The news about Bitcoin has not been kind as the real state of Crypto coins revels itself. All these new Bitcoin billionaires are painting a bulls eye on their faces when they openly brag about their wealth they think they have. Bitcoin has been going sideways, and it still can swing in both directions before it decides on a new trend, or to finish an old trend.
Either way it doesn’t look like Bitcoin is going to go “Vertical” any time soon due to the fact that major groups are stealing Bitcoins by hacking, or now home invasions. From my perspective, this Crypto market is the Wild West, where there is no town marshal. Nobody is responsible for what they do so 100’s of millions USD valued Bitcoins have already gone missing, and many more will still disappear.
I visited my bullion dealer who was very open about the fact that gold owners were coming in and dumping their gold holdings to buy Bitcoins. Dumping gold to buy Bitcoins is like chasing Fool’s Gold thinking its real gold.
There are many fake physical Bitcoins being stamped and sold on the open market as my bullion dealer showed me one. I had to have one, so I ordered 6 fake Bitcoin rounds online, which I will use to see the reactions on peoples faces. These fake Bitcoins have a 99.999% pure gold plating on it and I will find someone to get it tested once I take physical possession of the Bitcoins.
This may not happen for several more weeks, but my gut feeling is that I should have ordered twice as many. I think people love them as novelty items and I want to show them to people before I think about ordering more. My landed cost for a single fake Bitcoin will be about $4 CAD.