Bitcoin Forum

Bitcoin => Press => Topic started by: CrimBit on July 13, 2016, 11:42:14 AM



Title: [2016-13-07] Bitcoin Trading Volume In Brazil Surpasses Gold Volumes
Post by: CrimBit on July 13, 2016, 11:42:14 AM
Brazil Warms up To Bitcoin Trading

This trend got stronger as the year 2016 progressed, with Bitcoin trading reaching twice the value of gold trading in that month.But what is driving Brazilian customers and investors to Bitcoin all of a sudden? Gold is an excellent store of value, and its value appreciates over time due to scarcity.

Bitcoin is gaining in popularity all over the world, and Brazil is no exception to this trend. BitValor, a website tracking the Bitcoin trading volume in the whole country, there is a significant trading volume increase compared to all of 2015. Albeit 2015 was successful, exchanges had reported a R$113m trading volume over the course of twelve months. The year 2016 is a 45% increase in numbers, and we are only halfway the 12-month period. Moreover, the first semester of 2016 saw a Bitcoin trading volume equal to the previous three years combined across all Brazilian exchanges.

http://www.livebitcoinnews.com/bitcoin-trading-volume-in-brazil-surpasses-gold-volumes/


Title: Re: [2016-13-07] Bitcoin Trading Volume In Brazil Surpasses Gold Volumes
Post by: gentlemand on July 13, 2016, 12:44:23 PM
The majority of real gold trading is retail I presume so it's never going to show up in any type of official metric. Still, a cool little statistic.


Title: Re: [2016-13-07] Bitcoin Trading Volume In Brazil Surpasses Gold Volumes
Post by: richardsNY on July 13, 2016, 04:45:09 PM
The majority of real gold trading is retail I presume so it's never going to show up in any type of official metric. Still, a cool little statistic.

Here where I live every bit of sold or bought Gold by any kind of retailer, pawnshop etc, has to be noted and submitted on a monthly basis to the government due anti terrorism laws. I am however not sure whether or not this information will be used for anything other than the law's purpose.


Title: Re: [2016-13-07] Bitcoin Trading Volume In Brazil Surpasses Gold Volumes
Post by: Hazir on July 13, 2016, 04:58:40 PM
The majority of real gold trading is retail I presume so it's never going to show up in any type of official metric. Still, a cool little statistic.
And we have the same case with the P2P trading. I don't think it can be measured with close degree of probability, if at all.
As in this article author base his observation on official exchange volume and transaction numbers.


Title: Re: [2016-13-07] Bitcoin Trading Volume In Brazil Surpasses Gold Volumes
Post by: Kprawn on July 13, 2016, 06:03:13 PM
The majority of real gold trading is retail I presume so it's never going to show up in any type of official metric. Still, a cool little statistic.

Here where I live every bit of sold or bought Gold by any kind of retailer, pawnshop etc, has to be noted and submitted on a monthly basis to the government due anti terrorism laws. I am however not sure whether or not this information will be used for anything other than the law's purpose.

The terrorism reason is just a smoke screen. They need to track gold ownership to know where to go, when they want to confiscate it. It's been done before and it will happen again. I think people in

Brazil are just hedging against the falling local fiat currency value, so they are just protecting their wealth. Bitcoin looks very volatile in the short term, but when you look at the long term value, it is

actually keeping it's value very well... A year ago, bitcoins sold for $200+  ;)


Title: Re: [2016-13-07] Bitcoin Trading Volume In Brazil Surpasses Gold Volumes
Post by: gentlemand on July 13, 2016, 06:33:24 PM
I am however not sure whether or not this information will be used for anything other than the law's purpose.

Why would they bother? It doesn't benefit them in any way and it just adds paperwork.

Considering how much of a grind exchanges can be it would be very interesting to see Bitcoin market turnover including p2p and OTC. That's not possible of course but it might open a few eyes.