Gold Companies are Rushing into Bitcoin

[Musent]

gold is getting killed by the etfs and gold exhanges which dont have gold but paper gold
there is about 100 contracts of paper gold to 1 physical in the paper exchanges
making the price of gold artificially low
bitcoin should avoid or be careful of making these paper exchanges where price is discovered

not sure if that is good, bad, or indifferent for bitcoin.

Honestly, I'd say good. In theory, bitcoin could become gold 2.0. A lot of things would have to happen though.

[wordman267645]

It's really a good article. If more and more companies are involved soon bitcoin will be the mainstream in the current market.

[galbros]

Obviously I am a fan of bitcoin and hope the price goes up.  While I think it's great that more companies are looking into trading bitcoin I don't think it will have much acceptance as a gold substitute.  While I think of bitcoin as "electronic gold" the simple fact is that it's price is far too volatile to be a good store of value at this point.  Maybe some day, but not anytime soon.  Most defenses of bitcoin's value I see now are focused on the value of the network.

I do worry that the rise of ETFs, which I think are great and will help the price, may encourage more fractional reserve type activities that in turn bring bitcoin additional negative attention.

[Mightycoin]

Cool, thanks for the share. Hope BTC really becomes like gold in futue

[Kprawn]

Well if it was true, the BTC price, would have skyrocketed to $10 000+ per BTC

If only a small percentage of the gold investors convert to BTC you would see the biggest rise in the BTC price, since it's existence.

But people love the shiny yellow metal too much. {They need to invest in something they can touch, even if they cannot lift it.}

I see loads of companies targeting BTC hoarders to buy gold and that worries me, more.    

[Hunyadi]

I think it is feasible for every investor to have small portion invested in bitcoin, especially gold bug could embrace the idea of bitcoin. There is so much upside in bitcoin, and bitcoin should work as a very good diversification strategy for open minded investors.

[Chompa]

If goldcompanies were rushing then the price wouldn't have been stagnant for this long. These are articles that are trying to hype things a little extra which isn't bad really.
Fact is we are in range $400 - $670 range for already 7 months. Hopefully september can bring some change and take us above $700 again.