Press "Enter" to skip to content

Posts tagged as “bitcoin-precious metals”

Why Cold Wallet Bitcoin Storage Is Not “Technologically More Complex” Than Storing Bitcoin Online

A neutral and to the point Guardian article today discussed how someone who goes by the pseudonym TradeFortress lost $1 million of users money on his developed site Inputs.io.  At the end of the article, the Guardian points out how TradeFortress recommends everyone store bitcoins offline, even if they developed the code of an online wallet. But The Guardian writer points out that,  “Bitcoin users face a trade-off between security and convenience. Storing the coins offline, as TradeFortress now recommends, is technologically more complex – and also makes it harder to spend them in the real world.”

Bitcoin Runs Laps Around Precious Metals, Nearly 40% Gains Since Feb. 1

The digital gold standard known as Bitcoin has shown impressive strength in the mist of the recent drop in all precious metals.

Gold lost 40 dollars in a 24 hour period to close for the weekend at $1610.30. This loss reflects a 2.4% drop. Silver had a more significant drop falling from $31.00 to close at $29.80 dollars an ounce.

This reflects a 3.4% drop in the common man’s gold. These drops have occurred despite, as Harvey Organ reports, the gold demand for the quarter was 6% higher year-on-year at $66.2bn marking the highest ever Q4 total and driving annual demand in 2012 to a record value of US$236.4bn.