Gold, Silver, Platinum etc, have intrinsic value not only for their applications, but also for their extraction cost - and this, in turn, can be considered as an energy cost. If you need 1000$ in energy (diesel) to extract an ounce of gold, then you can't sell it at 999$. PMs therefore are backed by something - it's not snake oil.

Technology improvement is both in favor and against BTC. For PMs are steady in time, while technologies come and go, tomorrow something better might be in place of the BTC - so in this sense, an inherent uncertainty exists. Not to mention advancements in fields like quantum computing and how they might have an effect in crypto transactions and whether cryptocurrencies can cope by implementing quantum-resistant algorithms that can also scale.

Every single form of money has uncertainties.

Fiat money is too dependent on government and fiscal policies, even international events or global catastrophes. The debt-backed scheme also can't work without inflating the money supply forever, and the effects of compound interest, in the long run, mean that money loses its worth. So, in all its uncertainties, fiat has the certainty of an inflating money supply.

PMs have uncertainties, as I see it, in the sense of sudden mining technology advances, new massive deposit exploration and exploitation, and government intereference (banning of gold trade, confiscations, taxing etc). And in the short term you always have to face the price suppression scheme that is there to ensure people don't lose their faith in fiat in favor of PMs.

Bitcoin has uncertainties in the form of better technologies in the future, scaling and bloating attacks by determined attackers*, government hacking the money supply due to hardware devices spying on every single one of us, quantum computers that can render its cryptographic defense weaker, governmental and legislative blocks etc, government having the capability with own hardware or hacking in pools to perform 51% attacks, etc.

For me, the moto is anything but fiat. Fiat is only a tool to buy PMs and crypto when the price of PMs and crypto is suppressed.


* The price to bloat the blockchain to unusable levels is in the range of millions of dollars - which in turn makes it an easy target for "old money" systems - if they ever desired to attack BTC. Same with transaction costs. The "old money" elite has been paying billions of fiat to keep the price of PMs suppressed, and this is also something that BTC might also face in the future.

Gold has not much intrinsic value , only as jewelry.

Gold as an investment object, has "investment value", which is separate from it's intrinsic value, and its definitely overhyped.

We cannot have an analog currency in a digital age. We could use gold for jewelry and to show off your wealth, but it won't be a mainstream instrument ever.

Even in the middle ages ,most folks used silver coins or some mixed copper coins that offiicially were issued by the kingdom's mint.

It's hard to believe that gold will become mainstream usage, especially as we go more and more digital in our everyday life (smart TV, smart Phone, Internet of things, flying cars, mentally controlled artificial limbs for disabled people?)

Gold will be only an overhyped instrument for gold bugs, and for central banks storage (who obviously dont know anything about the economy, otherwise wouldn't ruin it)

Opportunists already know this. Gold is a sinking ship on the long term.

@ RealBitcoin, wrong again -




What people spend on gold teeth is worth more than the total market cap of bitcoin lol

A pump and dump that has occurred since the dawn of mankind then because thats how long gold has been idolized  lol

Why the price of bitcoin - if mining costs are irrelevant then?


Also sound like the "what have the romans ever done for us" speach from monty python

Most people will only use bitcoin to make cheap online transfers and there are multiple alternatives.

The only reason so many people here buy bitcoin because they have the belief it will go "to the moon" when the rest of the world jumps in and it becomes mainstream.

I think more people treat bitcoin as a commodity than a currency, the HODL squad that wont sell come hell or high water until it reaches $10k a bitcoin + the speculation forum here etc.

How many hours do people here stare at the bitcoin/currency charts - bet they dont do that with the cash in their pocket.

Spending BTC as an alternative to cash is still a novelty rather a day to day occurrence for most people

I think your idea of diversifying investments is very good but bitcoin as a investment for next 10 years selection is not correct. Just in last couple of years it went from few dollars to 1000+ and came back to 200+. If it can fluctuate so much then it is not a good investment for long term instead you can put some money and monitor every day to take some profit. The better long term investments may be like stocks, bonds, real estate and gold.

yes this is correct way if somebody's going to invest in gold rather than bitcoin , gold also have some other advantages like in case if you need money but don't want to lose your gold, you could put it in a pawnshop and later pay the interest after you have money

You have to understand that there are economies where the national currency is devalued at a rate that makes gold a much better prospect than holding the national currency for the long-term. India has a tradition of gold-buying and, not only that, but they actually consider gold as money and fiat as something useless to be dumped to get gold.

Some western economies with strong currencies do not see the issue of gold in the same light, but, then again, western economies are not suffering from rampant inflation or rampant currency devaluation etc.

In the end of the day, gold is priced by fiat. And if fiat money supply is increasing rapidly, then the ratio of fiat supply:gold supply favors an increase in the price of gold. So it's not a foregone conclusion that gold is a sinking ship etc etc. In fact, maths point to the exact opposite happening as fiat supplies increase.

The fact that gold/silver prices are suppressed by virtual supply, is one more element we have to consider. If one man can make a campaign like "crash jp morgan, buy silver" and take silver from <10$ to 50$ for the lolz, then that doesn't really provide much confidence for the fiat scam.