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Bitcoin For Dummies: Price Spiking, But No Bubble!

  • Written by Syndicated Publisher No Comments Comments
    December 27, 2013

    I have recorded a brief simple video to explain my perspective on digital currencies. Let it be known to all who don’t normally follow me: I’m not a gold bug, I’m not crypto-currency bug, I’m a risk-adjusted return bug! I attempt to see things as they truly are and will call it as I see it. Those of you who instanteously dismiss Bitoin as a bubble or Ponzi scheme are likely doing so without taking the time to fully understand it (it is quite different, I must admit), or read the disruptive change that it’s capable of bringing into play – a disruptive change at the level of the Internet and World Wide Web during the the early to late 90’s. For an example of this broad based, yet widely followed misunderstanding, reference The “Anti-Economist” Calls Bitcoin the A…

    Now, there’s no doubt that Bitcoin has been on a tear as of late, after all…

    The vast majority of that 6 digit (that’s right, “Six” digit) return has occurred within the last year.

     

    The most likely reason stems from media exposure. Please note that I don’t think it’s due to media exposure, it stems from it. You see, as explained in the short video below, Bitcoin’s primary value stems from its inherent ability to truly and absolutely circumvent the gate keepers of monetary value today – the Central and Money Center Banks of the world.

    [youtube]http://youtu.be/CJbcD9tLWk8[/youtube]

    Basically, the gatekeepers of money can now have the locks on their gates picked. The tertiary value is that this new money is “programmable,” but more on that later. The more people who realize the value of this new, finite, cryptographic money, the higher the demand pushes the value of the money.

    Do I have a point? Well, look at it from obscurity in 2010 to media darling in 2013 – Yes! All 391,288% worth of appreciation!

       

    Stay tuned for more on my take on smart money in the very near future.

    Images: Flickr (licence/attribution)

    About The Author

    Reggie Middleton is an entrepreneurial investor who guides a small team of independent analysts to uncover truths, seldom if, ever published in the mainstream media or Wall Street analysts reports. Since the inception of his BoomBustBlog, he has established an outstanding track record

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