bitcoin = the av. house supply)
# not physical -I need a computer at all times -even if I want to buy some eggs
# no long term history - how does it perform in a crisis?
# it can be hacked (man made)
....
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one thing is for sure when it comes to the crypto v gold debate...
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