Gold Silver Reports – Australia’s central bank chief made a scathing assessment of Bitcoin, saying the cryptocurrency that’s soared above $17,000 is more likely to appeal to criminals than consumers.
Money Market
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Cut in Fees for Smelters is a Risk for Domestic Copper Producers
Gold Silver Reports – Cut in Fees for Smelters is a Risk for Domestic Copper Producers | Copper smelters and miners are in a standoff over the annual benchmark rates for copper treatment and refining charges (TC/RCs). India’s custom copper smelters, run by Hindalco Industries Ltd and Vedanta Ltd, will be keenly awaiting the final outcome. Investors should too. These charges are one determinant of their copper division’s profits in the forthcoming fiscal year.
Bitcoin Looks like Bubble, New Zealand’s Central Banker Warns
Gold Silver Reports – Bitcoin spectacular gains look like a speculative bubble and the cryptocurrency is too unstable to be useful in the future, New Zealand’s central banker said.
A Winklevoss sees Bitcoin Surging as much as 20 Times Higher
Gold Silver Reports – Cameron Winklevoss, thought to be one of the largest holders of bitcoin, thinks the cryptocurrency’s blazing gains this year are just the start. He predicts it will rise as much as 20-fold as investors come to view it as an upgrade to gold.
Bitcoin and Gold: A Growth Comparison | Gold Silver Reports
Gold Silver Reports – Bitcoin and Gold: A Growth Comparison – An inherent tension exists between the two major purposes of money. Currencies that are perceived as great stores of value, such as gold and bitcoin, make for poor mediums of exchange. By contrast, currencies that are effective mediums of exchange, such as fiat currencies used the world over, can make for dubious stores of value. Where a currency falls on the store of value versus medium of exchange spectrum influences its usefulness as a unit of account and a standard of deferred payment.
Bitcoin Breaches $13,000 as Futures Move Closer to Reality
Gold Silver Reports – Bitcoin topped $13,000 for the first time, pushing this week’s gains to more than 30 percent amid speculation that the use of futures will help make digital currencies a legitimate asset class for mainstream investors.
Goldman Alum to Help Sell Debt From Places You’ve Never Heard Of
Gold Silver Reports – Goldman Alum to Help Sell Debt From Places You’ve Never Heard Of – Raiffeisen Bank International AG wants to boost its ranking among global bond arrangers by opening up debt markets in countries some investors may be hard pushed to pinpoint on an atlas.