Some of you probably remember me saying that the final vertical phase of a bubble is characterized by price rising at least 100% or more in a year or less.

Bitcoin is clearly in the final vertical phase of its bubble. It’s now becoming more and more dangerous every day. At some point you just have to say enough is enough, get out, and stay out so you don’t get caught when the bubble pops and price comes crashing back to earth.

Folks its not different this time. There is no fundamental reason for why bitcoin will go to the moon and stay there anymore than there was for housing prices in 2006 or tech stocks in 2000.

Bubbles are a symptom of central bank monetary policy. The price of money is kept too low for too long. Eventually all that easy money begins to flow into something. When the public starts to take notice then it flows very rapidly into the asset creating a parabolic rise. At some point the last buyer buys and then price collapses.

It’s been my opinion that years of 0% interest rates and trillions in QE will create multiple bubbles. The first one is occurring in bitcoin. The second one will be in the stock market. The third one will be the commodity markets, focusing in the precious metals.

Look at this chart and understand what it means. This time isn’t different. Pick a spot where you can say “I’ve made enough” I’m getting out before this thing comes crashing down.

Then get out and stay out. Trust me you can’t time the top of a bubble. You just have to be satisfied at some point, take your money and run, and find something else that’s undervalued and not at risk of a crash.

300% since March. That is a parabolic bubble.

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  1. Gary Post author

    We will see these same insane price patterns in stocks and then in gold as the bubbles phases progress.

    There are going to be serious consequences to 4 rounds of QE and leaving interest rates at 0 for years.

    1. Bluebellkid

      This is from the article linked above:
      While a few of my global correspondents own the primary cryptocurrencies, and a few speculate in the pool of lesser cryptocurrencies, I know of only one friend/relative/colleague/neighbor who owns cryptocurrency.
      When only one of your circle of acquaintances, colleagues, friends, neighbors and extended family own an asset, there is no way that asset can be in a bubble. That’s because the pool of potential buyers is thousands of times larger than the pool of present owners.
      The skeptics will continue declaring bitcoin a bubble that’s bound to pop at $4,000, $5,000, $10,000 and beyond. When the skeptics fall silent, the potential for a bubble will be in place. But that is not the case today.
      Of course, the sources of great future fortunes are only visible in a rearview mirror.

  2. MagnuM

    It’s so frustrating watching BitCoin do this, as it seems to be doing what gold should have been doing all this time in a post-QE world…

      1. Pedestrian

        They said that about silver in the stone age but now its near 5000 year lows. Not a single country on planet Earth uses either gold or silver as money anymore but crypocurrencies will undoubtedly fit right in because they are electronic, seamless across borders and rapidly gaining acceptance. People just prefer the new to the old and lets face it, gold seems pretty stodgy and out of step in the computer age. It’s just so…slow…..

        1. Marc

          So far the government has let Bitcoin run mostly unfettered but they can’t have a monetary policy without monetary control. Soon there will be government intervention (or even just the threat) and people will exit Bitcoin faster than the exchanges can handle.

          1. Pedestrian

            You sure about that? Why would they exit when it is impossible to shut it down in the first place? Only a collective effort of all nations could possibly stop what has already started and the odds of every government agreeing to destroy wealth at the whim of Uncle Sam sounds ludicrous. These things are HUGE in Asia. Well the Revenue Department can hardly do a thing about that now can they? And Russia is creating its own crypto which is sure to add a new wrinkle. I kind of imagine cryptocurrencies are a bit like buying land from a brochure which is sight-unseen. You could be getting a piece of Florida swamp patch or you could be getting waterfront. You just won’t know what you have until you actually arrive there one day.

  3. Christian

    BITCOIN — Be honest Gary, you never ACTUALLY saw this coming, Lol!

    I remember someone asking about Bitcoin once upon a time and you called it a bunch of baloney. It would seem that suddenly Bitcoin is playing a very important role.. Who woulda thought, eh?

  4. Pedestrian

    I’m putting 5% of the cash into crypto’s. And not because I like them or have even given it tremendous thought. Its just got to be better than gold the last few years and it still looks like these things are early in their cycle. So its in the purely speculative ledger. I might go deeper if it works out. There is not a way to shut these down in reality. Not internationally anyway. I figure there will always be buyers in China when I want to cash out.

