Richardcyoung.com

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin & Alfie Oakes
  • World Gold Mine Production
  • Fidelity & Wellington Since 1971
  • Hillsdale College
  • Babson College
  • Contact Us

Bitcoin Unreliable?

February 20, 2014 By Debbie Young

Talking with NPR, Campbell Harvey, a financial economist at Duke University, contends that Bitcoin is 10 times more volatile than the changes in the price of gold and 20 times more volatile than holding U.S. dollars.

But just as the fluctuation can take you from rags to riches, bitcoin transactions can also go downhill for merchants. The value of the digital currency fell in the first week of February from a steady $850 to $700, according to CoinDesk, which tracks current bitcoin prices. Currently, the value hovers around the low- to mid-$600s.

“As a store of value, Bitcoin is very unreliable today,” [Campbell] Harvey says. “It is 10 times more volatile than the changes in the price of gold. It is 20 times more volatile than holding U.S. dollars.”

That’s why some food merchants, like [Giuseppe] Lanzone and his brother, Mario, have opted to cash in their bitcoins right after they make a sale.

The future of the 5-year-old bitcoin is still uncertain. Millions of dollars’ worth of bitcoins were seized from the infamous bust of Silk Road, a shadowy illicit online marketplace, and bitcoin prices have taken a nosedive in the past months. Just last week, a glitch in Mt. Gox, the leading bitcoin exchange site, made prices drop once again.

 

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Related Posts

  • Bitcoin Plunges!
  • Bitcoin Worth $524,000?
  • Browning Shotgun
  • Author
  • Recent Posts
Debbie Young
Debbie Young
Debbie, our chief political writer of Richardcyoung.com, is also our chief domestic affairs writer, a contributing writer on Eastern Europe and Paris and Burgundy, France. She has been associate editor of Dick Young’s investment strategy reports for over five decades. Debbie lives in Key West, Florida, and Newport, Rhode Island, and travels extensively in Paris and Burgundy, France, cooking on her AGA Cooker, driving through Vermont and Maine, and practicing yoga. Debbie has completed the 200-hour Krama Yoga teacher training program taught by Master Instructor Ruslan Kleytman. Debbie is a strong supporting member of the NRA.
Debbie Young
Latest posts by Debbie Young (see all)
  • People Are on Edge - June 13, 2025
  • “Mostly Peaceful” Protests - June 12, 2025
  • The Problem with Violence Is Violence - June 11, 2025

Dick Young’s Must Reads

  • The Federal Reserve is “Almost Everything” that Threatens America
  • Defining the Uniparty
  • The Masters of the Universe Align Themselves with CHINA Using YOUR Money?
  • “The Losses are Taking a Toll on Their Health”
  • “I’m Having Major Surgery Tomorrow,” He Said
  • BEYOND RUSSIA: America Strengthens India Ties to Counter China
  • Your Sheriff Can Thwart Federal Gun Control Efforts
  • Rich States, Poor States this State is Dominant Once Again
  • Remembering Brent Scowcroft
  • I Meant to Tell You My Recent “Survival Guy” Story

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • Epic Man Cave with Car Elevator in Utah
  • Oil Prices Spike as Markets Brace for Potential Middle East Conflict
  • Is Private Capital Appropriate for 401(k)s?
  • US Underground Natural Gas Storage Capacity Grew in 2024
  • Trump Revokes Biden Policy on Snake River Dams
  • Graduating from Work to Retirement Special Bonus: God Only Knows
  • US Secures LNG Export Deals Worth $200 Billion
  • High-Voltage Cable Crunch Hits Global Electrification
  • May PPI Lower than Expected
  • Graduating from Work to Retirement #20: Life in Reverse

RSS Yoursurvivalguy.com

  • Epic Man Cave with Car Elevator in Utah
  • Is Private Capital Appropriate for 401(k)s?
  • Strikes Expose Israel’s Hidden Drone Operations Inside Iran
  • Even If You Don’t Golf: Part 2
  • Graduating from Work to Retirement Special Bonus: God Only Knows
  • Private Equity: Moody’s Warns There’s Ample Cause for Concern
  • Your Survival Guy: Castle Hill, Newport
  • Containerized Missiles and the New Rules of War
  • Graduating from Work to Retirement #20: Life in Reverse
  • America’s Silent Army with 423M Guns

US Treasury Yield Curve: My Favorite Investor Tool

My Key West Garden Office

Your Retirement Life: Traveling the Efficient Frontier

Live a Long Life

Your Survival Guy’s Mt. Rushmore of Investing Legends

“Then One Day the Grandfather was Gone”

Copyright © 2025 | Terms & Conditions | About Us | Dick Young | Archives