Solomon1 Posted March 18, 2013 Share Posted March 18, 2013 Morning Everyone For those of you in the know for alternatives to the fiasco that is our current failing FIAT money system.... Bit Coins will be a familiar term. Am wondering if anyone can explain why the price seems to have jumped from £7 per coin at the end of last year....to £17 last month.... I've looked today and their £31 each!! Love As Always Sol Link to comment Share on other sites More sharing options...
mafya Posted March 18, 2013 Share Posted March 18, 2013 Morning Everyone For those of you in the know for alternatives to the fiasco that is our current failing FIAT money system.... Bit Coins will be a familiar term. Am wondering if anyone can explain why the price seems to have jumped from £7 per coin at the end of last year....to £17 last month.... I've looked today and their £31 each!! Love As Always Sol Go with gold, if I was selling something and you offered me bit coins or gold I would accept the gold. Link to comment Share on other sites More sharing options...
Solomon1 Posted March 18, 2013 Author Share Posted March 18, 2013 Go with gold, if I was selling something and you offered me bit coins or gold I would accept the gold. yes, me too mafya bit coins are mainly for online transactions and they're supposed to be quite stable cf FIAT, simply by way of having a limited supply i'm guessing that the rocketing price must mean there's starting to be a huge demand or something! Link to comment Share on other sites More sharing options...
bongo_fish Posted March 18, 2013 Share Posted March 18, 2013 The price may be going up now, but when the government cracks down on all the drug websites there being used on they will become worthless. Link to comment Share on other sites More sharing options...
Obelix Posted March 18, 2013 Share Posted March 18, 2013 yes, me too mafya bit coins are mainly for online transactions and they're supposed to be quite stable cf FIAT, simply by way of having a limited supply i'm guessing that the rocketing price must mean there's starting to be a huge demand or something! Gold isn't a fiat currency and that's been climbing recently as well... With an inelastic supply an increase in demand is always going to show an increase in price, that's basic economics. Link to comment Share on other sites More sharing options...
Solomon1 Posted March 19, 2013 Author Share Posted March 19, 2013 Gold isn't a fiat currency and that's been climbing recently as well... With an inelastic supply an increase in demand is always going to show an increase in price, that's basic economics. read my quote again obelix... supposed to be quite stable cf FIAT, simply by way of having a limited supply 'cf' means 'in comparison to' FIAT Link to comment Share on other sites More sharing options...
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