Goldman bitcoin: bitcoin name and gold difference.

Goldman bitcoin: bitcoin name and gold difference.

Goldman Sachs Global Commodity Research Director JeffCurrie said that bitcoin is a commodity has many similarities with gold, caused mainly due to fluctuations in investor concern is its lack of liquidity.

Currie in an interview with Bloomberg Television Interview, said: “I do not understand why there is so much hostility.” Bitcoin and gold and there is no difference “too much, because it is not by definition given by the responsibility to pay.

This encryption currency soared this year nearly 11 times, reaching $11000, while gold rose about 12% over the same period. Investors for bitcoin attitude is quite distinct from each other, such as Warren Buffett called “a true bubble”, while the billionaire venture capitalist PeterThiel that critics underestimate it. Nobel laureate Joseph Stiglitz said, “bitcoin success just because of its potential to avoid, lack of supervision, should be banned.

Currie said that most people do not think that bitcoin trading of the currency and gold are interchangeable, and that there is an important difference between the two.

“You can see that the ground gold total reserves of $8 trillion and 300 billion – this is the real liquidity,” he said, “the central bank controls the supply of a large amount of gold, so gold and bitcoin can not completely replace.”

Wednesday bitcoin beyond $11000 after touching $10000 milepost just a few hours. Because the buyer did not bother about the maximum number of money is an asset bubble warning.

“The lack of liquidity is the cause of this wave and everyone concerned about the cause of bitcoin,” Currie said, “in view of gold liquidity level and the size of the market, it will never be like bitcoin volatility.”

Currie said bitcoin “and many other commodities have similar properties”, “real innovation is the ledger, block chain, rather than bitcoin itself”.

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