Is Bitcoin the new gold?
Some former gold bugs certainly think so.
And it’s value has skyrocketed in recent months.
Last week, Bloomberg.com columnist Paul Ford opined they could now be the world’s last currency safe haven.
But many readers at this point are probably wondering…what exactly is Bitcoin?
Robert McNally, an iOS developer at parking payment startup QuickPay, presented the following presentation to last year’s Hacker’s Conference (don’t worry, they were the “good” kind of hackers) in Santa Cruz answering exactly that question.
With his kind permission, he’s allowed us to republish it.
Does this look familiar? Plotted over millennia, it represents the arc of known gold stocks. Plotted over decades, it's also, in theory, true for Bitcoin.
So who's actually accepting Bitcoins? When they first came on the scene, pretty much only programmers or gamers were.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.