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[onlyprofits]

Jonathan Ruffer, Chairman of Ruffer Investment Company Limited, used to say that Bitcoin is a "nonsense" asset, but having performed excellently after the rally that began in December now says that it does make sense. This company in November allocated 2.5% of its multistrategy fund in gold to Bitcoin, to hedge against the "continuous devaluation" of gold, which has lost 4% of its value, while BTC has gained 92% of its value, this figure momentarily rose to 123% when BTC rose to $ 42,000.
This firm has 20.3 billion in assets as of November 30 and employs some 330 people.
Apparently even the institutions most opposed to Bitcoin have been forced to evaluate their behavior and the possible of their assets in the cryptocurrency.

 

[Niftyicon]

Well, that is trending now. Many people who came out to condemn bitcoin and Cryptos in general now have huge funds invested in that same 'nonsense'.

 

[Hashay]

Well, that is trending now. Many people who came out to condemn bitcoin and Cryptos in general now have huge funds invested in that same 'nonsense'.

It's no longer news that bitcoin is now a trending profitable online venture so it won't be suprising to see more people who crticized the coin come back to invest.

 

[Wisdom01]

Well, that is trending now. Many people who came out to condemn bitcoin and Cryptos in general now have huge funds invested in that same 'nonsense'.

most of these people are just there to scare off investors that want to invest in Bitcoin , they actually give Bitcoin different name and others ,just to less praise it ,but despite everything Bitcoin is still existing ,and I know that after some time it would get to boost well

 

[fiery phoenix]

Bitcoin has silenced its critics for a long time,and some who criticised it are now top investors in the coin,I think we should give an asset time before we can start criticizing it,maybe 5 years or 10 years.Asset classes are not instant successes they need a lot of time to be trusted by people and to grow

 

[Horia_10]

Definitely I can say that the asset and coin will at-least be touching 30k in 2&3 months we just have to give time to it the asset classes are definitely the time taking options and even gold tool time being scarce enough but now it is falling so you can buy both of the assets for safe long term results

 

[Rubee]

That's the power of success. It's a wonder what becoming successful can do and that's what bitcoin did. Assuming bitcoin and other crypto currencies weren't successful or failed drastically, the statement made by Jonathan Ruffer about bitcoin being a nonsense asset would have been true. The moral lesson from this is that as investors or businessowners, we should strive to be successful even when people do not believe in us.

 

[Horia_10]

I agree bitcoin has real life value and it has always gone up in the market when the fed has hinted at raised rates for the investors , Now when gold is rising in the market bitcoin is falling so you can invest in both gold and bitcoin to have profits coming from both sides .

 

[Ben Kempton]

most of these people are just there to scare off investors that want to invest in Bitcoin , they actually give Bitcoin different name and others ,just to less praise it ,but despite everything Bitcoin is still existing ,and I know that after some time it would get to boost well

Many people criticise Bitcoin due to the fact that it is a digital asset, not a real commodity like gold or oil. This is one of the main reasons why many critics have been sceptical of Bitcoin. In fact, I have even seen many people comparing Bitcoin with the E-Gold payment processor services that used to offer "Digital Gold" and claimed that the value of the dollars in the accounts of account holders is backed up by the golds in real banks. I do not think that it is fair to compare E-Gold with Bitcoin because Bitcoin is different and a decentralised digital asset where as E-Gold was not.

 

[Wisdom01]

Many people criticise Bitcoin due to the fact that it is a digital asset, not a real commodity like gold or oil. This is one of the main reasons why many critics have been sceptical of Bitcoin. In fact, I have even seen many people comparing Bitcoin with the E-Gold payment processor services that used to offer "Digital Gold" and claimed that the value of the dollars in the accounts of account holders is backed up by the golds in real banks. I do not think that it is fair to compare E-Gold with Bitcoin because Bitcoin is different and a decentralised digital asset where as E-Gold was not.

