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from the everybody-like-bubbles-until-they-pop dept.
Something odd is going on in finance this week. One unit of BitCoin briefly exceeded the value of a troy ounce of gold before it fell back. However, this occurred during Ethereum rallying to its current peak above US$100. Perhaps this is like comparing apples, oranges, and dog-biscuits but — as of this week — we now have a situation where Ethereum is well above the US$1 credibility threshold of most alternative digital currencies and, to a simpleton, BitCoin was more valuable than gold.
What changed? Nothing obvious. Banks have teams of shirking resume builders working on trendy projects and they've been working on digital currencies for years. Likewise, tranches of investments funds have been going into technology for decades. However, after puffing and bursting a housing bubble and educational bubble, is this the next place to jub other people's money? Is it Charles Stross' Accelerando coming to life? I don't know but I'll be very concerned if there is a financial wobble within the next month.
(External hyperlinks via Vinay Gupta, an Ethereum contributor, Ethereum evangelist and all-around great guy who helps the homeless.)
[Ed Note: Asking what is Ethereum? Me too. Additional information on the above topic can be found at the IB Times]
(Score: 2) by maxwell demon on Sunday May 07 2017, @05:46PM (1 child)
Not all of them. The first one is to a SN submission (not containing any further links), and the last one before the separation line is to hexayurt.com, which apparently isn't related to twitter (but also not to the price of digital currencies or gold). And the links in the ed note below the separation line are not twitter links either.
The Tao of math: The numbers you can count are not the real numbers.
(Score: 0) by Anonymous Coward on Sunday May 07 2017, @08:40PM
http://www.businessinsider.com/bitcoin-price-plummets-below-1500-2017-5 [businessinsider.com]