Quote from: Ibian on July 25, 2018, 07:39:48 PM

Quote from: infofront on July 25, 2018, 04:23:18 PM

Quote from: ivomm on July 25, 2018, 01:22:41 PM

https://www.forbes.com/sites/investor/2018/07/24/trade-war-will-launch-bitcoin-as-the-new-gold/#42e70c711c32
r0ach lol

Good article. That was an explanation for the recent rally that I hadn't heard before.

Really, I thought that was pretty common knowledge? I remember the merits of gold vs fiat vs bitcoin being discussed quite a bit in the first years after I joined, with comparisons like this going about:

Also sites like forbes with their popups and random page scrolling are fucking awful to use, wasted a few minutes trying to find where I was interrupted at one point. Just another reason nobody likes them anymore.

The fact that bitcoin is a better gold than gold is not new. The part that surprised me was that the wealthy Chinese elite have very recently been putting $Billions into bitcoin as a safe haven asset in lieu of gold.

Edit: In case you're having trouble reading the article, it argues that the recent Bitcoin pump was caused by wealthy Chinese elites with insider information. They caught wind that China would begin massively devaluing the yuan due to the trade war with the US, so they fled to bitcoin to preserve their wealth.