Why Bitcoin began to squeeze not only the dollar, but also gold


The world is clearly going crazy. In the "coronavirus", investors, both professional and amateur, prefer to invest in gold, silver, shares of American IT companies and bitcoins. If everything is clear with the first three positions, how did the cryptocurrency suddenly end up among the “defensive assets”?


Precious metals are showing great gains: silver has risen 90% since the beginning of spring, and gold finally broke the $ 2000 an ounce mark last week. There are no questions about them, but bitcoin also grew, from $ 3800 per "coin" in March to 12 thousand, that is, by 220%. Those who have invested their hard-earned money in virtual currency are rubbing their hands, but for how long? How is this "revenge" of bitcoin guaranteed, and is it really worth spending money on it, and not on the usual and reliable gold and silver? Experts point to the following reasons why “virtual coins” turned out to be more attractive than “cut paper” and on a par with precious metals:

At first, it is believed that bitcoin, unlike national currencies, cannot be so simply "printed", because it is not subject to inflation. Due to global volatility, US Treasuries are now showing negative returns. Against the background of the "coronacrisis", the world's largest economy USA is showing serious slowdown.

Secondly, the segment of online commerce and online payments is actively developing, which by the end of the year may grow to a volume of 5 trillion dollars. As a result, investing in Bitcoin has proven to be extremely profitable again since its collapse in 2017. But how long will the "attraction of unheard of generosity" last this time?

Over the past few years, the word bitcoin and the names of other cryptocurrencies have become commonplace and are no longer so hard on the ear. True, when you start to understand this, you involuntarily start scratching your head. What kind of "bitcoin mining" that you need to "mine" on "farms"? Someone clearly once played computer games, or the creators of all these "virtual coins" just have a good sense of humor. If national currencies are backed by the economies of these states, or at least a dozen AUG, like the US dollar, then how are cryptocurrencies backed? If something bad happens and the Internet disappears, what will investors be left with? In the case of gold or silver, there will be bars of the precious metal on hand, dollars or euros can be sold or bought with them. After Mavrodi, people at least have "candy wrappers" in their hands.

From all these projects there is a strong spirit of a global financial scam, to which they still turn a blind eye, since many involved in it “cut the loot”. However, in our country this has now become stricter. Recently, a new law was signed in Russia, which defines the "digital currency":

Digital currency is a set of electronic data that can be accepted as a means of payment that is not a monetary unit of the Russian Federation or a foreign state, as well as as an investment.

The law introduces a ban on the use of "digital currencies" as a means of payment for goods or services, as well as advertising them as a means of payment. The acquisition of bitcoins and other cryptocurrencies in our country is also limited. Citizens will be able to purchase digital financial assets (tokens) from credit institutions only if they were issued within the framework of Russian legislation. Russians will also be able to purchase digital assets issued outside Russian law, but only on foreign platforms.

Where to invest their hard-earned money, everyone decides independently. However, whether "farm-mined" bitcoins can be considered a "reliable defensive asset" is a very controversial question. Perhaps, the intervention of the state in this issue should only be welcomed.
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  1. I give a tooth - it will end with a major scammer on a planetary scale!
  2. nikolaj1703 Offline nikolaj1703
    nikolaj1703 (Nikolai) 3 August 2020 12: 20
    +4
    Bitcoin is like Winnie the Pooh has honey, it seems to be there and not right there. Intangible and disappearing.
    1. Vladimir Tuzakov (Vladimir Tuzakov) 3 August 2020 13: 13
      +1
      The law introduces a ban on the use of "digital currencies" as a means of payment for goods or services.

      This means the collapse of bitcoin as a means of payment in Russia, therefore the prospect of cryptocurrency tends to zero ... Those who want to buy for speculation, the prospect is dubious with many different cryptocurrencies, it is more reliable to speculate on the exchange ...
  3. Oyo Sarkazmi Offline Oyo Sarkazmi
    Oyo Sarkazmi (Oyo Sarkazmi) 3 August 2020 19: 16
    +3
    Why Bitcoin began to squeeze not only the dollar, but also gold

    Because hamsters believe in ads. How many there were, South Seas Stocks, Peruvian Gold Mines ...
    In 1929, half of the world flew by at shares, but new "but you don't understand!"
  4. Dear sofa expert. 3 August 2020 19: 27
    +2
    What kind of "bitcoin mining" that you need to "mine" on "farms"? Someone clearly once played computer games, or the creators of all these "virtual coins" just have a good sense of humor.

    Why not? Everything is quite "tangible". No more virtual than electricity, minutes for a phone call, or traffic for the Internet.
    "Bitcoin mining" is not a fiction, but nothing more than a payment for providing you with your resource - a home server / PC for carrying out some transfer operations. No mysticism.
    1. Marzhecki Offline Marzhecki
      Marzhecki (Sergei) 4 August 2020 07: 35
      0
      This is ridiculous laughing
      1. Dear sofa expert. 4 August 2020 08: 54
        +2
        This is ridiculous.

        It just works.

