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RE: More Ron Paul Followers Prefer Bitcoin To Gold
Of the three, it makes the most sense.
The dollar will be worth at least 20% less due to inflation in 10 years...gold spends a lot of time going nowhere.
Bitcoin, as McAfee said, isnt subject to the same financial laws that others are...since it is also a technology, bubbles are not part of its makeup.
There is so much press about bitcoin right now and the gold market is not giving much of a return that it is easy to see how many gold people will drift towards btc.
In the end, Paul's point is valid. Fiat is on its last legs.
I agree. But holding (sorry, hodling) a speculative asset that is slow and expensive for payments only for use it as money creates a really great ris because of BTC's high volatility.
Consider also that bitcoin too risks to be not eternal. If network would frozen and transactions would move to Litecoin and other alt, Bitcoin fundamental value (that is the base of every market) should fall near to zero.. And so, great rally will be really really harder to sustain. Expectations will move to other crypto. Yes, at the moment Bitcoin has the brand and the first-mover advantage.. But this isn't an unstoppable advantage.
So in my opinion bitcoin is really an high-risk asset.