    1. Pedestrian

      They are not going away. So put that out of your minds. Just seems to me the risk of NOT owning any in the formative stage of this market is a bigger mistake than waiting to see if the idea works out. There are a handful of people out there giving these a lot of attention but for the majority its “eyes wide shut” in recognizing or acknowledging what is taking place. Maybe most here are already to old to change and adapt. Acceptance is widespread elsewhere though. Like Nigeria of all damned places. Who knew. But millionaires are being minted daily which is not the case with precious metals anymore. Personally I think Bitcoin will exceed 10,000 dollars by a wide margin before its tops judging by the look of the chart.

      1. Americano

        Check this out. Local volume of Bitcoin sold on the street via localbitcoins ( only way to buy/sell worldwide by just meeting up with strangers in your town/country).
        This is not the exchange volume obviously but shows “hot” demand for “physical” Bitcoin daily per country.
        I have monitored this daily for 3 months & am blown away at daily volume in Russia & Nigeria – let alone Venezuela.

        Seeing this hot demand that doesn’t show on official price means we ain’t anywhere close to seeing top in Bitcoin this year.

        1. Pedestrian

          Hear hear, agree with that Americano.

          Bitcoin is a blip today relative to where its going. The thing is, the bigger it gets the harder it is to stop and the fewer cooperative regulators to try to control it. At worst it will see taxation like any other appreciating asset but that is to be expected.

          Meanwhile it is rapidly gaining momentum and the general public has not even touched it yet. It soars even without broad participation or acceptance. Where will it go once it becomes mainstream?

          And of course we are talking real money here so investing in Bitcoin is every bit as legitimate as buying a derivative, futures contract or stock. Why would it end other than eventually it WILL hit a parabolic peak and crash as Gary has suggested. But its not quite like Tulip bulbs so its not going back to zero.

          I only wish I had invested when it was still below a buck. DAMN!!!!!!

  5. Americano

    2017 is still pre-season for Bitcoin which is the reserve currency of crypto & the one institutional investors will pour into when the ramps arrive in early 2018.
    See LedgerX for their options platform that was approved & John Mack – yeah the former CEO of Morgan Stanley Omega One offering for institutional investors coming next Feb.
    I got driven to Bitcoin after the BS with JNUG. Never going back.
    I GET gold guys sticking with gold & mumbling about Bitcoin – the same way a guy who got dumped by his wife/girlfriend bad mouths her afterward.
    But my suggestion is to do something productive instead of just being a victim about it.
    You can either:
    Write a country & western song about how evil Bitcoin is & how you love to hug your gold
    You can just buy Bitcoin & get rich. I suggest the latter cuz Bitcoin will DEFINITELY hit 10K next year but I think 15.
    Difference between a bubble & a wholly new asset involved in price discovery.
    Only 21 million Bitcoin. It’s capped. Gold ain’t & wont ever be.
    Get some !

  6. Americano

    Kudos to Gary for posting on Bitcoin. I’m a subscriber of his & I know that with his charting skills & sentiment nous he would tear apart the crypto markets ( alt-coins mainly as trading Bitcoin is Russian roulette vs just holding this no-brainer for a few years).

  7. Pedestrian

    Well here we are at 5:15 New York time and gold is falling along with platinum and silver. You can almost sense the despondency of the gold bugs who are (as usual) nowhere to be found on mornings when metals go limp as Romeo on hearing Juliet is pregnant.

    Yen is off, equity futures are up and the dollar is rising.

    I mentioned yesterday that I was looking for a total gold decline to just below 1200 dollars which is where we will find the .618 Fibonacci region. Something like 1192 if memory serves. To my way of charting we have hit the top and should continue down from our Friday peak although there is always a chance we put in a secondary top first.

    Very unlikely that 1300 gets taken out though so I am not even considering that.

    You long only bulls who were buying with both hands on Friday will no doubt feel a little despair if gold sheds 100 dollars during the coming weeks. So I wish you well. My sub 1200 target is just a target though, not a guarantee. Should gold bounce at the 50% mark (around 1212.00) we might know that something else is going on and the game has changed.

    My plan here is simple. Wait for a tradeable bottom and then get long miners *just in case* this coming cycle low is the one that sees gold rise above 1300 dollars and into bull market country. Should gold be unable to break free of its bear market gravity I will sell and wait for another cycle decline to try again.

