The Case of Gold vs Bitcoin

The total value of all bitcoin based on 21 Million limit of bitcoin is about 200 Billion , we already have mined 17 Million , only 4 Million left to go . Meanwhile the total value of gold above ground is around 7 Trillion. But the total value of fiat is some vast number over that probably 100-500 trillion, maybe a quadrillion including derivatives, who knows...., there's no decentralized ledger. In other words a mania like tulip bulbs which busted in weeks, the time it took to ride a horse from Amsterdam to London... Gold instead has a pretty long track record of being accepted as a store of value. It is still possible to find more of it underground, but it isn't easy. Hence, diluting the current gold supply requires a lot of resource and investment. That , limits the amount of dilution that is likely to occur, with the possible exception of counterfeiting. It wasn't that long ago when it took 10 bitcoins to buy an ounce of gold. Now, 6 years later, it takes 10 ounces of gold to buy 1 bitcoin. What fool would give up 10 ounces of physical gold for one electronic bitcoin? , I would rather use the bitcoin as a vehicle to get 10 ounces of physical gold Bitcoin, is a bit of a farce. It is hailed as an untraceable form of payment, but yet it's existence relies on the existence of a data chain that lists every transaction ever made. That would seem to be some pretty serious false advertising. Add to that, the fact that I don't trust the "creators" of bitcoin, or any other crypto, to not create more of it, when the time suits them. And of course it can be done.The Dilution of crypto seems as inevitable as debasement of any other form of fiat. Some will say that untraceable currency is a haven for criminals. I say that fully traceable currency (blockchain) is a haven for criminals in high places who want to monitor the spending habits of the masses in order to determine who they can steal the most from. Knowing where the money is, can be the first step in stealing it. A currency that is fully traced and scalable at will is a wet dream for the self anointed producers & controllers of "money". It is not such a good thing for people who want to make transactions. The creators of the currency can print their wealth at will and enslave those who work to get paid in that currency. It's very much a one sided deal. Thomas Jefferson is credited as saying "I would not be a master, as I would not be a slave". I take the same approach to currency. I favor a medium that is not easy to debase for the benefit of a limited number of anointed entities, at the expense of those who actually produce things of value & provide useful services. Also, when the power grid goes down, physical currency still works. Crypto, not so much. Some people have made a lot of money trading in crypto. Then again, some people made a lot of money off of a handful of tulip bulbs, back during a certain well documented buying frenzy in that market. You should not be speculating in things of that nature, relying on continuing to find a greater fool. You should see value and security in holding gold and silver. I see risk in holding crypto. Another Problem is that there is a new crypto coming out every other day. Facebook has one coming out so it is man made , How can it be rare and of value, when it can be created by man at will . On the other hand , there is only one gold when its all mined that's it. You can't keep making it. Conclusion: Right now, there are more than 2,500 recognized cryptos out there and their number is constantly increasing. 2,500 and counting. Still, not all of them are actually used by a large number of people. In fact, most of them have been flying under the radar of most crypto enthusiasts. Matter of fact , 99.9% of the world has no clue what bitcoin is or uses it. Another human made scam. When it all goes to crypto's your freedoms will be gone. If Hong Kong had all crypto at this time it would be so easy to clear the streets of protesters just shut down the internet or power and they would be running back to work when they can't buy food. In reality with bitcoin you are basically at the mercy of the power companies. They can liquidate you in minutes. a blackout and the magic is gone. It is difficult to put a value on bitcoin, from a scarcity point of view a bitcoin value should be between 0 and infinity? Who Which system is gonna define its true value when already nowadays all values are monitored by rigged markets ,What a joke. Stored physical gold can be shown and transferred as collateral from place to place, but bitcoins ? There is something OK and something weird with bitcoin ( not to speak about all other e-coins. ) Our Fiat is nowadays also a kind of e-money, but it is easier to understand and can up to now still be had under a physical form be it a paper with numbers on. Something could not get me hot for bitcoins and even less for other e-coins. To me they have a Pokemon, candy or matchbox collecting taste, not full-grown. While Central Banks and billionaires are buying gold or have gold in their possession to protect their wealth the Real Money. They give the sheeple fiat to play with. At the end of the day they still have the real wealth in their possession. Reserve Bank of India has already joined its peers to buy gold insurance as US-China trade war escalates . So far, China and Russia are the most aggressive buyers, but Reserve Bank of India (RBI) is now the 10th largest gold reserve holder in the world, as of June, according to IMF . In a gold economy, which corporate could afford to pay the million dollar salaries to CEO and superstars? All superstars and high flyers will empty worldwide gold vault within a month. Both crypto and fiat in digital could create at will. Gold you cannot.










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