Gold or Bitcoin? That is the question...
If you had to choose between gold or bitcoin, which would you choose and why? Bitcoin has gone ballistic in the past week, and gold has been holding steady for quite some time.
If I had to choose, I'm more of a fundamentals type of person, I like to hold my investments in my hands, and so, I would go with gold if I had to choose, but then again, it's tempting to know that BTC just keeps on rocketing to the moon!
Leave your comments below, I want to hear what you think about the question!
With the way things are headed in the world, I feel much more secure holding on to physical precious metals than crypto currencies. Not to mention potential for solar flares, EMPs and other potential hazards that could wipe out servers and leave you without a way to access your cryptos for some time. I prefer what I can hold in my hand, and silver and gold are 2 forms of money that have lasted for thousands of years. No other form of money has retained its value for nearly as long, not even close. Just my .02
I couldn't agree more, @famcore. I've heard from someone that bitcoin is the new tulipmania...
i'm considering getting out of gold miners completely for crypto. I still hold alot of physical but manipulation in the precious metals markets is horrendous. You never know when it will end, the end is always near but you don't know how close you are. Atleast the crypto is less manipulated and isn't suppressed.
Hyperinflation is around the corner for most western countries and already hitting south america hard! Physical metals are harder to carry around, easier to steal, harder to procure even if you had the means. I'd say hold both but more people will be fleeing to crypto and governments will be buying major quantities of both.
Good perspective on the subject. I can speak from experience (as a matter of fact I'll do a post on what price inflation looks like in Argentina), inflation sucks if you're on the wrong side of the equation. As far as cryptos go, I understand that BTC has a limited supply which is probably going to take its value in USD to the moon, more than it already has, but on the other hand, I feel there's a move in play to control specific areas of the internet, hence the Neutrality laws they're trying to pass, as well as the recent ransomware attacks, all aimed at making bitcoin and crypto currencies look 'unsafe', therefore creating the idea that holding USD or putting your currency into your checking account (not money, you can't deposit gold or silver into a checking account, as far as I know) is 'safe', and if it's in the United States, it's even safer.
Another worry is the idea of the internet either going down in any number of ways, which as you clearly state, could leave crypto wallets completely unavailable for who knows how long.
To summarize, I agree that holding some of both may be prudent, considering the state of the markets right now.