ShipREKT Gold - Another Reason Bitcoin is Better than Gold
A sunken warship has been found off the coast of Korea and it's thought that it could still have up to 200 tons of gold on board (worth around $5 BILLION).
This is a lot of money. And unexpected surprises like this can be considered a reason why BTC is a superior form of money compared to gold when you consider the fixed, unalterable design of Bitcoin's inflation rate.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
▲▲▲▲▲ Looking to get started with cryptocurrencies? Check out my crash course here: https://louis-thomas.teachable.com/p/buying-bitcoin-crash-course/
My video is at DLive
Bitcoin is just much more convenient to obtain and transfer. I hope soon bitcoin will be seen as the money of the internet.
I think there are two types of comparison that allow us to say that bitcoin and gold are salvageable:
The monetary vision: gold was a currency in a certain era, and bitcoin is a currency too (1st common point), except that gold is a matterous currency so we say that gold is a currency that has its value in itself.
How to have gold and bitcoin: the operation by which one builds bitcoin is called mining (as the case of gold) this operation requires 3 factor: big machines- time- and Workforce . it is very close to the mining of gold too which requires the same factors.
This is a tough one since they are very similar. Both are capital intensive although many do not know that because they compare the heavy machinery needed to the ASIC miners for BTC. However, the fact is that BTC will eventually stopped being mined which will bring more value to the asset as transactions continue peer to peer. Economics and markets will always ensure that gold will continue to be mined and transacted. the higher the value to more accelerated they can mine. Leading to decrease in prices.
As much as I respect your views on crypto currency’s and find your videos very interesting and informative ( I do hold crypto currency’s myself) gold and silver always have and always will be the best form of real money.
I would be very interested if you could possibly do a video on how you think crypto currency is that much different from the fiat currency we use today. Thanks mike
I am not sure that BTC is a competitor to Gold but they are both a store of value. IMHO I can't see space mining being a threat to the value of gold in the near or even medium term. In times of crisis history shows us that people retrench to physical assets and I think that gold is the ultimate physical asset.
Well all I can say is “let’s pray we will have internet without any outages”. As long as we have access to internet, bitcoin might be better investment than gold itself is. However, and I think you know exactly what “however” means. At the end, isn’t it the beauty about gold being able to be found being lost 130 or so years ago? I’ve heard there is already thousands and thousands bitcoins, perhaps millions lost or thrown away (private keys) when it was almost worthless. You can’t find it back, can you? As much as I love bitcoin, I think gold is a great long therm investment as well. Technology, AI, alternative energy will require use of gold. In the future demand for gold will be much higher that it is now and if combined with inflation, I just can’t imagine where it will be in the next 10-20 years. As I mentioned I love bitcoin, but I love gold as well.
There is no doubt about bitcoin being the best investment of today’s generation. This is completely new cycle, something completely new. Gold is here to stay and will always play a huge role in present as well as in the future. It’s just too difficult to use actual gold as a payment system, even more difficult for transactions oppose to bitcoin. Some may say bitcoin is not backed by anything, I know they are wrong.
Bitcoin is already the Gold standard of cryptocurrency. There is a certain level of domination it holds that is hard earned and difficult to beat.
Dude I love Bitcoin and I respect and admire you immensely. But I have to say that considering bitcoin superior to gold is .............. there is no easier way of saying this ..............it is bit of a stretch, to be polite. Although I am a pretty agreeable guy but
Let me just say that any and all encryption can be beaten (given enough time). This is not a problem we face now but the truth is that maybe in a few decades hacks will not happen by exploiting bugs but they might happen by actually hacking through the encryption itself.
Just like Bitcoin has proven its worth amongst crypto in that past decade, Gold has done the same for past several millennia. The gold reserves of the world have also been explored for past thousands of years and the flow of it in the world has been regulated by for a long time as well. The 'regulation' also means that gold has had the time to entangle with corrupt ideologies and yet survive as the standard for money.
In my mind Gold is the essential definition of money. Cryptos too like all other money are susceptible to inflation and exploitation. I love cryptocurrencies because they have the power of decentralization and by that extension a potential of bringing us out from under the thumb of government endorsed financial slavery.
As for the scenarios where Gold enters our financial sphere from space, we definitely need a scenario to deal with it. Although it is a statistical improbability (because even after an existence of earth in cooled state for 4 billion years, we rarely find gold extracted from a meteorite) but it is not an impossibility - just like the fact that no matter the strength of encryption, it can be vulnerable in future.
Interesting to listen to your video it's informative especially to those people like me who are just now learning about these things and the types of cryptos there are in the world market.
Let’s be proactive and go mine them there asteroids rather than waiting for them to smash into the ground.. . Fully agree with the concept though.
Once gold goes below $1000 it will be an interesting investment along with bitcoin as we all wait for the next inevitable crisis