November 26, 2013
LTP has written extensively about how the Bitcoin economy is shaking up the world. This link will connect readers to 29 such articles. . With this piece, we wanted to make some lesser known aspects of Bitcoins clearer:
1) As its value rises, Bitcoin looks more like an investment instrument rather than a currency. Consumers seem to consider Bitcoins more like buying Gold for long-term gains rather than a currency for buying bread and butter.
Brian Roemelle and some experts developed a model that shows a rather shocking result: single Bitcoin values could reach more than $10,000 if just 2% of Chinese and Indians buy and hold, for savings purposes, just a fraction of the Bitcoins that will be in final circulation.Bitcoin has to pass these kind of acid tests before it becomes a real currency.
2) You could theoretically do everything with Bitcoins today that you do with your online currency, such as buy a private island at bitpremier.com, stock up on designer perfumes, or purchase stock gol ...