Post
Topic
Board Pools
Re: [9000 TH] Slush's Pool (mining.bitcoin.cz); TX FEES + VarDiff
by
Hitmouse
on 19/09/2014, 16:08:52 UTC
Typically gold and bitcoins are not tied together.

http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zv

http://www.kitco.com/charts/historicalgold.html

I think it could be problematic to try to tie the gold and bitcoins together. Keep in mind the drop in bitcoin prices happened far before the PBoC announcement. News reports are tying to relate basic economic fundamentals to bitcoin pricing that just don't apply yet due to the nature of bitcoins. Although there is some impact it is not yet encompassing the full effects of the bitcoin phenomenon. Simple profit taking that has spiraled due to computerized trading and the lack of easy currency conversion options for the average Joe are more likely the answers to the current demise of the value of bitcoins.

I believe that when there is an easy, quick, main stream and highly accessible way to purchace bitcoins without a high conversion cost then the average Joe will start actively using bitcoins far beyond what we think is possible. Whoever makes it main stream for the public will win the battle and become ground zero for the bitcoin boom. Currently I have not found any site that does not have some frustration, anxiety or high cost involved in it.

SLUSH ROCKS! Thanks for the great pool!