Diamond News Archives
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Bitcoin has long been heralded as digital gold.
Q3 2019 hedge fund letters, conferences and more[3]
“This is like better gold than gold,” said Gavin Andresen, who became lead engineer on Bitcoin after Satoshi Nakamoto, the pseudonymous founder of Bitcoin, handed over the reins.
Hal Finney, the first person to receive a bitcoin transaction, which was sent by Satoshi Nakamoto, compared bitcoin to gold, too.
“I see Bitcoin as ultimately becoming a reserve currency for banks, playing much the same role as gold did in the early days of banking,” Finney wrote on BitcoinTalk, the forum created by Nakamoto to discuss Bitcoin. “Banks could issue digital cash with greater anonymity and lighter weight, more efficient transactions.”
Gold versus bitcoin debate
Billionaire investor Peter Thiel, who said in 2018 he would bet[4] on Bitcoin over all other cryptocurrencies, sees Bitcoin as a store of value, too. “I’m not talking about a new payments system,” Thiel said, adding that bitcoin is too cumbersome for that use case. “It’s like bars of gold in a vault that never move, and it’s a sort of hedge of sorts against the whole world going falling apart.”
Yet, if you spend time on Crypto Twitter, you’ve perhaps seen the contempt Bitcoiners hold for goldbugs...and vice versa.
“Bitcoin bugs claim that Bitcoin is superior to gold as a store of value,” as Euro Pacific Capital CEO Peter Schiff highlights. He and other gold bugs feel the same way about gold versus Bitcoin.
Schiff and Anthony Pompliano, a staunch proponent of Bitcoin and co-founder & Partner...
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As tensions rise in the Middle East, Moody's warned on Monday that any sustained clashes could have global economic repercussions.
"A lasting conflict would have wide-ranging implications through broad economic and financial shock that significantly worsen operating and financing conditions," Moody's senior analyst Alexander Perjessy wrote in a note to clients Monday.
"A protracted conflict would potentially have global repercussions, in particular through its effect on oil prices," he added.
Following Thursday's death of top Iranian commander Qasem Soleimani[1], on Sunday an Iranian state-run television broadcast said that the nation would no longer respect uranium enrichment restrictions[2] set forth in 2015's nuclear deal. Also on Sunday, the Iraqi parliament passed a resolution calling for an expulsion of foreign troops[3], which raises question about the future of the allied mission that has successfully fought the "Islamic State," or ISIS, in recent years.
Perjessy said that the effects of ongoing tensions would hit the broader economy — not just the oil and banking sectors — as things like tourism in the Middle East, for instance, would be impacted. He also noted that "increased risk aversion" would be negative for issuers, particularly those with "large external financing needs" and "relatively smaller or insufficient reserves."
Since Thursday's airstrike safe haven assets like gold and bonds have rallied, and oil prices have surged[4] to multi-month highs.
On Monday international benchmark Brent crude[5] hit a session high of $70.74 — its highest since September 16 — while U.S. West Texas Intermediate[6] climbed to $64.72, its highest since April.
Perjessy said that for oil producers in the Middle East higher prices "could mitigate some of the credit-negative...
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(IDEX Online) - IDEX Online has launched the 2020 edition of its annual trade fair and guide.
The guide provides details regarding a wide range of trade fairs taking place throughout the year.
It also provides information relating to De Beers' Sight dates in 2020.
Click here[1] to see the 2020 issue of the Trade Fair Guide....
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(IDEX Online) - Diamond tender house Bonas will hold a gemstone tender viewing at the February Bangkok Gems & Jewellery Fair (BGJF) from February 25-27. The tender will feature 500 lots of colored gemstones.
The lots will also be available for viewing in Hong Kong from March 1-4.
Items on offer in the tender which is being organized with the support of the Asia Gem Center in Bangkok, include certified and uncertified, heated and unheated rubies, sapphires and Paraiba tourmaline.
Highlights include a 14.33-carat oval Burmese sapphire; a 4.01-carat ruby from Mozambique (pictured) and a 23.74-carat oval-shaped padparadscha from Sri Lanka.
The online sale will close on March 5....