The 21st Century Gold Standard: Bitcoin!

Via Nasdaq

Gold and silver have been in a bear market for the past two years, but a private alternative currency is all the rage and has tripled in value this year! Bitcoin is a private digital currency, created in 2009, which now has a monetary base of $1 billion. It is in many ways like a gold standard with limited supply and no central bank or government control. But, unlike the gold standard, there are no storage fees. The supply of Bitcoins is strictly limited by the owners who can only create more by solving complex mathematical problems that grow more difficult over time. In other words, real resources are used to make more Bitcoins.

As you can see from the chart below, the price of Bitcoins has skyrocketed this year -- it is seen as a private alternative to government money, or even gold, in a time of crisis (such as the Cyprus debacle).