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RE: Are Cryptocurrencies Really a Threat To The US Dollar? By Gregory Mannarino

in #bitcoin8 years ago

Cryptocurrency will trump any gold back government issued currency. Would anyone trust any government that claims they will back their currency with actual gold if they don't allow people to redeem their paper for the physical metal? The problem with gold and silver are that their markets are heavily manipulated. People won't ever trust this kind of market. Gold and silver will survive as stores of value outside of the system only to dodge taxes. Goldmoney will increase in popularity, but people will be sick that the value of their gold remains heavily manipulated to the downside and will be left wondering: when will this increase relative to the amount of paper actually printed? Because of this, they will pour into cryptos when the next crisis happens. Crypto will survive with tiers: premium coins for people that got in very early, mid grade coins, and low tier coins for very late market entrants.