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Although it may seem strange, the recent scramble for Bitcoin fortunes bears an odd
but striking resemblance to the California Gold Rush in the mid-19th century. This time round, however, the miners are using computers and cryptography instead of shovels and buckets.
The above introductory comments are edited excerpts from the infographic* below from Sukhdip Basra (VisualCapitalist.com) entitled Bitcoin: A Modern Gold Rush?. (Original source: whoishostingthis.com/)
The following infographic is presented courtesy of Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and has been edited, abridged and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any re-posting to avoid copyright infringement.
*http://www.visualcapitalist.com/bitcoin-modern-gold-rush/ (Copyright © 2014 Visual Capitalist | All rights reserved.)
Other Bitcoin Infographics from Visual Capitalist:
1. Bitcoin Can – and Will – Disrupt the Financial System – Here’s How
Bitcoin has the very real potential to disrupt the existing financial system. Take a look at today’s infographic to find out how. Read More »
2. Bitcoin: the Ins and Outs Of Everyday Use & What the Future Holds
Bitcoin is a decentralized, global, peer-to-peer, digital, online currency but, that said, most are unsure whether or not it is the future of currency and unaware of the potentially massive impacts this crypto-currency holds. The infographic below shows you the ins and outs of everyday Bitcoin use as a way to save money and provide more autonomy in your financial transactions. Read More »
3. 50 Bitcoin Facts On Its History, Versatility, Usuage, Acceptance & Much More
This infographic neatly covers many interesting bitcoin facts in a digestible form. It not only shows the versatility of the bitcoin market, but it also captures the difference of opinion on crypto-currencies: many embrace the technology, but some institutions show signs of hostility. Read More
4. Bitcoin Buzz from Visual Capitalist
What currency is feared by the European Central Bank as a threat to fiat monetary institutions? What currency is cash-like but digitally transmittable allowing for ultimate anonymity and global mobility? What digital currency is up over 2,200% over the last year? It’s Bitcoin. Read More »
Other Bitcoin-Related Articles:
1. Which Has More Upside: Bitcoin or Gold?
For thousands of years, gold has been the international currency, and for good reason. Gold is a substance that is in high demand and there is a finite amount that can be produced. Bitcoin, through cryptography, was created on these very principles. Bitcoin must be mined, is in high demand, and there is only a finite amount that is available – just like gold. Let’s take a closer look at the relationship between bitcoin and gold in this extremely informative infographic. Read More »
3. Bitcoin’s Days Are Numbered: New IRS Rulings Make Mainstream Adoption Impossible
Essentially, Bitcoin transactions are going to be tracked and traced by the government. So much for that anonymity that early Bitcoin adopters touted to encourage adoption, huh? Thanks to the IRS, any involvement with Bitcoins has just become so complicated I remain convinced its days are numbered. Read More »
4. Bitcoin Is Not the Future of Money – It’s Just Wild Speculation! Here’s Why
All the hype surrounding Bitcoin is a dead giveaway that you should be suspicious. Forget all the economic arguments against the currency, though. The biggest risk is a technological one. Add in the neck-snapping volatility, and you’re telling me this is the future of money? Keep dreaming! It’s little more than a wild speculation. One with a fatal flaw, at that, so please, whatever you do, refrain from converting your life savings – or any meaningful amount of money – into Bitcoins. At least until you read this article. Read More »
5. Gold vs. Bitcoins: Gold Bugs Shouldn’t Be Bitcoin Bashers! Here’s Why
Bitcoin bashers and angry gold bugs have missed the bus and are missing the point. While Bitcoin may be attracting some of the investment dollars that would otherwise be flowing into gold, the two are actually quite complimentary and can co-exist nicely. This article explains why that is the case. Read More »
6. Bitcoin vs. the U.S. Dollar – No Contest – Ever!
Ever since the Federal Reserve embarked on its easy money campaign, everyone and their mother has been on a crusade for an alternative reserve currency. [The euro and China’s yuan have been talked about – and dismissed – as realistic contenders and]…during the world’s desperate search, the Federal Reserve has just continued printing more money. That has only intensified the desire for an alternative. Enter Bitcoin. Ultimately, however, it is all about greed – not a genuine interest in a fundamentally stronger alternative to the status quo – that’s driving Bitcoin prices so forget Bitcoin being a contender as an alternative currency. At best, it’s a speculative investment, and a very speculative one at that. Read More »
7. What Are P2P Currencies (Bitcoin & Litecoin)? Should We Get Some?
Bitcoin is the first peer-to-peer (P2P) digital currency and payment system to gain significant interest. This month its market cap surpassed $1 billion. [Below is a description of what Bitcoin is, and isn’t, and why it has caught on to the extent it has.] Read More »
8. Is Popularity of Bitcoins Adversely Affecting Price of Gold?
It is possible that Bitcoins are starting to steal some of gold’s historic role as a safe haven asset, and if that comes to pass it will be a headwind for the metal and the miners of it going forward…. Read More »
9. Bitcoin Is Ushering In a New Monetary Era – Here’s Why
What currency is feared by the European Central Bank as a threat to fiat monetary institutions? What currency is cash-like, but digitally transmittable allowing for ultimate anonymity and global mobility? What digital currency is up over 2,200% over the last year? The answer? Bitcoin. Read More »
10. This Whole Bitcoin Thing is Fascinating & Troubling – Here’s Why
I’ve become interested in this whole Bitcoin thing, the electronic currency first was issued about 3 years ago, and I think it is fascinating – and troubling. Here’s why. Read More »
