Why Bitcoin Is Better Then Gold if The USD Collapses
Now I just want to start off by saying that don't get me wrong, I don't think gold is a bad investment at all. I truly believe in gold and everyone should get a hold of some in the coming months (for investment purposes only) as the collapse of the USD is nearing close. Every Economist is predicting somewhere near the end of September or the beginning of October 2016. So I suggest you start paying close attention to the economy these coming weeks and follow @dollarvigilante on Steemit for up to date info on this trend.
But getting back to why I personally think Bitcoin is much better to own then gold are for a couple of reasons actually. Let's say that in the coming months the USD does collapse and you happen to own Gold. I'm mainly comparing this do to what's currently happening in Venezuela at the moment. Now I don't know if you been up to date on your current events on what's going on over there but their economy & currency went down the drain. Which can happen here as well if the USD does the same. Bitcoin has been booming in Venezuela and I have yet to hear a word about the Venezuelans buying or even trading Gold out there. Bitcoin ATM's have been popping up everywhere and even an increase in Venezuelans on Steemit and in the Crytpo community in general. This again can be a mirror of what can happen in the U.S..
If you own Gold and the U.S. is currently under martial law do to the dollar collapse, I'm more than sure the U.S. governments first thing on their list is to take the citizens Guns and Gold away and I truly believe this can happen. It has happen before and it can happen again! Now I don't know if you know this but it also happen in New Orleans when Katrina hit back in 2005. They started to take the Citizens of New Orleans guns away to make sure they wouldn't have ways to defend themselves. Here is a clip of an actual event of an old lady (yes an OLD LADY!) trying to resist the police from having them take her away from her home and taking her gun away (towards the end of the video).
Now this happen when a hurricane hit the U.S. but now imagine if there was actual martial law all across the U.S. and the U.S. Dollar collapsed. Yeah I know it will be even worse than you think :(
Even if you had gold now two things may happen to you. First it WILL get confiscated as it did back in 1933. Don't believe me, see it for yourself:
Second let's say you manage to hold on to your gold for some crazy miracle. How would you go about spending it or even trading it? will you go to the supermarket and tell them here have a gold coin when your gold coin will be worth a lot more than the actual groceries. Yeah I don't think so. You will have to put a lot of work into melting it down to very small grams before you can actually start trading it or even buying things with it. Sorry to much work and not only that it can also be faked and stolen easily. As soon as others find out you have gold and a whole lot of it during crisis times. You can put yourself and your family into danger from possibly getting robbed or killed over it. Sorry but sounds like gold is more of an actual risky investment to me in time of crisis.
If these two things manage to happen to all of us in the U.S.. You can just imagine how everybody will start to run towards purchasing Bitcoin. This will shoot the price of Bitcoin to thousands or possibly millions per coin. You will be able to purchase anything you want without having a bank, government or third party involved. You can run over to your nearest supermarket still and purchase whatever you want with ease, well that's if the supermarkets accept Bitcoin of course, which I'm more then sure they will once the dollar is worthless. You will still be able to trade and even earn an income from Bitcoin online while others are out of a jobs, do to them only accepting USD.
You see the potential of Bitcoin here people! Sky is the limit if the U.S. Collapses and I know the world will realize this in the coming months! Now I know everybody is entitled to their own opinion and just thought I share mine about Gold and why I think Bitcoin will succeed where the U.S. Dollar Didn't. My recommendation to you is purchase Cryptocurrency and invest in YOUR FUTURE!
Hope you guys found this post helpful! :)
What do you think is a better investment in a time of crisis like we see in Venezuela, Bitcoin or Gold?
Best of Luck my fellow Steemers!
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We might want to careful about Bitcoin if the dollar collapses, since 70% of the hashing power is in China: https://steemit.com/bitcoin/@alwillis/vinay-gupta-puts-a-bullet-in-bitcoin
2016 is not 1933—there will be no confiscation of gold if there were to be a collapse. The country was on the gold standard at the time, which is obviously not the case today.
Both bitcoin and gold would skyrocket in the case of a USD collapse, which is unlikely, since the USD is the reserve currency of the entire world. If USD collapses that means every other fiat currency is literally worthless, so people would naturally turn to the dollar, boosting its value.
The problem with bitcoin is that 70% of the hashing power is located in China, so if something serious goes down, China isn't going to go out of its way to help us, so keeping the miners going to process bitcoin transactions isn't going to be at the top of their list.
Hopefully ethereum will be on proof-of-stake by the time such a collapse happens, so there would be no more need for mining and people can use their smartphones and laptops and not data centers to support a cryptocurrency.
Great post @btcupload! It's scary to think that the US gold will collapse, but very true. We can see the situation in Venezuela already so is good to be prepared and have Bitcoin.
Thank you @travelista 😉 and yes bitcoin is my recommended currency to stick with!
Probably not a bad Idea to own both. Bitcoin is easier to transact than gold when the electricity is working and gold is obviously the best alternative when there's no power. As for the Venezuelan's not using gold check this out. One ounce of silver can buy you six months of food in Venezuela.
http://www.zerohedge.com/news/2016-08-04/srsrocco-precious-metals-webinar-big-events-coming-1-oz-silver-buys-6-months-food-ve
Wow I did not know that, but yes I agree it's always best to invest in both and I believe silver would be more easier to spend then gold would be.
The 'coming collapse' of the USD has been 'real soon now' since the eighties.
More like the teens. nineteen-thriteen that is.
Yes I couldn't agree with you more.
i like BOTH :D
Always a safe bet to own both ;)
Much wiser to invest in Silver, it has much more upside potential than gold, it has a higher demand and you can always sell silver easily. Also Silver coins are CGT FREE. It is the most under valued asset in the world. I would choose Physical Silver Coins .
Yes I actually own more silver than gold for this reason. I truly believe it would be much easier to spend then gold.
google "john nash bitcoin" if you really want to know the real reason why. He spent 20 years explaining both the value AND the limitation so of gold. Then he predicts a e-money with a stably issued supply will asymptotically take power from central banks/authority to arbitrarily print money.
Thanks @jokerpravis I will look into it. Sounds interesting.
There are more guns than people in the United States; there would be no way the government (or anyone else) could confiscate everyone's guns: https://www.washingtonpost.com/news/wonk/wp/2015/10/05/guns-in-the-united-states-one-for-every-man-woman-and-child-and-then-some/
I just hope your right my friend!
There are some big boys investing big in gold right now not a smart move I don't think.