Bitcoin: One big bubble, or a hedge against paper currencies?
The virtual currency Bitcoin is attracting more and more attention. What do you think about the Czech analysts, brokers and technology experts? Monitor developments in the prices? And it makes sense to think about Bitcoin in terms of speculation or hedging against the paper currencies, as it was talked about recently in relation to bank deposits by cutting in Cyprus?
Equity analyst, Czech Savings Bank
Development of the watch. Already because of the shape of the curve that acts as another bubble. It is currently fueled by increasing media attention (and thanks to news about Cyprus) and technical constraints.I mean primarily that several thousand accounts awaiting approval. Their users are looking at increasing rate can be very impatient and torque account is approved quickly buy. This drives the price even higher.
Certainly it is an interesting concept of "internet money" and has a future. But hedging against paper currencies does not make sense to think about because generally still relatively low volume and underdeveloped networks of stores that accept Bitcoin as an alternative to the "common currency".
Founder server Bitcoin.cz
Bitcoin is a very diverse socio-economic experiment and I liken it to their importance to the Internet from the mid-90th years. Back then it was easy for academics and enthusiasts, today most of us life without him can imagine. As then, the internet, and today many "doubting Thomases' claim that Bitcoin really do not need and that" it can not work. " I contend that those people only meets creativity.
Bitcoin is looking extremely risky investments and due to high volatility like it as collateral against a standard financial system is still not recommended. Its price can be zero tomorrow, but in the thousands of dollars. Unregulated market tends to create bubbles, we must realize, however, that Bitcoin is still at the stage where people discover its properties and looking for its fair price.Therefore, price movements in the thousands per cent do not think in the long term so essential. From the investor's perspective, however, the Bitcoin is doubly true rule "not to invest more than you can afford to lose."
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