Seeking Alpha

Catallaxy's  Instablog

Catallaxy
Send Message
I got into trading in order to support missions and ministries. In 1998 it was the wild west of pennystocks. It seemed so easy. So I promptly lost 3/4 of a small inheritance that I got. I buckled down and averaged down on a solid deal that started @ .43 and went down to .023 and then back to... More
  • Currency Affairs - The Digital Gold Rush 0 comments
    May 31, 2014 11:57 PM

    With just the slightest nod from the Fed the Bitcoin buying pressure has taken direction. Granted there was quite a lot of eyes on Bitcoin and many toying with the buy trigger. Investment groups, hedge funds and a variety of speculators who believe they see the writing on the wall.

    I find that quite interesting since Bitcoin is still very little understood even amongst the top minds who have clear vision of a monetized internet cloud and M2M world to come.

    It is hard to make a transition when you just don't really understand what "IT" is. However this is exactly what is happening.

    Sure; people have real frame of reference such as the advent of the internet or the advent of cell phone popularization. It helps a lot to bridge into realizing that somehow Bitcoin and those "other" cryptocurrencies somehow will change the world. www.youtube.com/watch?v=OIRZebE8O84

    So here people are throwing their money at an "investment" but I venture that less than .5% really have a clue as to what they are buying into. This is great for early adopters but guarantees volatility since the belief structure of such investors has little vision or understanding of just exactly what Bitcoin does, represents or can/will evolve into. (Just hold it till you double your money and then sell 1/2 - do me that favor.)

    There even seems to be a corollary between the rise in Bitcoin price and fall in Gold prices. Shaking is all over in this economy.

    A "great sifting" is going through the altcurrency world as well. BlackCoin and DarkCoin are the clear winners thus far due to actually having a function and model of service.

    Keep your eyes open for coins, tech and software that solves current needs in "trustless contracts" and M2M interaction. Those ventures with support from tech savvy seed capital firms will likely educate you about just what exactly is possible for cryptocurrencies in the tech to come. (Hint: The demand for velocity of money and increased dimension of money in the cloud far exceeds the supply and will continue to do so with the current antiquated system; CryptoCurrencies can solve that.)

    Again - I expect to see $1200 Bitcoin this time next year and $4000 per coin in less than 4 years ... but - Please people educate yourself and cross the cultural divide of this technology and make sure you know what you are buying. ( I will be publishing materials to help soon.)

Back To Catallaxy's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.