    1. butch

      Gold has broken through the upper trend line of a powerful coiling triangle. The 6 month battle has been decided.

      1. Pedestrian

        Doesn’t mean you should go long miners today though. Try to time an entry on a pullback.

    2. Don

      Gold is down a measly five bucks and Pedestrian’s mouth goes into over drive with his usual bearish talk. Good sign for the bulls.

      1. Pedestrian

        More like 15 dollars below Fridays peak which is close to a 1% drop with JNUG down 3% and DUST up over 3% today. Looks to me like you lost money again. What’s new buddy. Same story as always.

  8. Gary Post author

    Governments want to control the money supply. They will shut down bitcoin by simply taxing it to death.

    1. roadrunner

      The IRS already has tax rulings on crypto’s. Americans will have difficulty avoiding paying tax on any capital gains.

  9. Kruzoe

    Since the talk to-day is about cryptos, I’ll mention that I have a small amount of Bitcoin and larger amount of Etherium which will have its day. I may buy into Neo (google it).

  10. Gary Post author

    This is how the vertical phase of a bubble starts. Traders become conditioned to buy every dip. The more times it works the more it ingrains the behavior. Then you throw in government intervention to prevent corrections from running to completion or gaining too much momentum ahead of political events, like FOMC meetings and such and you create the conditions for price to run rampant to the upside forming a parabola that eventually collapses.

    Bitcoin first.
    Then stocks,
    Then gold.

    That’s my prediction.

  11. Kruzoe

    Goild: I had to settle for sirloin steak as I did not make enough dough for Kobe for our party of 4 🙁
    Will try again this week. Checking the pre-market for a quick trade.

    1. Gary Post author

      Heck we’ve know for almost two years that gold is in a new bull market.

      Baby bull rallies don’t occur in bear markets.

      It’s been stuck in a basing pattern as the stock market begins its bubble phase.

      If stocks can give us one more good correction in October we should start to break out of the basing phase. But don’t expect any fireworks this year. The bubble in stocks has to burst first before capital really starts to flow into gold. Probably the bubble in crypto currencies also has to pop as well.

      1. Pedestrian

        You could be right about that Gary. That surprise move up in gold from the middle of August would not have happened if the Nikkei had not sold off thus pushing up the Yen. We have a pattern already where gold does not get really responsive until stock markets go soft. That could mean that even if we do get an equities correction in the fall and a big boost in gold that it could all be reversed again once stock markets resume their upward trend. Just something to consider before taking on long term buy and hold positions.

        1. Gary Post author

          The bull began almost two years ago. It’s just going to go up gradually during the bubble phase in stocks. Some smart money will flow into gold as it recognizes what is occurring in stocks. That smart money will gradually begin to prepare for the day the stock bubble bursts so a little at a time money will slowly flow into metals.

          It will be similar to the last bubble. Most of the liquidity flowed into real estate, but there was still plenty to drive stocks, gold and oil higher as well during the real estate bubble. When the bubble popped it all went into the commodity markets creating a massive inflationary spike that collapsed the economy.

  12. Nada

    No reason for the bulls to be sad. Hope this is the hunt for the DCL, so one can load the boat. It broke the 6 year bear market trendline, so a rinse of sentiment and counter-trend move should be completed in a few days. I will not short with real money but will use opportunity to position myself for the reconizition phase of the new bull market in gold. Exciting times.

  13. Gary Post author

    You never hear anyone talking about shorting bitcoin. The psychology is almost universally bullish. Traders are finding reasons to believe price can never go down. (absurd as there is no barrier to the market. Anyone can create a new crypto out of thin air). We will see the same thing in the stock market next year, and then in gold when it has its bubble.

    10-20 years from now we will look back and wonder how we could have been so stupid. We haven’t changed a bit since the middle ages and tulip bulbs.

    1. Pedestrian

      None the less Gary, this is a phenomenon that cannot be ignored so its deserves periodic attention (without alienating the die hard gold bugs on the site naturally). As Central Banks, governments, private interests and big US banks are all considering crypto’s or actively engaged in rolling out their own blockchain technology this is clearly an idea that has got a long life ahead of it.

      We are merely in the Wild West stage.

      Perhaps one day the various surviving CC’s will be consolidated under just a handful of platforms much like we have seen in every other industry known to man. For example, there was a time not so long ago when every community street had a small corner or hardware store but over time that model was wiped away as the bigger and bigger players entered and either bought them out or beat them into submission.

