Lack of Confidence in World Currencies

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Please have a look around and if you like what you see, please consider registering an account and joining the discussions. When you register an account and log in, you may enjoy additional benefits including no ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

DoChenRollingBearing

Yellow Jacket
Messages
1,271
Reaction score
3
Points
0
Location
SE USA
...

Many of you already know that I have been following Bitcoin as a beginner amateur. Here is a screen shot I took after half an hour of fiatleak.com showing currencies being changed into Bitcoin at the exchanges late this morning (US ET). I presume thios is more "action" than normal, but multiplying out those numbers would show $450,000,000 daily being changed from world currencies into Bitcoin... And that is just people changing Bitcoin (BTC) at the exchanges, this does NOT include "mining" BTC or spending them.

People are running away... And I will let you know if a neophyte like me can change BTC into gold soon. Bubble it may be, but this is worth watching.


https://docs.google.com/file/d/0BxnHmH-02CQINGhHSDZxZVhTdzA/edit


My math: (10,240 BTC * 2 half hours per hour) * (24 hours) * $925 / BTC = approx. $450,000,000 per day


EDIT:

This 30 minute interval may NOT be representative of those through a whole day. But, the picture is still instructive.

...
 
Last edited:
BTC will ultimately go the same way as Bernard Von Nothaus, after the government declares it to be counterfeiting.
 
...

Ahh, indeed my link is no good, a lot of computer stuff I am not good at.

I do not know enough about Bitcoin to state truthfully its strengths and weaknesses. But, I am looking into it because there is utility there if it works as I hope.

For example, soon (I hope to put the deal together tomorrow) I hope to buy some gold with BTC...

:gold:

:B:

/LOL...
 
Back
Top Bottom