You are viewing a single comment's thread from:

RE: Gold vs Bitcoin: Which is the Future?

in #bitcoin5 years ago (edited)

I will always prefer a few gold coins in my pocket over a thumb-drive with a BitCoin.

First off, if I want to keep my hard-earned wealth out of the banking system and anonymous, gold bullion is much better for keeping yourself completely anonymous - as opposed to having your address made a part of a permanent, non-changable blockchain ledger. There are people and governments who can and do track down large players in the BTC blockchain - which leaves the possibility open for governments to track down and tax the hell out of everybody on the blockchain in the future.

Your arguments against inflation/limits on cryptos are completely absurd. There are how many BTC forks in existence??? Bit-Coin Core, Bit-Coin Cash, Bit-Coin Diamond, Bit-Coin Gold, etc... and so on, and so on. There is no rational argument against the fact that both past and future BTC hard-forks have taken a serious toll on the current value of BTC, and that they will continue to decrease its' value in the future. This isn't "inflation," it's more like quantitative easing - which evaporates the value of BTC as a currency. Unless BTC becomes "hard-fork proof" at some point in the future, its' value will continue to be massively inflated away in the coming years. Gold can not be created or "hard-forked" into existence.

Treasure hunters are still looking for sunken gold on the bottom of the ocean, which is a very corrossive environment. Gold does not corrode over time, nor is there any chemical or mechanical process by which anyone has yet figured out how to molecularly alter gold to combine it with another element - so it is, and always will be "pure," and able to be purified out of any other element it gets mechanically mixed with. Digital media usually lasts for about 10 years, or so.

Gold retains its' value within every country across the world. BitCoin requires a certain presence of infrastructure to be accessed, otherwise it is totally useless - and it's not yet generally accepted by the majority of merchants. If it is accepted, prepare to wait for your transaction to clear... 1/2 hour? 1 hour? 2 hours??? Many other cryptos have a much better use-case for both a store of value AND quick transactions. (Lite-Coin comes to mind.)

It's true that both Precious Metals and cryptos have their uses, but anybody who would choose a digital asset over a real, physical asset is simply not well enough educated in the real worlds' "school of hard knocks" to be giving out any kind of financial advice when it comes to dealing with monetary or geo-political crises.

Coin Marketplace

STEEM 0.29
TRX 0.12
JST 0.034
BTC 63212.56
ETH 3233.70
USDT 1.00
SBD 3.88