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Back in 2003 gold ETFs were introduced for the first time. Many of which were physcially backed by the precious metal.
At the time gold was trading for roughly $300 an ounce.
Fast forward a few years and gold hit $1,900 an ounce in 2011.
That is over a 6X increase in just 8 years.
Keep in mind that all of that price appreciation wasn't due to ETFs as there was the whole "Great Recesion" in 2008 that spurred demand significantly as well.
That being said, prices still more than doubled to about $700 from 2003 to 2007, and reached $1000 an ounce just before the Recession and QE really sent prices of commodities skyward post 2009.
There certainly seems to be a correlation between the ETF demand and the price of gold. As the ETF gold demand increased, so did the price.
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ETF stands for "Exchange Traded Fund" which means that it is a security that tracks a fund or "bundle of assets". Similar to a mutual fund in some ways, and ETF gets traded just like a stock does. This makes it prone to daily price fluctuations, but is a great vehicle for traders as there is high liquidity and low fees.
The ETF fund itself actually OWNS the underlying asset and then divides that asset up into individual shares. This gives investors the opportunity to invest in the asset without having to actually hold it themselves. Basically it is an indirect way to invest in something without having to manage it or hold it yourself.
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There are only 21 million Bitcoin, and as time goes on, they become harder and harder to mine. Bitcoin makes cross border payments possible, and also provides an easy way for people to escape failed government monetary policy.
The internet made information global and easy to access. Global currency like Bitcoin will have the same impact on finance and the global economy.
Bitcoin is global and not affected by any single country’s financial situation or stability.
Global chaos is generally seen as beneficial to Bitcoin’s price since Bitcoin is apolitical and sits outside the control or influence of any particulate government.
When thinking about how economics and politics will affect Bitcoin’s price, it’s important to think on a global scale and not just about what’s happening in a single country.
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Wow, Redcab list ICO bench 4.3/5, ICO PROFILE 5.0 , team 4.2, product 4.1. RedCab LLC team have seen a clear opportunity in the Peer 2 Peer transportation industry for a unique business model to balance business goals and customer needs, supported by a powerful technical platform. With variations in tariff calculations from one country to another and even from one city to another, RedCab LLC has managed to keep this tool flexible to change the best pricing formula without price spikes or high costs on holidays or bad weather. I think this good project so I will join ICO.
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Usechain is built on mirror identity protocol merged with high-level innovations in structure design and technology to eliminate the delays in the process of developing blockchain and bring a perfect balance between scale, security, and decentralization. Usechain introduces a new consensus mechanism RPOW, Randomized Proof of Work to balance high performance and strong security, and apply multi-level authentication and encryption mechanism, Zero Proof, Identity Virtual Machine, Identity Network Sharding and etc. UST is the first blockchain 3.0. Team and advisors very strong. I like project, good luck !
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as with anything valuable, hackers, thieves, and scammers will all be after your bitcoins, so securing your bitcoins is necessary.
I recommend using Bitcoin wallets that were built with security in mind:
Ledger Nano S – Ledger is a Bitcoin security company that offers a wide range of secure Bitcoin storage devices. I currently see the Ledger Nano S as Ledger’s most secure wallet.
TREZOR – TREZOR is a hardware wallet that was built to secure bitcoins. It generates your Bitcoin private keys offline
Bitcoins should only be kept in wallets that you control.
Because Bitcoin is on the internet, they are even easier to steal and much harder to return and trace. Bitcoin itself is secure, but bitcoins are only as secure as the wallet storing them.
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It seems silly to some people that one bitcoin can be worth hundreds of dollars.
What makes bitcoins valuable?
Bitcoins are scarce and useful.
Let’s look to gold as an example currency. There is a limited amount of gold on earth.
As new gold is mined, there is always less and less gold left and it becomes harder and more expensive to find and mine.
The same is true with Bitcoin.
There are only 21 million Bitcoin, and as time goes on, they become harder and harder to mine.
Bitcoins can be sent from anywhere in the world to anywhere else in the world. No bank can block payments or close your account. Bitcoin is censorship resistant money.
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Blockchain technology and industry have made great progress since 2009. Bitcoin and Ethereum have brought about innovative ideas and concepts such as“decentralized currency” and“smart contracts” into the world of blockchain technology. The potential blockchain and cryptocurrency have allowed society to be autonomous and secured. However, performance inefficiency, poor scalability and high technical threshold have limited blockchain technology to only be applied in cryptocurrency trading and exchange. Although many underlying blockchain communities have made tremendous contribution to optimize the technology, blockchain has not yet to be adopted by the mass market like Internet because of the lack of commercial support and weak connection with market. The potential huge market
value of blockchain industry has not been fully recognized
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Hard wallets are the most secure and user-friendly way to store your bitcoins. They’re like little banks that fit into your pocket. Hardware wallets are small, portable, air-gapped devices that generate your private keys offline.
