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BitCoin, Ethereum and Gold

Accepted submission by cafebabe at 2017-05-06 20:44:59 from the not that kinda pot at the end of the rainbow dept.
Techonomics

Some 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 [soylentnews.org]. However, this occurred during Ethereum rallying to its current peak above US$100 [twitter.com]. 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 [twitter.com] to jub other people's money? Is it Charles Stross' Accerando coming to life [twitter.com]? 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 [twitter.com], an Ethereum contributor, Ethereum evangelist [twitter.com] and all-around great guy who helps the homeless [hexayurt.com].)


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