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RE: Buy the Dip - Would You Buy Bitcoin, STEEM, or Another Crypto?
Gold and Silver might be good but it's still just ones and zeros on a computer unless you physically hold the commodity. Obviously this comes with its own risks.
If encryption is good enough to keep our warmongering government save from attack then I trust it will do the same for blockchain.
I know that physical gold has held up much better than paper currency. $20 in gold 75 years ago will still buy you full value of what it is worth. Not so with paper fiat . Crypto could go the way of fiat as to devaluation over time unlike physical metals.
There's a reason the most knowledgeable people in the field refer to Bitcoin as Gold 2.0. This would imply that it's better than gold by a huge margin.
Bitcoin is blockchain 1.0, so I think that lumping all cryptos together and comparing them to physical commodities may show a significant lack of understanding/vision regarding the technology.
We already know how to create gold from energy, so saying that gold can't be devalued is also false. Just because it costs more energy today to make gold than it's worth doesn't mean it will be like that forever. Energy is relatively infinite. The technology to harness infinite sustainable energy gets better every year.
Crypto can't be devalued because it's value is regulated by the community that develops and uses it. Who would ever devalue their own currency? The only reason why the Federal Reserve devalues the USD is because they get to spend that new money where ever they want to. Debt-based economies are designed to enslave the population with usurious debt that literally can't be paid back. You vastly underestimate the value of this superior economic system because it is so grossly underdeveloped.
I'm banking on what you say here.