Less than two months ago I forecast Bitcoin was set to overtake the price of gold, and today Bitcoin hit an all-time high of $1,275 and now trades higher than the price of an ounce of gold which is $1,237 at the time of this post.
But does this mean Bitcoin is the new Chinese Gold?
In China it probably does, but likely not so much in the developed world.
In North America we already have a great system that’s fair and equitable and it just works, but that cannot be said for China and the developing world.
China has a financial system that enables Bitcoin to be of great value, and I suspect it could also become popular in India given recent changes there.
If anything is going to become incredibly successful it first needs to solve a real world problem and be the real solution, while that’s certainly the case in China I just don’t see the “massive problem” Bitcoin solves in North America.
For me Bitcoin is just a toy I pull out of the cupboard from time to time to give someone Reddit gold or play around with new tools, but I’m always interested in knowing what other people are doing with it.
If Bitcoin has provided you with some “great advantage” or changed your life in some way I’d really love to hear about it, so leave a comment below if you have something interesting to share about the way you use Bitcoin.