        If you were told in 1990 that you can take selfies with your phone, you would laugh the same way.
  5. Dear sofa expert. 3 August 2020 20: 21
    +3
    then how are cryptocurrencies secured?

    Supported by various technologies behind them: Blockchain, Proof of Work, Smart Contract, Lightning Network, Masternode, Proof-of-Authority, emerSSL and others ...
    Today, without all this, AUG is just a useless pile of scrap metal.
    1. Marzhecki Offline Marzhecki
      Marzhecki (Sergei) 4 August 2020 07: 53
      +1
      Quote: Dear sofa expert.
      Supported by various technologies behind them: Blockchain, Proof of Work, Smart Contract, Lightning Network, Masternode, Proof-of-Authority, emerSSL and others ...

      For me, this is a genius divorce of the 21st century. And the more incomprehensible and mysterious the names of technologies, the more it affects gullible citizens. good
      1. Dear sofa expert. 4 August 2020 08: 24
        +2
        These are technologies, not traps for citizens. Yes, there is an opportunity to make money, just like everywhere else, but no one forces you to go there.
        The names are quite understandable for those who use these technologies.
        I think that some "Synchrophasotron" or "Megabyte" sounded unusual 50 years ago.
  6. Alexzn Offline Alexzn
    Alexzn (Alexander) 3 August 2020 21: 33
    +2
    Quote: Dear couch expert.
    what are cryptocurrencies backed by?

    Supported by various technologies behind them: Blockchain, Proof of Work, Smart Contract, Lightning Network, Masternode, Proof-of-Authority, emerSSL, and others ...
    Today, without all this, AUG is just a useless pile of scrap metal.

    Not certainly in that way. HF are provided not with technologies, but with TRUST to the emission technology. Paper money appears under capitalism, when the state becomes so powerful that citizens are forced to trust it, using paper money believing that they are a substitute for gold. With the development of capitalism and its financial system, the state begins to issue money in accordance with the requirements of the economy of military and social obligations without any connection with gold, which ceases to be money (before Basel 3). Due to the fact that globalism gives rise to opposition from anarchists who do not recognize the state's right to full control of finances and in the presence of a crime interested in parallel uncontrolled finances, the idea of ​​cryptocurrencies appears. It is provided solely by the trust of the people using it, trust in the algorithm and trust in the existence of an existing exchange opportunity for real currencies. Those. today it is an exclusively criminal speculative currency.
    1. Dear sofa expert. 4 August 2020 01: 17
      +1
      today it is an exclusively criminal speculative currency.

      And this is also not so)
      Cryptocurrency is not an official means of payment, and therefore is not a currency at all. But crypto technology can be used, for example, to transfer cash flows.

      If we take blockchain technology, then it is just a distributed database, in which the storage devices are not connected to a common server. That is, there is no central overseer, the system also controls itself through mutual “surety”.
      In fact, this is the same banking system as SWIFT, only there legal entities - banks act as guarantors, and here - machines (servers). External control is established over the banks - the state. The servers control themselves, anonymously.
      Yes, anonymity is easier to use for criminal purposes. But the system itself is not criminal.

      In addition to blockchain, there are other technologies. For example, MIOTA (IOTA). It is a specific technology for providing communication between different systems. This is a "service", if you like (as, indeed, any other crypto-technology), and therefore is provided not only with trust, but also with real value, in absolutely normal monetary terms.
      And the higher the demand for such a service, the higher its price.
  7. Alexzn Offline Alexzn
    Alexzn (Alexander) 4 August 2020 07: 38
    0
    Quote: Dear couch expert.
    today it is an exclusively criminal speculative currency.

    And this is also not so)
    Cryptocurrency is not an official means of payment, and therefore is not a currency at all. But crypto technology can be used, for example, to transfer cash flows.

    If we take blockchain technology, then it is just a distributed database, in which the storage devices are not connected to a common server. That is, there is no central overseer, the system also controls itself through mutual “surety”.
    In fact, this is the same banking system as SWIFT, only there legal entities - banks act as guarantors, and here - machines (servers). External control is established over the banks - the state. The servers control themselves, anonymously.
    Yes, anonymity is easier to use for criminal purposes. But the system itself is not criminal.

    Besides block chain, there are other technologies. For example, MIOTA (IOTA). It is a specific technology for providing communication between different systems. This is a "service", if you like (like any other crypto-technology, by the way), and therefore it is provided not only with trust, but also with real value, in absolutely normal monetary terms.
    And the higher the demand for such a service, the higher its price.

    This is exactly how it is! Bookmaker office is not a currency in full understanding - I agree! This is an ersatz, the replacement of real currencies with a specific purpose - to bring the movement of real money through ersatz from the control of the state. Hide the turnover of prohibited goods (weapons, drugs, live goods), divert funds from taxation. Only a pseudo state, such as Madurov's Venezuela, can introduce HVs that are not controlled by the state. In the foreseeable future, the state will oppose KV because of its unwillingness to lose control over the issue and the movement of financial flows.
    1. Marzhecki Offline Marzhecki
      Marzhecki (Sergei) 4 August 2020 07: 54
      +2
      Quote: AlexZN
      In the foreseeable future, the state will oppose KV because of its unwillingness to lose control over the issue and the movement of financial flows.

