Thanks for this overview. I was surprised as well by the hard drop, never had in mind that Mt.Gox still has to repay by creditors. I am not sure if all the analysts out there had this in mind while analyzing the charts...
Just my opinion. I think that the real threat to Bit coin is actually the push to go back to gold and silver backed currency. Bitcoin is after all a fiat currency and if the petro dollar and the yuan stay as fiat currency than Bitcoin has a level playing field, but if currency goes back on the gold standard than Bitcoin will lose because it will remain fiat. Gold backed currency has the advantage of fiat currency. That would actually be a good thing and Bitcoin would have done its job by decentralizing currency.
It has been an eventful week. Opportunity for us to buy some crypto.
Thanks for this overview. I was surprised as well by the hard drop, never had in mind that Mt.Gox still has to repay by creditors. I am not sure if all the analysts out there had this in mind while analyzing the charts...
Just my opinion. I think that the real threat to Bit coin is actually the push to go back to gold and silver backed currency. Bitcoin is after all a fiat currency and if the petro dollar and the yuan stay as fiat currency than Bitcoin has a level playing field, but if currency goes back on the gold standard than Bitcoin will lose because it will remain fiat. Gold backed currency has the advantage of fiat currency. That would actually be a good thing and Bitcoin would have done its job by decentralizing currency.