Are Bitcoin and other Cryptocurrencies the new Quantitative Easing?

Are Bitcoin and other Cryptocurrencies the new Quantitative Easing? By Ivan Lo.

How can [the world’s central banks] stimulate the global economy without adding more to the already ballooned balance sheets?

Simple: With new currencies controlled by no one…cryptocurrencies!

Bitcoin itself has already added over $120 billion in free money without affecting a single balance sheet.

Could that be the reason why governments around the world have allowed cryptocurrencies to exist? …

Cryptocurrencies are created out of thin air, just like paper currencies. But who started it?

No one knows who created Bitcoin. Right now, the creator of Bitcoin has been dubbed Satoshi Nakamoto.

Last year, Australian entrepreneur Craig Wright told the world he’s the inventor of the Bitcoin. Of course, we already know that’s not true.

So who really created Bitcoin?

Remember, money/currency is the most highly regulated industry and the creation of digital currency is technically illegal in most parts of the world – especially the United States.

How does a digital currency created by no one grow to achieve a $126 billion in liquid value? …

Bitcoin is digital gold, sort of:

The biggest difference between Bitcoin (and other cryptocurrencies) and gold is that you can spend Bitcoin using a smartphone instead of having to deliver physical gold.

You can literally send a Bitcoin from the US to Hong Kong in less than a second.

You just couldn’t do that with gold.

Actually you can sort of do that with gold, with a new startup called SendGold.