Quote:
Originally Posted by greg80
Bitcoin is NOTHING like gold. How can you claim that something that exists only 4 years has the same value as storage of wealth and security as gold? Gold has been a currency for thousands of years and millions of people have lost their lives over it over history. Gold is the main reason why Christopher Columbus discovered America and has driven men to the edge of the world. Bitcoin is produced by some geeks in their mothers basement and can be worthless tomorrow.
There is no safer feeling than knowing you have few kilos of gold somewhere in a safe storage for rainy days. How safe can you feel with having bitcoin as your long term backup?
Gold is very liquid, you can go to any real gold dealer with good delivery bars or bullion coins and get spot price for it, even spot +2% for some more popular bullion.
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Wonder how much everyones gold in Europe was inflated once tons of it started arriving from the new world. On another note, not sure where you live, but the US did confiscate everyones gold in the 30's. So having gold isn't a sure deal. With Bitcoins they would have a task trying to confiscate them. :p