RE:RE:RE:RE:shortsI know this is an EDV forum, not a Bitcoin one, but there hasn't been much action here lately , and not much to write about re: EDV. Just watching gold and EDV slowly chug higher. I am waiting for when they start buyng shares. And for how big the dividend will be this year. Otherwise everything seems pretty predictable (I guess they could hit a big surprise deposit somewhere) we know what production will be and so on. The price of gold isn't as predictable and will affect how big a pile of cash they soon have. I read a little while ago that B2Gold had $600 million in cash, and pretty soon will have more than a billion - cash. EDV is about a year behind B2, cash wise, but soon will also have large idle sums. EDV seems like it might be more active using that money, like by buying shares back, and building and improving mines.
But back to Bitcoin... For sure one can make money buying and selling Bitcoin, the volatility allows that. You just need to buy the dips and sell the peaks - easy. And Bitcoin is unique in that it is a pure play on human emotions. Most things have a supply/demand component that at least influences prices; or if you bet on sports say , have all kinds of factors that will affect the outcome of your bet; or if you go to the casino and bet on the roulette table say, that is as close as you can get to a perfectly random bet - mechanically random. Now you might say that the daily fluctations in EDV are based on human emotions, and that is somewhat true, but to me it seems the price changes are mostly based on the price of gold, which is influenced by all kinds of non human emotions things, and the reason EDV has a market cap of over $7 billion, today, is because of of all the hard facts that make it such a great gold company.
Bitcoin on the other hand could be worth a trillion or zero. Both make as much sense. Everytime I have gone into the details and the mechanics of Bitcoin I have thrown up my hands in disgust and shouted and screamed that this is insane - I do this looking at home now, not at coffee shops anymore.
I read the other day that the Chinese digital currency that is being rolled out will feature digital Yuans , and each of the Yuans will have the equivalent of a serial number. Now paper money does have serial numbers ( I just checked a Canadian twenty and it does have a unique number attached) , but except in movies where they are always checking and tracking the money , I dont see those numbers having any significance. But in a digital currency , where total machine tracking , of every Yuan for example , can happen, that is a different story. So I just wonder which system governments around the world will prefer? One where they have their own digital currency where every dollar, peso, yuan etc can be tracked; or parallel currencies ,which seem to number in the hundreds now, where the amount of currency in circulation, the movement of it, the value of it, and everything else is totally uncontrolled , and in the hands of unknown actors. Some might say gold is like that - outside gov control. But for one , lots of the gold in existence is owned by governments, locked away underground in vaults, and the amount and the movement of gold in general is easily known. And gold is in no way a currency. You will not be spending gold coins anytime soon, and gold backing a currency is not the same as being a currency. The entire country of America backs the US dollar, but that doesn't make America a currency.
In conclusion then, the logical end value of Bitcoin , and all the others is zero. But for awhile longer it will be a fun and easy place to satisfy your gambling urges.