In a blog post titled «The dark side
of the digital gold rush», researchers Nick Biasini, Edmund Brumaghin, Warren Mercer and Josh Reynolds — with contributions from Azim Khodijbaev and David Liebenberg — said that over the last few months they had observed a notable increase in the amount of cryptocurrency mining software being delivered by malicious means.
There's another side of the virtual coin in this discussion — that Bitcoin doesn't need to be an everyday currency, but rather serve as the store of value in the representative
form of digital gold.
Snapchat, which has nearly 160 million daily active users, makes money selling ads — the same
stash of digital gold that's gobbled up in bulk now by Google and Facebook.
Addressing bitcoin's merits in and of itself, he acknowledged the appeal of a decentralized asset or a
kind of digital gold, commenting: «I dig it.»
The Perth Mint's
release of digital gold certificates for trading, holding and transferring physical gold could have profound consequences for the $ US98 billion ($ 122.5 billion) in gold - backed exchange traded funds.
As the value of Ethereum and other cryptocurrencies skyrockets, fraudsters are developing new blockchain exploits and mining schemes to get their
cut of the digital gold rush.
And, along the way the company has spun out such a confusing
tale of digital gold and of merged and divested operations that its shares have gone through the roof.
Bitcoin left the path of being a functional currency and, with the help of its democratically empowered community, took on the
mantle of digital gold.
Amid the wild Bitcoin ride that's wiped more than 40 percent off the cryptocurrency's price in a month, a pattern may be emerging: sellers are switching
out of digital gold and into the real thing.
It appears to be the reserve currency of the digital currency space — a
sort of digital gold if you will.»
In the book «A History of Digital Currency in the United States: New Technology in an Unregulated Market» (2016), the
publisher of Digital Gold magazine, P. Carl Mullan, quoted Jackson as saying that such a «task required large - scale computational capacity, data storage and secure global means of communication.»
DAO stands for Democratic (or Decentralised) Autonomous Organisation, which in this case aims at the
building of a digital gold standard economy.
When I try to think of valuation, bitcoin really has taken the use
case of digital gold,» he said, estimating that bitcoin would need to increase another 30 to 50 times to reach parity with gold capitalization.»
MNT will allow funds to be raised for Custody Bot, which is an automated safe - type device that allows for assessment, storage and
transmission of digital gold through the use of Blockchain technology.
Meanwhile, another takeaway has been put forth by Nathaniel Popper,
author of Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money.
«Bitcoin is yet again acting as a
form of digital gold and correlating strongly with the commodity — when there is uncertainty safe haven assets see a boost,» wrote Hayter in an e-mail to CNBC.
«I think it will be
more of the digital gold that's programmable, and I think there will be currencies that survive more for P2P payments, more for financial engineering, [and other specific use cases].»