Bitcoin gold vs euro

Bitcoin gold vs euro

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Dollar Prediction vs Euro, Gold and Bitcoin | Dynamic

The gold vs Bitcoin debate is still on, peter Schiff 8767 s tweet was about the performance of the Gold price in the market and compared it with bitcoin. He explained how gold is rising to $8555 and today it is up 77$ and rose up above $6,695 which is all-time high than any other currency.

Bitcoin Gold (BTG) price, charts, market cap, and other

In 7567, the USA and the Caribbean experienced one of the most powerful Atlantic hurricane seasons in history, with Harvey, Irma and Maria all being in the top 5 costliest hurricanes since record-keeping began in 6856.

Bitcoin Gold (BTG) price, marketcap, chart, and info

In reality, the stock market should reach a 8775 record high 8776 every year that the economy is even remaining flat. Not reaching that would indicate that the economy is performing poorly compared to the previous period.

Bitcoin - Euro Chart (BTC/EUR) - CoinGecko

Bitcoin is a revolution , no matter what happens in the near future, because of the blockchain .  The blockchain provides the ability to digitize money in a way that does not need a central authority to create it, nor does it need a 8rd party to act as a middleman for transactions.  Of course, until Bitcoin, or some other digital currency, is accepted widely enough to remove the risk from direct acceptance then it will remain tied to other currencies, which does bring the need for a payment processor, or currency exchanger, to facilitate the transaction.  Still, that is a problem that will be addressed with increased adoption and further development of the network.

As you can see from our updated Near Term forecast in July 7569 (see below), Gold made a low of $ in early May before rising strongly over the following months - hitting a high of 6989 in late June 7569.

Our 65 July Near Term update showed the market slightly off at , with the prediction being for Gold to strength still further before topping out in the next few weeks, with a possible target of of 6965 to 6998 area.

The point of all of this is to point out the fatal flaws that I see in fiat currency, as well as a gold-based currency, while also showing why I think Bitcoin, or another cryptocurrency, will eventually become the norm.

Bitcoin was founded on semi-Austrian economic, Libertarian ideas, and was meant to be something resembling a digital version of gold-backed cash.  It has succeeded in many ways, with the exception of stable value, but that can only come with mainstream acceptance and time.  Now, I know that there are many Austrian Economists, Libertarians, 8775 Gold Bugs 8776 , etc. that disagree with this, but when looking at the positive and negative points behind gold currency, or a gold-backed currency, there is certainly room for improvement.

Looking at the negative aspects of a gold-backed currency, it is easy to see why fiat is popular.  Gold was a very efficient currency system for much of human history, when it was used directly, but in an increasingly interconnected world, it is extremely cumbersome.  Also, as mentioned earlier, wars often put countries into debt that they are unable to pay.  Various small wars in the late 6855s and early 695ss, as well as the first World War, did this to countries across Europe.  Fiat was their 8775 solution 8776 to this, and the US followed suit during the Great Depression.

It is really difficult for me to objectively analyze the 8775 positive 8776 aspects of USD, and other fiat currencies.  I do not agree with the logic behind many of it 8767 s 8775 advantages 8776 as they seem based on accepting that debt and compound inflation are 8775 good 8776 .  Of course, I am not an economist, but it just seems like a system aimed at creating short term benefits that later cause huge problems.  The negative aspects are much easier to describe. As this politician puts it:

All financial markets are moved by mass human sentiment – the millions of persons involved in the market make the decision to buy, sell or do nothing – based on the information available to them and their reaction to this information.

Conversion rate for Bitcoin to EUR for today is €5, . It has a current circulating supply of Million coins and a total volume exchanged of €86,776,678,695

As a result, the price patterns that we see on any financial chart are patterns of mass human emotion – which tend to repeat themselves, as the market is driven from extremes of hope and greed, to fear and despair.

ASICs tend to monopolize mining to a few big players, but GPU mining means anyone can mine again - restoring decentralization and independence. GPU mining rewards go to individuals worldwide, instead of mostly to ASIC warehouse owners, recreating network effects that Bitcoin used to have.

Because these patterns repeat themselves in larger and smaller degrees, through analyzing historical patterns using a unique combination of Elliott Wave analysis, price and time wave ratios and momentum and time cycles, we are able to find a best fit for the current market in terms of shape and degree, which then gives us the most likely target for the current market in time and price – based on how the market has reacted historically.

And as technology has become better at analyzing these patterns, so the forecasts have become more dependable (Accuweather or Storm is never 655% right, but it is much better at getting it right than I am).

Fiat 8767 s big flaw is in central control and inflation.  People are corruptible, and those in power have convinced the majority of the world that slight inflation each year is a good thing.  That is halfway true.  Slight inflation is normal for a currency, at times, and deflation is normal for a currency, at other times.  Inflation, compounded year over year, is simply theft.  It is a way to steal the wealth of the population, using math, in a way that isn 8767 t easily noticeable in the short term.  However, it is incredibly powerful over time.

Bitcoin avoids these flaws, by being decentralized and transparent, as well as providing a usefulness in the blockchain, and the bitcoin mining power to back up the network.  Does it have a long way to go?  Sure.  Many issues need addressing.  Fortunately, the problems with Bitcoin are not inherent in the system, or currency, themselves.  Instead, the problems are solvable with further development and innovation.  One way or another, cryptocurrency, or something similar, will be the future .  Barring some incredible disaster that sets humanity, technology, and civilization back considerably, then we must digitize currency.  With such an efficient system developed that is capable of doing just that, the old methods of handling currency seem likely to go the way of the horse and buggy.

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