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I don't know, Gold has a well known historical value, but the recent spike in value caused be distaste of Dollars is very similar to what is happening the Bitco
by Guvante 14y ago
I don't know, Gold has a well known historical value, but the recent spike in value caused be distaste of Dollars is very similar to what is happening the Bitcoins.
The problem with Bitcoins is that market has already proven it is capable of spiking to zero. Gold could drop, but it is very unlikely to drop too far below its historical levels (since there is demand for it by itself) in contrast, Bitcoins don't have any straight demand.
- mrb 14y agoNo, Bitcoin has never fallen to zero. (If you have in mind the events of June 2011, it dropped to 0 because of bogus trades by the hacker; they were later reverted by MtGox).
- BrokenPipe 14y agothere is demand, international ecommerce with anonyimity