      It has already done so. And this is correct, in my opinion. They gave the discoverers some extra money, and now they are gradually closing the shop.
      1. Dear sofa expert. 4 August 2020 08: 20
        +2
        They gave the discoverers some extra money, and now they are gradually closing the shop.

        It is like prohibiting the round shape of a wheel, or an element of the periodic table, or length, width or height.
    2. Dear sofa expert. 4 August 2020 08: 12
      +2
      This is an ersatz, the replacement of real currencies with a specific purpose - to bring the movement of real money through ersatz from the control of the state.

      This was not the goal. They just use it. A knife in the hands of a housewife is a tool. A knife in the hands of a criminal is a weapon.
    3. Oyo Sarkazmi Offline Oyo Sarkazmi
      Oyo Sarkazmi (Oyo Sarkazmi) 4 August 2020 14: 03
      +1
      Quote: AlexZN
      This is exactly how it is! Bookmaker office is not a currency in full understanding - I agree! This is an ersatz replacement for real currencies

      Not at all. This is a product program, the same as Windows or Photoshop. And Bitcoins is the database of this program. For some they will be of value, for others they will not. Those who find this data valuable buy with fiat currency. Exchange of data and receipt of money is carried out by exchanges. The disappearance of the exchange with wallets does not lead to any legal liability - there are no sales and purchase agreements. The "cold" wallet seems to be protected, but with the disappearance of the last exchange, it will become simply an unreadable program.
  8. Alexzn Offline Alexzn
    Alexzn (Alexander) 4 August 2020 07: 43
    +1
    Quote: Dear sofa expert.
    This is a "service", if you like (like any other crypto-technology, by the way), and therefore it is provided not only with trust, but also with real value, in absolutely normal monetary terms.
    And the higher the demand for such a service, the higher its price.

    Here is the solution to the riddle. KV is not a currency, not money - it is a SERVICE that costs money and is provided with CONFIDENCE the possibility of converting it into real money, which is provided by the volume of goods and services and must be accepted for payment guaranteed by the state.
    1. Dear sofa expert. 4 August 2020 08: 19
      +2
      ... it is a SERVICE that costs money and is secured by TRUST the possibility of converting it into real money, which is provided by the volume of goods and services and must be accepted for payment guaranteed by the state.

      It's just a favor to yang, or a new measure if you like.
      The same as, for example, "call minute", or "kilobyte". It is a measure of the performance of a transfer operation. And the fact that they have not yet taken control of it, so it just lies in a misunderstanding of the essence.
      The sooner states recognize this phenomenon as official, the more control they will have.
      1. Alexzn Offline Alexzn
        Alexzn (Alexander) 4 August 2020 09: 45
        +1
        Not! All these services are already on the market! The whole point is to bypass the state! If the state takes control, the very meaning of the service will disappear. Yes, it will be a form of service, but it will be just a service, not an alternative currency.
        1. Dear sofa expert. 4 August 2020 10: 05
          +2
          The whole point is to bypass the state!

          If for you the state means banks, then yes.

          Yes it will be a form of service

          Yes, for example - a replacement for banks. The impossibility for bankers to earn money "on the air". The function of banks will be taken over by impartial machines.
          Naturally, bankers who identify with the state and are essentially part of the state system resist this.) Who wants to become nothing from “everything”?)

          All these technologies, along with artificial intelligence technologies, are applicable, by the way, in all other state (and non-state) spheres.
          This is understood by people in power (and other feeding troughs), hence such an escalation of resistance to the "new reality" that is very inconvenient for them.
          1. Oyo Sarkazmi Offline Oyo Sarkazmi
            Oyo Sarkazmi (Oyo Sarkazmi) 5 August 2020 14: 43
            0
            Quote: Dear sofa expert.
            The function of banks will be taken over by impartial machines

            Who need electricity. If the energy companies agree to receive payment with cue ball, then, in the end, all cue balls will end up on the accounts of the energy companies. For one translation operation consumes several kilowatt-hours. One mining farm in Kazakhstan consumes 20 MW tons, or 20 thousand kilowatts. A day's work consumes 480 thousand kilowatt-hours, at a price of 5 cents per kilowatt-hour, this will be $ 24 thousand, or 2 bitcoins at today's price. The question is, how many days will the owner of a mining farm run out of both cue balls and dollars? If you do not steal electricity, then the cost of Bitcoin will be more than $ 8 million a year.
            1. Dear sofa expert. 5 August 2020 17: 03
              +1
              Who need electricity. If the energy companies agree to receive payment with cue ball, then, in the end, all cue balls will end up on the accounts of the energy companies. For one translation operation consumes several kilowatt-hours.

              Something you all gathered in one heap) Well, it's not scary, this topic is actually quite complex and requires a separate study)
              Here, so that you don't get confused, read the basics:

              https://ru.m.wikipedia.org/wiki/Биткойн