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Author Topic: [CNBC Report] Only one global currency trounced the dollar this year  (Read 295 times)
irfan_pak10
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December 29, 2015, 05:20:13 PM
 #1

Bitcoin's back: Big year for controversial digital currency
Bitcoin is up over 40 percent this year. The U.S. Dollar Index: a gain of 9 percent
.[/i]

The U.S. dollar has had a nice run. It's been the talk of global currency trading all year long.

And why not? After years of a weak greenback due to dovish Federal Reserve policy, the Dollar Index has extended big 2014 gains, up near-9 percent against a basket of major world currencies this year. Some individual currency trades, like USD/Brazil Real, have netted currency investors huge returns.

But to find what's arguably been the best global currency in 2015, an investor might need to put quote marks around the term "global currency."



It would have been easy to dismiss bitcoin after a surge that had taken the digital currency's price over $1,000 on some exchanges crashed in late 2013, but it's back, up more than 40 percent this year to a value of $428. And bitcoin backers say despite all of the detractors and the 2013-14 doldrums, the controversial digital currency will continue up, as the number of bitcoin users and transaction volumes around the globe surge.
"We're seeing this up and to right growth in transactions," said Coinbase vice president Adam White. "That's the utility value going up as people use it more."

The number of financial institutions — as well as self-regulatory bodies, like the Depository Trust Clearing — endorsing the blockchain technology has given credit and value to bitcoin. "It's gone from cool tech 'I don't understand' to more mainstream," White said.

Quote
Bitcoin: By the Numbers

Venture capital investment in bitcoin-related businesses reached $1 billion in 2015.

The 100-millionth bitcoin transaction is expected to take place before the end of the year (per TradeBlock estimate).

More than 200,000 daily bitcoin transactions took place on average in December, up 136 percent from the year-ago period.

More than 51 percent of bitcoin users are based outside the U.S. versus 44 percent in January 2015 (based on Coinbase users).

Bitcoin-related code written by developers reached 7,000 in December, up from 1,000 bitcoin codes in mid-2013. The number of PayPal-related codes is below 3,000 (based on Github depository references).

Read More here: http://www.cnbc.com/2015/12/28/only-one-global-currency-trounced-the-dollar-this-year.html

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Cass LeChat
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December 29, 2015, 11:41:21 PM
 #2

This is sweet.

Yeah, I always find it interesting when ppl are like "didn't bitcoin drop though?"

I'm like "Dude - someone created a currency that in under 10 years is trading at hundreds of times more value than USD".  Roll Eyes

It was so cool to see a ton of infrastructure being built this year to help ease of transition from Fiat to BTC.
pawel7777
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December 30, 2015, 12:00:19 AM
 #3

I wonder whether we'll hear anything from all those last year critics (ie Peter Schiff) who slandered Bitcoin for being the worst performing asset of 2014.

I sense they're not going to be very vocal about bitcoin this year.

Ps. Why did you post this in politics and society? Should go to main board imo.

SyGambler
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December 30, 2015, 01:06:42 AM
 #4

I wonder whether we'll hear anything from all those last year critics (ie Peter Schiff) who slandered Bitcoin for being the worst performing asset of 2014.

I sense they're not going to be very vocal about bitcoin this year.

Ps. Why did you post this in politics and society? Should go to main board imo.

yeah man I read that in one of the biggest magazines , the topic was about the worst investment in 2014
I read it and they considered btc as the worst , maybe people will start to realize soon
I guess 2016 is bitcoiner's year

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December 30, 2015, 03:36:31 AM
 #5

I would advise you guys not to get too much excited about the recent spike in the Bitcoin exchange rates. Bitcoin lost close to 80% of its value (in terms of exchange rate against the USD) in 2014. A modest uptick would be good, but we should not brag about it. The issue is that this recent uptick seems to be a result of short traders accumulating coins, in the expectation of the block reward size halving. I would be cautious.

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BADecker
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December 30, 2015, 04:00:18 AM
 #6

Well, it only makes sense.

The U.S. Dollar is the global dollar. When governments borrow money from the International Monetary Fund, or from the U.S., they borrow it in the form of the U.S. Dollar. When they make payments on their loans, the payments go back into the records as U.S. Dollars.

Essentially, even though we play with other currencies, right at the moment the U.S. Dollar is really all there is.

Smiley
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