Quote:
Originally Posted by Smack dat
Sounds like gold.
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gold has been a physical store of value for thousands of years and it is physically protected by armies...fort knox would be a good example...it is relatively non volatile and is not actually used for speculation...
bitcoin on the other hand is hugely speculative and rests on "glass legs"...over 90% of the bitcoin trade is done by 3 exchangers in china/asia...here is the last 2 years:
https://data.bitcoinity.org/markets/volume/2y?c=e&t=b
considering the bulk of the trade (speculation) is done in a region where the government can shut it down for no reason at all, I would say a comparison to gold is wrong...the fiat money that was put in to the system is there for the asian governments taking...think about that...