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Tom Briant

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Saturday, November 30, 2013

Senior Corespondent Arnold Woodworth with more Saturday offerings

Apple Has 500,000 iPhone 5Ss Being Made Every Day, Its Highest Ever Output

Apple’s ground-breaking bet on its clean energy infrastructure

Apple Confirms Acquisition of 3-D Sensor Startup PrimeSense

Voice and motion command of these wearable devices that are coming is going to be one of the standards that Google, Apple, Microsoft, Amazon and Facebook are going to be competing on.

TV Is Dying, And Here Are The Stats That Prove It

Bitcoin, not gold, has the Midas touch

It's an alternative to paper currencies. It can be traded anywhere in the world. It has a limited supply. And it should be a secure haven if financial markets start to crash. That is a fairly accurate description of gold. It is also an accurate description of bitcoin.

While bitcoin has been soaring in price, gold has been falling.

At the start of this year, you could pick up one of those bitcoins for $13.  Looking back, that was the steal of the year.  The virtual currency jumped to a record of $947.

bitcoin may be a nerdish fad ...... a short-lived mania that will collapse soon and leave everyone who climbed on board feeling stupid.  But the most likely explanation is that bitcoin is emerging as a serious currency.

The goldbugs will tell you that the price of gold is being suppressed - it would be a lot higher if it was not being manipulated downwards. Others will argue that bitcoin is a faddish bubble, a nerd-ish equivalent of 17th century Dutch tulips. Its soaring price tells us nothing - except that people are as easily fooled as they always have been.

The actual answer is more interesting.

For the few people who have not yet heard of it, bitcoin is a purely digital currency, minted in limited quantities by a pre-determined algorithm.  No one knows who invented it, and no one controls it.  Right now, there are 11 million bitcoins in circulation, and the algorithm will eventually create around 21 million of them.  And that will be all - production will stop, and there will be no more.

The point about bitcoin is that it is designed to be all the things that gold was back when the precious metal was a currency. It has a limited supply. It is not controlled by governments or central banks. It is not anonymous, as some people occasionally claim, but it is a lot more private than money held in a bank account. It is a store of value.

Bitcoins, bubbles and babble, oh my

The one bubble nobody can doubt is the bubble in bubble calling.

Bubbles are always the result of policy and I'm still quite confident that we are in the midst of an unprecedented global coordination of policy that are purposely set on fueling bubbles.

Bitcoin Is Moving Just Like South Sea Stock Before The Bubble Popped [CHARTS]

This is just for fun, I have no idea if or when the bitcoin train will ever get derailed.

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