I can only imagine a bitcoin supporter wrote that.
Quote:
Originally Posted by dyna mo
The only reason gold has value is because one day... long before recorded history, society simply decided that this yellowish precious metal should represent ?money.? From that day forward--as that idea spread virally across the globe ...gold came to be worth something in the eyes of the people.
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And that is exactly why it is worth something. Because THE ENTIRE WORLD agrees that it is, and they have agreed on this since before recorded history. Bitcoins have been around for like 4 years and are mostly owned by geeks, druggies, and tech savvy pedophiles seeking child porn. That alone should be enough to end the debate.
Quote:
Originally Posted by dyna mo
Your gold coins or bitcoins (yet) won?t do much good at the grocery store.
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Perhaps in the western world. Not true in Asia.
Again, this shows the writers lack of global understanding of it all.
Quote:
Originally Posted by dyna mo
If the apocalypse arrived tomorrow, your gold and BTC won?t help you survive against the zombies.
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Again, not correct. Well, it won't help you against zombies, but if you research any financial collapse, gold was used for bartering and currency in every one of them. But he is correct in saying btc won't help you, because btc is over should the power ever go out.
At least you can hold a metal like gold. It exists in the real world. You can even kill someone with it if you need to. There is something to be said for that, and that is why the entire world trusts gold, and always has.
Quote:
Originally Posted by dyna mo
As long as Bitcoin exists, it will grow. So ignore the warnings of hype and talk of a bubble, in the long run, it?s all more or less irrelevant. The value of bitcoin could crash again, like it did in the summer of 2011. Or it could keep skyrocketing. Whatever happens, neither gold nor bitcoin are going anywhere anytime soon. In the end, that?s all that really matters.
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When Russia, China, India, the USA, central banks, and the global elite start stocking up on bitcoins, then the argument can be had that it is as good as gold. Until that happens, it's an online phenomenon that could end tomorrow or in 10 years. Make money while you can, as much as you can, and kudos to you for doing it, because the odds are not in its favor for long term survival.
That said, the concept is brilliant. We should have a competing currency. Maybe it's not btc, maybe it will be, but something needs to happen. Somehow the gov finds a way to shut down every one that even tries.
