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Bitcoin's Value Surpasses the Value of Gold

     
9:17 am on Mar 3, 2017 (gmt 0)

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It seems Bitcoin's vaslue has been on the rise, and it's now, for the first time, beyond that of gold. I wonder if that is sustainable!
It closed at $1,268 on Thursday while a troy ounce of gold stood at $1,233.


[bbc.co.uk...]
7:43 am on Mar 17, 2017 (gmt 0)

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As I'm understanding it, some of the cryptic aspects of cryptocurrency make it difficult or impossible to regulate, so the SEC was unable to approve an electronically traded fund which would have help Bitcoin's fortunes soar.

Instead...
Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF
Mar. 10, 2017
[businessinsider.com...]

Bitcoin is crashing after the Securities and Exchange Commission rejected Tyler and Cameron Winklevoss' proposal for an exchange-traded fund. The cryptocurrency plunged more than 16% in the moments after the decision was released and is now down 14%, or $192, at $1,000 per bitcoin...

..."...the commission believes that the significant markets for bitcoin are unregulated," it continued. "Therefore, as the exchange has not entered into, and would currently be unable to enter into, the type of surveillance-sharing agreement that has been in place with respect to all previously approved commodity-trust ETPs - agreements that help address concerns about the potential for fraudulent or manipulative acts and practices in this market ...."
 

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