Friday March 03, 2017

One Bitcoin Now Worth More than One Ounce of Gold

Late yesterday Bitcoin's value actually surpassed that of an ounce of Gold and stayed there, rising even further today. Why is this important? It is still discussed that Bitcoin could actually replace gold as an alternative asset, although the likes of that happening any time soon are not very likely due to Bitcoin volatility and its usage for black market products and by Ransomware criminals. We would certainly like to see what some of our own HardForum miners have to say about this.

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Both currencies have seen a solid start to 2017, but bitcoin's has been a bit better. It has gained about 35% so far this year after rallying 120% in 2016 and finishing as the top performing currency in each of the last two years. In recent weeks, bitcoin has managed to shrug off news that China's biggest exchanges were going to start charging clients a flat fee of 0.2% per transaction and that they were going to block withdrawals.