Markets reacted as expected today except for news broadcast by the CME group. As we discussed on our most recent podcast. Bitcoin market rose Monday morning in response to the opening of the legacy banking system. Somewhat surprising the rally seems to be led by buying with US dollars. Only moderate volume is reported on btcchina.com.
Gold buying in Asia seems to remain strong. The US paper gold markets took a little dip brought on by the CME group announcement of increased margin requirements on copper. This probably encouraged selling of gold to cover copper positions.
Gold buying in Asia: http://www.kitco.com/reports/kitcoNewsMarktNuggets20130506.html
CME group increasing margin requirement: http://www.kitco.com/reports/KitcoNews20130506AS_copper.html
This is an exciting episode. Current issues are discussed including Coinlab and mtgox’s likely court battle, Max Keiser’s battle with the bankers, the proliferation of alternate chains. A breakdown of China’s state television broadcast involving bitcoin is discussed. Jerry even stops buy to discuss his well-meaning adventures on the bitcointalk.org forum. The uncertainty of the current economic state of the world including central banks reaction with Quantitative easing. It’s never a dull week when considering finance and bitcoin.
The future of money is being written each day and we are truly living in historic times. For much of human history money or currency was a physical instrument that one would have to carry with them to exchange for the good or service they wanted. Gold and silver serve as examples of money that has withstood the tests of time and still to this day are accepted as a store of value to be used in trade. Fiat currencies have dominated the recent decades as the defacto currency with the United States dollar leading the pack. With the advent of the internet and digital commerce we are seeing new and exciting changes in currency.
The internet has revolutionized how people communicate and share information. Mobile phones and wifi devices have put the sum of human knowledge in the palm of our hands, easily accessed from nearly anywhere with a cellular or wifi signal. These advancements in technology have permeated many facets of our daily lives and given rise to a new age of news, socializing, collaborating, and commerce.
Individuals and companies are coming up with new ways to harness the power of the internet for personal and commercial uses. Bitcoin is on the forefront of this new trend as people look for faster and easier ways to purchase goods and services over the virtual landscape. Not bound restrictions placed on physical currencies and not beholden to any government or institution, Bitcoin is the currency of user, by the user, for the user. No flag, no god, no government, in cryptography we trust.
The market loves Bitcoin with more and more outlets and stores accepting it. While not intended as a point of sale currency, innovative individuals have come up with ways to make person to person transactions easy and quick by adapting the ubiquitous smart phone to serve as a mobile wallet, scanner, and barcode display. More mobile apps are popping up to make Bitcoin monitoring and trading even easier.
Neocash Radio was created to chronicle and share information about alternatives to the US dollar and other government currencies. Bitcoin has become the king of the alt-currency market and after a slow but steady period of adoption we see the Bitcoin muscle flexing and markets across the globe are starting to take notice. One focus for Neocash Radio is making information about Bitcoin and similar currencies easy to understand. Toward that end we will be publishing several smaller podcasts, or micro-casts, that focus in on specific and fundamental topics.
Please navigate to the Podcast page and take a look at the tutorials and podcasts we have published. Feel free to copy, distribute and share these podcasts with your friends and family. The more individuals who use and trade with Bitcoin, the stronger and more valuable it will be come.
We are pleased to announce that the premier podcast on cryptocurrencies will be launching April 28th. We will discus issues that that are relevant to anyone who uses currency.