Bitcoin is in direct competition with silver and gold as a store of wealth.
It's a limited supply asset which is designed to go up in value.
Any doubts cast on it by someone who 'appears' to have invested lots of their time and effort in gold/silver (judging by their videos on YouTube) does not surprise me in the least.
That's not to say that gold and silver don't have their place.
A huge advantage of digital crypto currency is its convenience over physical money...much better carrying a pin protected hardware wallet than having to lug around a sackful of gold or silver coins.
You could argue that if there was no internet how are you going to pay for anything, maybe gold/silver coins will come into their own in that circumstance so they could be seen as a hedge.
Some might argue however that if we're ever in a situation where there is no internet, we're all dead anyway :-)
When you look at how we destroy everything that mite be a good thing :) using the crypto increases to up your physical stack once you have your initial funds covered is the way to go. I am just at the stage of getting some cryptos now my stack is quite healthy and safely stored off site :)
I think Bitcoin is rather building up trust and transferring this (because having utility value and with a huge speculation aspect involved) to the Internet than acting as a safehaven. Too much speculation in order to be a true safehaven now. That would require a much larger user base and even with exponential growth figures, that would still take a couple of years.
Having said so, the genuine chance of a true 'Bitcoinization' is too good to pass by. It could be the investment choice of a century. Shpuld be in the portfolio of every Gold bug.
Bitcoin is in direct competition with silver and gold as a store of wealth.
It's a limited supply asset which is designed to go up in value.
Any doubts cast on it by someone who 'appears' to have invested lots of their time and effort in gold/silver (judging by their videos on YouTube) does not surprise me in the least.
Nice rebut, yer im still making my mind up and all info is good thank you,
That's not to say that gold and silver don't have their place.
A huge advantage of digital crypto currency is its convenience over physical money...much better carrying a pin protected hardware wallet than having to lug around a sackful of gold or silver coins.
You could argue that if there was no internet how are you going to pay for anything, maybe gold/silver coins will come into their own in that circumstance so they could be seen as a hedge.
Some might argue however that if we're ever in a situation where there is no internet, we're all dead anyway :-)
When you look at how we destroy everything that mite be a good thing :) using the crypto increases to up your physical stack once you have your initial funds covered is the way to go. I am just at the stage of getting some cryptos now my stack is quite healthy and safely stored off site :)
I think Bitcoin is rather building up trust and transferring this (because having utility value and with a huge speculation aspect involved) to the Internet than acting as a safehaven. Too much speculation in order to be a true safehaven now. That would require a much larger user base and even with exponential growth figures, that would still take a couple of years.
Having said so, the genuine chance of a true 'Bitcoinization' is too good to pass by. It could be the investment choice of a century. Shpuld be in the portfolio of every Gold bug.