Advantages of BTC over Silver, Keeping Score
I am a silver bug.
But after thoroughly investigating Bitcoin I became a believer. I believe silver, gold and BTC are essential holdings in the face of fiat being counterfeited into oblivion. All fiat goes to zero.
Some have failed to make this leap. Peter Schiff never gave it a chance and he is wrong about BTC. But at least he sticks to his Libertarian principles.
Chris Duane has virtually lost his mind over it, losing all sense of humanity, going as far as to wish harm on hodlers by the governments he is supposed to hate.
In my opinion BTC has certain advantages to silver. This list is dedicated to Chris Duane. Again, I am a silver bug.
Limit of 21,000,000 on Bitcoin. Advantage over silver, which can be mined. BTC 1 - ag 0.
You never know what the purity of your silver is. With Bitcoin there is never a doubt. BTC 2 - ag 0.
Ease of transfer over international borders. BTC 3 - ag 0.
Cost of vault. Silver, huge. Bitcoin, nearly free. BTC 4 - ag 0
Cost of security. Silver, huge. Bitcoin, nearly free. BTC 5 - ag 0
Likelihood of government confiscation. Silver, big. Bitcoin, unconfiscatable. BTC 6 - ag 0.
Likelihood of tarnishing. Silver, yes. Bitcoin, none. BTC 7 - ag 0.
Likelihood of invading army confiscating. Silver, huge. Bitcoin, none. BTC 8 - ag 0.
Likelihood of mass internet adoption for commerce. Silver, none. Bitcoin, huge. BTC 9 - ag 0.
Likelihood of manipulation on comex. Silver, proven. Bitcoin, none. BTC 10 - ag 0.
Likelihood of immediate settlement of international trade. Silver, slim. Bitcoin, huge. BTC 11 - ag 0.
Likelihood of national reserve currency. Silver, slim. Bitcoin, obvious. BTC 12 - ag 0.
Better way to carry $1,000,000 in your pocket. Silver, fail. Bitcoin, hell yeah. BTC 13 - ag 0.
Can you drop a Bitcoin into your champagne for antibiotic treatment? No. BTC 13 - ag 1.
Will overconsumption of Bitcoin turn you purple? No. BTC 14 - ag 1.
My final score, BTC 14, Ag 1.
What advantages do you think BTC has over silver?
Off the Deep End
I just have one thing to say about cryptocurrencies that REALLY scares the hell out of me:
Did you know that the U.S. National Security Agency put out its' first Whitepaper on BitCoin/Cryptos way back in 1996 ??? They were mentioning things like, "decentralization," "new monetary system," and, "digital gold" about 13 years before anyone else had even conceived of such things. Is it just a strange coincidence that BitCoin came onto the world scene directly after the 2008 U.S. money crisis???
Just sit and think on that for a while...
Now, think about all of the wonderful woo-woo feelings that have grown inside of you from words like, "decentralization," "freedom," "outside the system," "the peoples' money," etc...
Could it be possible that you are being led down a path of making a lot of profits today, but you'll find out - in a few years - that somebody else has actually taken complete control of every aspect of your cryptocurrencies? Because, they'll know exactly where to track your wealth (in the blockchain), exactly how much to tax every single bit of your earnings, and have the ability to completely shut you out of their monetary system if you don't continue to play by their increasingly draconian rules???
On the other hand, you can go bury your silver and gold under a rock in the desert, or use it to buy a house - all the while keeping it totally out of anyone elses' control.
Also, if you've got too much silver - you can always wait for the Silver-to-Gold raitio to go from 85:1 back down to 43:1, double your wealth, and shrink your precious metals' physical mass by a factor of 43.
BTC: -10
SLVR: +20
This topic deserves its own post, thanks and stay tuned.
@cryptocleanse some really great points that is why I like Silver and Bitcoin.......
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.