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RE: Gold or Bitcoin, What Would You Choose as Money?

in #bitcoin4 years ago

Bitcoin and gold/silver both have their advantages and disadvantages. With the lack of confidence in fiat currency world-wide, there has been more acceptance of cryptocurrencies yet think the average joe still has no clue about them. There is a form of evolution happening with the way block chains are used....from bank-use, to payment transactional-use, to cloud-storage from what it originally was....a digital ledger (starting with bitcoin), and as such have made disruptive technologies such as cryptocurrencies in alignment. I'm still trying to understand it all myself but get the general idea. You also see a lot of the cryptocurrencies doing hard forks, and creating other "branch-off" currencies. You see litecoin hard-forked from the bitcoin core protocol, and others that I honestly can't keep track of. When you see a fork of ethereum and ethereum classic, sometimes it's hard to know which one, or if both will benefit. It seems many of them do soft forks using Sedgwick to improve upon their infrastructure as well. It's a very interesting time.

As for gold it has been money for 5000 years, and empires have risen and fallen with their misuse of it. I'm curious to see what silver does in the future. One thing I'd like to see is a cryptocurrency backed by gold (or alternate asset). Lots of interesting things taking place with crypto and the Blockchain.


To answer your question at this very second....I would take gold right now as it's $1284.50/usd whereas btc is around $1250/usd. When the trend reverses so would my preferences.