I wonder why they would lay in such comparison , from staking to mining ,there is a big difference between the two, Bitcoin even have a limited supply ,which denotes scarcity , and also a very different staking pattern and decentralized nature compare to the egold

 

[Ben Kempton]

I wonder why they would lay in such comparison , from staking to mining ,there is a big difference between the two, Bitcoin even have a limited supply ,which denotes scarcity , and also a very different staking pattern and decentralized nature compare to the egold

"E-Gold" is a different company. It was basically a payment processor that claimed that the value of the dollars in the accounts are backed up by the gold. This was the basic concept of "digital gold" as it was represented by the company before the government of the United States closed it down due to legal issues. Bitcoin is entirely different kind of asset. However, many sceptics claim that since both of them are related to the digital world, there must be some sort of similarity between the both, which I think is not true.

 

[Wisdom01]

"E-Gold" is a different company. It was basically a payment processor that claimed that the value of the dollars in the accounts are backed up by the gold. This was the basic concept of "digital gold" as it was represented by the company before the government of the United States closed it down due to legal issues. Bitcoin is entirely different kind of asset. However, many sceptics claim that since both of them are related to the digital world, there must be some sort of similarity between the both, which I think is not true.

the only similarities for me is the digital means ,apart from that there is actually no comparison between the two , I believe there is a huge difference, because interms of interest from investors ,market cap value and others , there is really a very big difference between the two no doubt with the look of things

 

[Horia_10]

The interest is big but more people are selling at this point and 51% sentiment has a clear say when it comes to the selloff in the market daily at mid afternoon intervals that is causing the market to move downwards each day after reaching a high point daily so you have to be prepared for the market to move as per the buyers in the market .

 

[Ben Kempton]

the only similarities for me is the digital means ,apart from that there is actually no comparison between the two , I believe there is a huge difference, because interms of interest from investors ,market cap value and others , there is really a very big difference between the two no doubt with the look of things

There are many differences between the two if you ask me. The similar were a few. For example, both E-Gold was used as a payment processor or a kind of transferable "asset" in the form of "digital dollars". Bitcoin is also being used for the same purpose. However, E-Gold was centralised, while bitcoin is not.

 

[Wisdom01]

There are many differences between the two if you ask me. The similar were a few. For example, both E-Gold was used as a payment processor or a kind of transferable "asset" in the form of "digital dollars". Bitcoin is also being used for the same purpose. However, E-Gold was centralised, while bitcoin is not.

yeah but I think the payment processor similarities is random , because there are other payment processor too , the main difference between them should be the centralised and decentralized part or nature of Bitcoin , that's actually the vocal point

 

[Horia_10]

The real thing is the nature of the assets we are talking about and that is why fiat payments are never attached with when we are talking aboit Crypto and that is why centralized system is as corrupt as it can be and the Crypto is not that " decentralized " as well to be honest actually .

 

[Ben Kempton]

yeah but I think the payment processor similarities is random , because there are other payment processor too , the main difference between them should be the centralised and decentralized part or nature of Bitcoin , that's actually the vocal point

E-Gold never worked on any kind of blockchain rather it worked on computer systems and software that helped user to transfer money from one account to other account just like PayPal does. However, Bitcoin is a blockchain project that was initially created in order to serve the role of a payment processor. E-gold in itself never had any value, but Bitcoin does.

 

[Wisdom01]

E-Gold never worked on any kind of blockchain rather it worked on computer systems and software that helped user to transfer money from one account to other account just like PayPal does. However, Bitcoin is a blockchain project that was initially created in order to serve the role of a payment processor. E-gold in itself never had any value, but Bitcoin does.

that's exactly the difference , most especially the staking options and others ,I feel the egold is just a payment platform for me , it doesn't have the potential or reach to be compared vividly to Bitcoin as at the rate of development and others

 

[Horia_10]

There are many payments systems that have now become out of the markets , some were scams and some never got going , but most of them havd worked hard and they are running and payment systems like payeer is one of them that has standed the chance and has grown in challenging times which leads to it's success in the payment systems market .

 

[fiery phoenix]

Value investors like Warren Buffet and this guy believe bitcoin is nonsense because they say it does not produce anything.They look at bitcoin the way they look at the stock markets which is wrong because stock markets are not speculative investments.They do not understand the blockchain and crypto utility which backs crypto to be a real asset,