      Eventually we were left with just 7-11’s and fuel station shops while the Mom and Pop places withered and died. Same thing in beverages. Recall how many brands there were some years back but now the entire market is dominated by Coke and Pepsi.

      Whether airlines, retail clothing, pharmacies or trucking, all industry tends to consolidate into a few hands as time goes by and these Cryptos will be no different. What we are seeing now is not really that different than the Civil War era when every bank in the country was issuing its own private currency.

      Eventually those notes all went to dust but during the heyday a lot of money was minted and a lot of pockets filled by those who came to the money game early. Think about it that way and it all makes sense. Just know when to get the hell out ahead of the herd and for God’s sake don’t hoard the stuff because its inevitable that adoption of a few major CC blockchain’s hosted by the major financial players will cause people to lose interest in all these little upstarts.

      And then they will be gone again.

      1. Gary Post author

        I’m not saying they are going away. Real estate and tech didn’t go away when their bubbles popped.

        I’m just saying all the signs are there that bitcoin is in the vertical phase of a bubble. Don’t get carried away and think that this time is different and something fundamentally different is happening. The bitcoin bubble will collapse just like every other bubble in history.

        Just make sure you are out before it does.

      2. Pedestrian

        PS: This following comment is from Wikipedia;

        Private Bank Notes:
        In the United States, the Free Banking Era lasted between 1837 and 1866, when almost anyone could issue paper money. States, municipalities, private banks, railroad and construction companies, stores, restaurants, churches and individuals printed an estimated 8,000 different types of money by 1860.

        If an issuer went bankrupt, closed, left town, or otherwise went out of business the note would be worthless. Such organizations earned the nickname of “wildcat banks” for a reputation of unreliability; they were often situated in remote, unpopulated locales said to be inhabited more by wildcats than by people. The National Bank Act of 1863 ended the “wildcat bank” period.

        And that’s why I call this the Wild West of new currencies. They will eventually be brought to heel by failures, thefts like Mt Gox or other shady practices and the mantle will be handed off to institutions that people know and trust where there is stability, reliability and confidence. The speculative element could rage for a decade and we are in the midst of it now. But as we are already seeing fly-by-nights enter the field it won’t be long before we hear of huge losses and confidence in CC issues will then be shattered.

  14. Gary Post author

    I’ll have to see how the day ends, but gold has completed a swing high and it has gotten stretched above the 50 DMA. We’re starting to hear talk of to the moon and the train leaving the station again. This usually precedes a drop down into a daily cycle low.

    If we were in the baby bull phase, or the bubble phase then yes the train could be leaving the station. But gold isn’t in either one of those phases. It’s entering the middle phase.

    There are still plenty of traders expecting a return to the bear market, and most of the liquidity will flow into stocks. During this adolescent and maturing phase we should expect normal corrections into daily, intermediate, and yearly cycle lows. It’s way too early in the life of this new bull to expect big nonstop moves up. The only time we will see something like that would be towards the end of the intermediate cycle as traders become convinced the rally is for real. But as gold is only 6 weeks into its intermediate cycle that period is probably still 6-10 weeks away still

  15. Gary Post author

    The PPT has managed to ram the futures back above the 50 DMA in the premarket. That should bring in buyers and cement the DCL.

    1. Gary Post author

      Instead of posting these things after the fact, just enter the challenge and we’ll see if you make money.

        1. Christian

          It’s not really about the challenge Ex Nihilo (whatever that names means). Gary’s not happy because the dollar is showing strength, and he could end up losing a burrito bet he didn’t have the balls to place in the first place but claims to have known all along 🙂


  16. Goild

    Good morning,

    Have no bias, follow the candles, not your dreams.
    Let us make money today.
    Beware of the falling knife.
    Be careful holding JNUG long. Lately it is designed to get your money.
    Good trading to all.

  17. Goild

    I find top sirloin to be about as good as the Kobe.
    But the Kobe is about 3X-5X the top sirloin, and not 3X-5X tastier.
    What does you crystal ball say for the next swing trade?

  18. Goild

    With the geopolitical stuff going on one would not expect miners to take off.
    Gold may be profitable, though as peace should prevail gold may continue it precious trend to sink.

