Commentary from the Agcenter

Discussion in 'Crypto Assets' started by Overnight, Dec 11, 2017.

  1. Overnight

    Overnight

    Even the beefers are chiming in...

    "For those who live with markets every day, it has been hard to ignore the phenomenal rise of prices in the cryptocurrency BITCOIN. In the year 2010, two years after the internet currency was introduced, it took 10,000 bitcoins to purchase a pizza. Today one bitcoin is worth $15,000. This year the price has risen from $1000 to $15,000. The mania this has produced is otherworldly. Last week, the largest bitcoin dealer reported new accounts opening at the rate of 100,000 a day. Coinbase, the bitcoin exchange, now claims more accounts than eTrade and Charles Schwab combined. The CME and CBOE will open trading in futures and options next week on bitcoin prices cash settled to a blockchain of transactions in the currency.

    Many in the cattle business can predict this will end badly for some. It may not happen soon but the risk of hysterical investing is as old as time itself. People are not buying bitcoins for use as a currency but as an investment asset to hold and hoard. This reduces the remaining supply and forces the price higher. The bitcoin market is wild and wooly but the blockchain technology underlying the bitcoins, is rock solid, and will be a major structural feature in many of the daily transactions we complete in the livestock industry every day."

    http://www.agcenter.com/newcattlereport.aspx
     
    CALLumbus likes this.
  2. algofy

    algofy

    You know the adage, when the beefers start....