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RE: South Africa joins the party
I think if your currency declined 50% against the USD in the last 5 years, you would prefer a currency that appreciated 2000% in the same period. Even if it has price swing of 20% in a week
and for all those Gold bugs. South Africa having lots of gold did not help
https://en.wikipedia.org/wiki/List_of_countries_by_gold_production
Will Gold ever get it's place in the sun again?
Yes, when hyper inflation comes
I think cryptocurrency is taking its place now as a safe store of value
This is the point of this article. A country rich in gold is turning to cryptocurrency instead gold to store wealth
Yes, we are moving on with technology. Gold might come redundant in the future. Even oil too.
Oil is going down. I believe we are beyond Peak Oil already.
That is why OPEC is not cutting supplies and USD is tanking
https://en.wikipedia.org/wiki/Peak_oil
Gold will always be here. To be used by central banks and people without computers or smartphones
Yip, I agree. Both will be there but the role it plays will be smaller and smaller.
In the long term I agree but it depends how often you need to use it. If you need to spend your wages on rent for example and they are worth 25% less today than yesterday, that is a real problem!
yes, its easier to convert bitcoin back to rand when needed than to convert gold to fiat money to pay your bills