  19. Ed

    Bitcoin is not in bubble stage, a far from it.
    Not even close to it, not even 0.1% of world’s traders are involved.
    It has a long way to go before even you can utter “bubble.”
    Give another year or two.

  20. Ed

    Miners are going nowhere in hurry.
    In meantime, JNUG, JDST, NUGT DUST will reduce to ashes.
    Just concentrate on individual miners. GDX and GDXJ are for bank cartels.
    All ETFs are subject to PPT’s manipulations.
    Watch currency markets. Currency is the one that can’t maniplulated easily.

    Avoid all Mexico mines. With Trump, those mines are in peril. A good example would be all those Canadian Silver Miners in Mexico.

    1. Gary Post author

      I would argue that currencies are the most heavily manipulated markets on the planet.

  21. Ed

    Only if central banks are cooperate and coordinate each other.
    That cooperation can easily break down if it’s benefit for one country at expense of another country.

  22. Ed

    Also, it takes a whole lot of money to manipulate currency markets. Most currency traders are a lot smarter than average traders, they don’t get easily deceived as emotional PM investors.
    Even the war chest of ESF is not enough for a serious a prolonged currency manipulations.

    1. Gary Post author

      The vertical phase of the bubble.

      It’s 6 months into the vertical phase. They can last 6-8 months on average. We are in the danger zone. If you are playing this thing you have to pick a spot and say I’ve made enough. Get out and stay out so you don’t get caught in the crash.

      It’s extremely hard to do. Greed forces most people to stay too long and they get trapped in the crash.

      1. dboz

        I think BITCOIN is going to suffer a big crash shortly also. I do think it will be a good buying opportunity then though.

  23. Gary Post author

    I’m not sure gold has completely finished its daily cycle rally yet.

    I published a strategy in this mornings report.

  24. Goild

    10 round trip trades = +$403 bucks to pay for today expenses.
    I am not going to be greedy here away from my trading station and be happy to have money for tea.
    Good trading to all.

    1. JJHarmen

      Thanks for letting us know that you have made money again, like every other day. That is so helpful. Your insight and winning style is unmatched by anyone here or probably in the entire world. You are in a class of your own. Good trading to you tomorrow. I hope it doesn’t get too boring for you.

  25. Jimsee

    cyclic analysis stuff: gold lo today, sharp bounce tomorrow, if no new high, fall into friday…we see.

  26. Ed

    I am very bullish on gold and silver miners in intermediate and in long-term.
    Gold and silver are under tight control of Fed, ECB, BOJ, SNB, BOE. Always subject to midnight raids.
    Burned so many times. I just want to warn small gold retail investors who have a high expectations from this most government manipulated dangerous sector.

  27. Bigdaddy

    I thought we might see some better bargain prices for SLV and USLV so i could reload on silver but they are not selling off much. FB is pissing me off again. Did Trump tweet something bullish?

  28. Goild


    I agree, need to offer something else of value to the SMT blog. Will try.
    Good trading to all.

  29. ted

    I agree with others that the Bitcoin bubble is *far* from over. There are so few people in it. What I do find interesting is the other crypto’s are not participating in the same way. Which means that they are the best buys right now since they will follow suit or that Bitcoin is a trogan horse.

  30. butch

    After seeing the latest COT report on silver I have become bullish for the fist time this year. Bought Dec 19 dollar call options for 20% of bankroll.

  31. Don

    Dboz: You must be glad that you cashed in on TVIX when you did. Volatility index is way down this morning.

  32. Don

    Almost every stock market in the world is up big today with Argentina leading the pack, up over 3%. The PPT must be really busy today.

    1. dboz

      It’s about where I sold it at now. Missed the huge move that morning it really jumped. I would say it may be time to load back up now though. This is just a false sense of everything is back to normal.

  33. Sassybabe

    Does everyone think the stock market rally is going to take the S&P to new highs? It seems very strong today. And, why has gold not sold off much if war talk is dying down? It doesn’t make sense.

    1. Kruzoe

      Sass, the market does not care if it makes sense or not. Actually, why should the market makes sense? If everyone thinks the rally will take the S&P to new highs, then you should be wary. Ever heard of the contrarian approach?

      1. Gary Post author

        Sentiment on stocks is actually verging on depressed. Based on sentiment this could still go a long ways before the intermediate cycle tops.

