Quote:
Originally Posted by crucifissio
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... |
Bitcoin doesn't need no fucking armies protecting it, the math takes care of it.
Anyway, whatever. You can call it a ponzi. Call it speculation, whatever.
Maybe it will succeed, maybe it won't. Who knows but for those living in the now there is awesome cash to be made.
Where else can get a solid 4x return on your deposit within 6 months?