Bitcoin Now – Same Price As 1 Oz. Gold

Anyone else find this absolutely amazing / hard to even comprehend?

From some article:

“” The Digital currency bitcoin jumped to a record high above $1,200 last Friday, as investors speculated the first bitcoin exchange-traded fund (ETF) to be issued in the United States is set to receive regulatory approval.

Traditional financial players have largely shunned the web-based “crytpocurrency,” viewing it as too volatile, complicated and risky, and doubting its inherent value.

 But bitcoin, invented in 2008, performed better than any other currency in every year since 2010 apart from 2014, when it was the worst-performing currency, and has added almost a quarter to its value so far this year. “”
Bitcoin Now As Valuable As Gold

Bitcoin Now As Valuable As Gold

Another indication of just how stretched / ridiculous things have gotten when a digital crypto-currencies “perceived value” has matched / surpassed the price of gold.
You don’t think this thing is just a tad over extended? 

8 Responses

  1. Power Corrupts March 2, 2017 / 3:47 pm

    re: bitcoin – the quote below is from Erik Swarts’ latest post at his website Market Anthropology (

    “As a parting postscript, we thought we would also offer up our opinion to those chasing what we believe to be the speculative du jour of the day – bitcoin.

    Get out while you can.

    Thirty years later and those same baseball cards are worth a fraction of what we’d sold them for in 1987. For bitcoin investors, we fear the fall will be even greater – as in, worthless. ”

    A word to the wise?

    • Forex Kong March 2, 2017 / 3:53 pm

      Thanks man….I’m lazy this a.m – still in recovery from vacation.

      Credit where credit is due for sure…and in my view – word to the wise indeed!

  2. tas March 2, 2017 / 5:25 pm

    very true, how the hell is it the same price as gold. Gold you can see and touch and has real value. I wish i could invent something with a perceived value, might have to look into that any ideas??

    • Forex Kong March 2, 2017 / 6:28 pm

      Insanity…and complete / total retail “buytardation”.

      This staggers closer and closer to the cliff each and everyday….I almost can’t bare to watch.

      Please people with profits!!Ring the bell on ’em! Dow now stretched oveR 2000 POINTS ABOVE THE 200 sma – AND REGRESSION TO THE MEAN ALWAYS HAPPENS.

      • Tas March 3, 2017 / 12:06 am

        Hey Kong, big drop on the aussie dollar today, is that due to all this fed talk of rate hike? Im down about 80 pips against the jpy so really trying to work out what news or data came though early morning U.S time cant work it out

        • Forex Kong March 3, 2017 / 12:14 am

          Funny you should ask! Great!

          Gotta look up another one of my posts – I think last month. AUD/JPY is the ultimate “risk barometer” and when risk comes off 2 things happen:

          1. Aud gets sold hard as it’s a commodity related currency
          2. JPY skyrockets as its a “funding currency”

          It’s the ultimate “short play” currency pair as you benefit from huge moves in BOTH underlaying currencies and I am all over it here soon too!

          SHORT THAT IS

          • tas March 3, 2017 / 1:34 am

            fuck haha wished i read that earlier…
            Thanks again for your replies and help really appreciate it.. ill look for post now

  3. Teo March 2, 2017 / 5:29 pm

    I am buying Xau here, had a text book correction, I am sure a lot of people are still long but sometimes trends are like that….

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