Trezor and Ledger Nano S and KeepKey are three of the most reputable hardware wallets that support Bitcoin (among other currencies) and that employ two-factor authentication to further secure your funds. The devices are password protected, which means you can regain access to your bitcoins and keychain in the event that you lose the physical device by providing the password.
Run antivirus software on your Windows PC, Mac and Android devices. Screen your emails carefully, and set up two-factor authentication on every online account that lets you. Encrypt your hard drives and mobile devices, and make regular backups of them.
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Banks generally charge fees for doing absolutely anything that includes money, even when they just hold onto it. Banks have created a high level of trust that your transactions will pass smoothly. But, after the financial crisis in 2008, banks lost some of that trust.
Using blockchain as a digital network, where every single transaction (called a block) is securely linked together makes transactions verifiable, available to everyone and is more immune to hacking than centralized banks. This makes banks totally unnecessary for transactions. This is what motivates them to ban cryptocurrencies altogether.
Virtual currencies are self-governed, meaning they are not controlled by any government, person or a central authority. This makes monitoring almost impossible and poses a threat for government authorities (this was especially true for China).
Finally, using cryptocurrencies is posing a threat to the stability of the national currency in some countries (Indonesia).
It is important to stress that banning cryptocurrencies will only create black markets. They can be declared illegal but it will have no effect on the use of cryptocurrencies due to their decentralized nature. To kill cryptocurrencies altogether, all governments from all over the world would have to ban them.
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Bitmillex is the next generation exchange that aims at taking advantage of the opportunities and addressing the areas of deficiencies identified in current exchanges and providing a solution for traders and investors. Designed to be the world’s most secure and complete cryptocurrency exchange, Bitmillex is developed by experienced traders and experts in cybersecurity and the use of blockchain financial solutions. These are auto-trade options which works by copying trades from selected traders as well as peer to peer lending. Under both schemes, investors earns even if he/she isn’t trading actively. I like this project and I will trading Bitmillex exchange in the future. good luck
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Arizn is developing an ecosystem of supporting and connecting products that combine multiple financial markets into one unified and decentralized platform. This creates a range of potential revenue streams.
Project will be success soon! This project is a good and strong team, in a predictable and transparent road map, planned and projected. I trust in this project, and is sure that it will prove to be very powerfully in the nearest future. Good luck sold out ICO and taget 25milion $
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The goal of KNOX is to reach, by exploiting the blockchain, a decentralization of the whole insurance system. Decentralization means the transformation of traditional insurance policies from paper into smart contracts. With the smart contract in the event of accidents the real judge who will decide whether or not to pay them is no longer the company, which could have an opportunistic behavior. I think the KNOX project will be the first insurance company that merges the real world with the digital one using Blockchain technology, creating the most efficient and advanced structure in the sector
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Wow, WPP ENERGY list ICObench rating 4.3. Team rating 4.7, ICO PROFILE 4.9, vision 4.4 I think the WPP ENERGY project which undoubtedly deserves support because their work can change the world to the best! WPP ENERGY will apply the most powerful advanced tech that globally helps second and third world countries to have new opportunities to address large housing and energy issues. I like this project and team I will invest ICO. Good luck
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I think BTC can't become a legit currency because erratic price movements of cryptocurrencies, BTC volatility makes them an unstable currency of value and hampers their ability to be used as reliable payments for goods and services, fee expensive, trading usually obstructive. I think the USDT is a more legitimate currency than bitcoin in Cryptocurrencies market.
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There are two big groups of reasons – one group of reasons is officially stated by almost every aforementioned country: cryptocurrencies are banned because of security issues. The other group of reasons are usually not stated officially but is largely implied. It is directly associated with cryptocurrencies being decentralized: cryptocurrencies allow people to trade directly with each other (peer to peer), cutting out the need for a middleman, which traditionally is a bank.
The anonymous nature of cryptocurrencies means that it can be used for illegal transactions - such as buying and selling drugs or weaponry. According to central bank officials, cryptocurrencies can also be used for money laundering or terrorism. The case of NHS shows that cryptocurrencies allow hackers to request ransom payments and stay anonymous.
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I think BTC can't return back 20.000 USD as time 2017, because lending no longer exists so there is not much money to pour into the market crypto. Multiple ICO scam, dump making investors afraid. Last year's multiple ICO pump x5 x10 should attract more people and many sources of money so BTC pump 20.000 usd and market cap 800 billion USD
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