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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: 0) by Anonymous Coward on Monday May 08 2017, @06:50AM (1 child)
Since pre-Biblical days, its been the human condition that the masses were subject to one war-lord or another.
We have our worker bees which produce everything, and we have our elite, many of which are nothing but pure parasites.
I can't lop all elites in that group, as there are also many there who perform vital leadership and planning functions.
Its like comparing Elon Musk to George Soros. Personally, I'd much rather Elon Musk keep every dollar he gets, as he does things with it, while I see nothing wrong with taxing every dollar Soros gets.
(Score: 3, Insightful) by cafebabe on Monday May 08 2017, @01:55PM
Are you mad? You support PayPal [wikipedia.org] co-founder Elon Musk? PayPal survives because it is shiftier than the average credit card scammer [paypalsucks.com].
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