I agree with you, saeidziaei. HC ought to have a cryptocurrency...

I agree with you, saeidziaei. HC ought to have a cryptocurrency forum. Many are trading these new currencies (Bitcoin, Litecoin, Terracoin, PPcoin, Namecoin, Feathercoin, etc. to name a few) or investing in them now and, as more people become more knowledgeable about them, I believe they will become more and more credible to many more people. Quite apart from the trading aspect, I feel it is worth taking a gamble and picking up a few at least as a protection against wealth destruction just in case they DO really succeed. As I say, I personally believe they WILL eventually succeed, especially now that we can see very active suppression of the PM prices by some big player/players. If those malevolent interests succeed in constantly reining in the PMs, there are not too many other places where you can securely park your wealth.

I am not recommending doing anything more than risking a small amount of money as a hedge against the possible destruction of wealth held in more usual assets. I'm suggesting that, as saeidziaei said, one should only invest an amount which one could lose without much distress.

The maximum number of Bitcoins which can ever be created is 21 million (they are highly divisible - to at least 8 decimal points, so you could buy or sell o.ooooooo1 of a Bitcoin - that is a figure I have seen mentioned, but I don't see why the Bitcoin could not undergo even greater division in time). Just a thought: if the maximum number of Bitcoins is 21 million, just imagine how much 1 Bitcoin could someday be worth if just 1% of the world's wealth should come to be stored in this currency. Fanciful? Maybe, but I personally think it is highly possible.

Just consider the recent uptake when suddenly gold was trashed and the Cyprus bank account haircuts issue arose. It's an indication, I think, of where many will place their wealth as more and more such incidents arise. That such incidents WILL recur is a virtual certainty in my humble opinion.

I suggest folks do a little research on cryptocurrencies, rather than just boneheadedly rejecting them as simply a silly pipedream or, worse, a scam or Ponzi scheme of some kind without having any good reason why that might be so.

For a simple, fairly impartial Q&A on them, take a look at this video on YouTube:

Bitcoin Questions Answered!
 BookofNick
http://www.youtube.com/watch?v=OA73xEyYHV8

But if you Google Bitcoin, or 'cryptocurrency' or search on YouTube, there is a wealth of info out there for those who are not too lazy to do some research.

I own a small number of Bitcoin (for posterity), and I intend to buy more as time goes on which I expect will sometimes trade.

In any case, I hope everyone does well, whatever they prefer to believe or do.

Cheers,

Tez