Date: 6 months ago   Category: Economy

The bitcoin does not die, it only acquires the status of digital gold: former head of JPMorgan


In article published in Yahoo! Finance, Alex Gurevich, professor of mathematics and the former executive director of JPMorgan considers that bitcoin every day?? approaches becoming digital gold closer and closer, but does not die. Despite rise and falling of various altkoin and forok, time works for bitcoin, but not against it. Every day it does not disappear, it approaches the status of digital gold, - he told.

Focusing attention of readers on why gold and other precious metals were always used as a means of exchanging throughout centuries, Gurevich said that as they not so easily are oxidized and remain in a constant form, so, keep the value throughout a long time.

However among all precious metals, gold is not the most widespread and the most rare. It claimed that throughout centuries exactly thanks to "golden mean" gold became currency which can be used around the world, but also not so widespread that production could break its price easily.

Thanks to these advantages gold could endure the competitors and as a result get comprehensive trust of people. Gurevich considers that though Efirium fights for the status of digital copper, bitcoin on the way to becoming digital gold. It means that while Efirium's price will change, depending on demand, the need for bitcoin will be caused?? only need of that it was liquid storage of value.

according to Gurevich, bitcoin is the leader in a race in receiving this title, he explained that advantage on the party of this currency, and it the same that gold made with other precious metals (which could have or not have the best esthetic preferences and to be more rare, than it), the bitcoin is at a stage of advancing of the competitors. Considering a historical picture of trade in precious metals, purchase of bitcoin in 2015 was rather easy. But now, in 20 multiple increase (including форк) the early prices, it is a difficult trade dilemma. The bitcoin can be "bubble", but it is important to remember that in 2014 it had big "explosion", and even this year the market became the witness of the fact that the bitcoin suffered two significant corrections. Further Gurevich added that every time when he survives and is stabilized, he gets additional trust and approach to the status of gold.

Gurevich not only who considers that bitcoin on the way to become digital gold. The cofounder of Apple Steve Wozniak told that the bitcoin is "pure digital gold" and, unlike many cryptocurrencies, "completely decentralized" as it is not guided by the company and has no business model. Only bitcoin this pure digital gold... and I completely trust in it. The bitcoin is defined mathematically, there is a certain quantity of bitcoin, and a way of its distribution... and it is clean, people do not work, there is no company, and it is simple...

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