Is bitcoin a better hedge, freer from government market rigging than gold?

Section:

8:23a ET Sunday, March 31, 2013

Dear Friend of GATA and Gold:

Is bitcoin a better hedge against currency devaluation than gold is because its issuance is tightly regulated and the market for it is less vulnerable to manipulation by government?

Some of gold's friends seem to be starting to think so, like Trace Mayer, proprietor of RunToGold.com, who has written about bitcoin and GATA in the new issue of Bitcoin magazine --

http://www.amazon.com/Bitcoin-Magazine-Issue-February-2013/dp/1622096703...

http://bitcoinmagazine.com/

-- and last week was interviewed about the digital currency on the BBC Newsnight television program --

http://bitcoinmagazine.com/bbc-newsnight-bitcoin-segment-daniel-knowles-...

-- and on the Financial Survival Network's Internet site:

http://financialsurvivalnetwork.com/2013/03/trace-mayer-kenton-ralph-toe...

Meanwhile, writing for Bloomberg BusinessWeek, computer programmer Paul Ford isn't sure whether bitcoin is the currency of the future or a joke, but concludes that, for the moment, anyway, it works as a currency that requires no trust in government. Ford's commentary is headlined "Bitcoin May Be the Global Economy's Last Safe Haven" and it's posted here:

http://www.businessweek.com/articles/2013-03-28/bitcoin-may-be-the-globa...

Of course if bitcoin continues to succeed, government isn't likely to leave it alone in a free market for long. While GATA's hands are more than full, maybe soon there will be a need for a Bitcoin Anti-Trust Action Committee as well.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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