A friend whose smarts and background I admire very much wrote something quite provocative about digital currencies and gold.
He said a few days ago, "It is more likely that both will soar. Strangely enough, many bitcoin fans are also goldbugs."
I have to agree. This means that the goldbugs who are into BitCrap may be the first out the door as digitals fail. However, rationality flys away as a bubble develops, and "bubble" can only be defined after the fact, meaning no one can know when it will end.
That being the case, the status quo may prevail far, far longer than anyone may yet be thinking. Thus, and assuming no other new influences on the markets, gold and miners may continue down, as BitCrap prices rise.
No matter. A great discovery in mining trumps everything else always.
VP