    2. Pedestrian

      Sassy, gold has not sold off much yet because it is most likely in a topping process. Its rare for there to be a violent reversal immediately following a strong rise in price although it does happen in places like the VIX chart and some others.

      Take a look at this link of a daily gold chart and you will see what I mean.

      At each peak, count out the number of days that gold took to finish making a top before it started an outright decline. Each bar represents one single trading day. So the length of time it takes to make a top ranges anywhere from 2 to 6 days in this example but can go on longer if the pattern formation becomes a head and shoulders top or double-top.

      Typically you have several days to make a decision to enter a short position while you are watching the chart form itself. It’s why I wait once I think we have a price peak just to see what plays out first as it often does not pay to enter early should price surprise you and continue higher.

      Daily chart of gold: There are a dozen peaks on this chart. The time it takes to consolidate a top can vary as much as an entire trading week as the market digests what is happening and places their bets.

  34. Christian

    PEOPLE OF THE SHIRE, CHILL! GOLD pushed hard last week.. A minor pull-back is not abnormal. And I agree with Gary.. I’m not sure Gold/Miners have reached their cycle top just yet.

    Where’s that GDX Chart I posted a couple of days ago..?

  35. Bigdaddy

    No new highs Sassy. My gut feeling is that this horseshit rally will die out. Watch silver. I am itching to buy more silver if it goes a little lower.

    1. Pedestrian

      Yen/dollars hit a top at nearly perfect resistance on the daily chart. That is good evidence we are going to see a reversal in gold and by deduction a reversal in silver and platinum as stock markets rise again. Draw your lower channel line using the lows of May and July and then check the parallel line with the peaks of June and August on the chart linked below.

      In retrospect this should have been the obvious resistance line to be waiting for but I got ahead of myself a week too early predicting a gold decline before the time was ripe by using an incorrect channel support. It happens. Staying away from the trading desk for a couple months obviously turned me a little rusty!

      What is important to me now is to see if the Yen / $ chart attempts a double-top before turning down as predicted and more importantly if that double-top comes in as a right or left translated peak. If we get a lower peak then its a caution that we are still not ready for prime time.

      Yen/$ stopped almost precisely on the resistance channel so its probable we get a reversal in metals.

  36. Bigdaddy

    I just put a buy order in for 500 USLV at 12.48. I have to take the dog out for a walk and i will be doing some thinking so stay tuned for when i get back.

      1. Kruzoe

        Apparently, a female dog (bitch) takes less time walking than a male dog. May be BD should consider a female dog if he wishes to take a shorter walk.

  37. zkotpen


    “Where’s that GDX Chart I posted a couple of days ago..?”

    Thanks for the chart.

    Who cares if it got lost among the rest?

    Somebody saw it 😉

    1. Christian

      To be honest.. I’ve been playing the SM old turkey and haven’t looked at it in a while thx to Steve Sjuggerud.

      One thing is for sure, this is a “buy & hold” or “buy the dips” type of environment and I am properly diversified.

      Welcome to the MELT UP!

  38. JJHarmen

    Energy stocks are lagging. ERX is barely up. It’s starting to look like Gary’s call on energy is headed for the same fate as the one for the biotechs.

    1. Gary Post author


      Biotech is up 77% since the 7 YCL. I just choose to avoid the sector because I don’t trust the politicians in Washington.

      XLE will get overbought on the weekly charts. They always cycle from overbought to oversold. So it’s way too early to call that a losing trade especially since oil has completed its YCL.

      The place to focus right now is the stock market. I’ve been crystal clear. Most or all of ones money in stock trades. If you simply can’t resist playing metals or energy don’t use much of your portfolio.

      1. Pedestrian

        I agree Gary. LABU has been a great trade since you first mentioned it last year when it was selling near 20 dollars. The pattern is easy to read and consistent. It bounced today exactly as I was predicting but I think the fall could still carry it back to around 45 dollars where I want to buy again. Currently trading above 60 bucks. Thanks man!

        How the hell can anyone complain about that?

  39. ziasDad

    The problem with crypto currencies is that at this point in time they are an oxymoron. They are not currencies, but crypto speculative assets. They should be called crypto assets, not crypto currencies. What percentage of bitcoins actually get used for buying something versus the percentage that is traded on pure speculation? They may eventually become viable currencies but until their wild volatility settles down I don’t see that happening.

Comments are closed.