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RE: Why Precious Metals Are Better Than Bitcoin (in some respects)
Nothing can ever replace physical gold and silver (and other PMs). Simply because they cannot disappear. No matter what happens.
But dont think certificates, ETFs and such are gold and silver. They are only a promise on a piece of paper, just like paper money - or cryptos.
What worries me on cryptos lately is that there are more and more new ones being created, basically competing with each other. That is not a sustainable system, in the long run.
I agree. What's more is that many of the competing cryptos, if they existed by themselves, would be deflationary. But the plethora of different options actually dilutes their values.
At the moment crypto is booming because there is more money trying to flee from the fiat currencies - and in particular the US$ - than new crypto is being created. But they cannot do this forever. Its basically the same what the central banks are doing, creating more and more money out of the blue. This leads to inflation, sooner or later.
Did you see the US$ fall again today? This is going on for 6 weeks already. If it continues, we are in for some interesting developements. Also regarding PMs.