Quote:
Originally Posted by Idigmygirls
Physical gold is not inconvenient. In fact, some of the coins are just works of art!
And yes, it is trivial to verify that the gold is genuine - particularly if you hold it in the vault of a proper physical gold broker with proper insurance. I don't actually buy much gold to hold like at home lol. You buy coins directly from the mint (I buy directly from Canadian mint) and drop ship to various bank vaults. Our mint also has brokers, so it's easy to drop in, buy a couple of coins if that's your preference.
It's as convenient as holding a few quarters - though like I say, for me, because I buy in very large volume, I have it stored in bank vaults and in brokerage vaults - all insured.
But tell me, how will you transact your bitcoin in a power outage? How convenient is that? What about when your ISP is hacked and you can't get online. Or what about after an EMP attack? Where's your Bitcoin then?
Don't get me wrong, I own a lot of Bitcoin. But all eggs in one basket - particularly when you can easily see the attacks on the blockchain that are inevitably coming - how is that smart?
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If someone is holding your gold, you have potential problems. If everything goes to shit, it might be as hard to access as BTC in a power outage. Not to mention the paper trail. BTC is an alternate store of value that is easily movable and I have it with me in a hardware wallet. Crossing borders with gold is a non-starter. It all comes down to preferences. The price of gold has never differed significantly and no one knows where all the gold is or will come from. Like diamonds, there may be more than is comfortable out there. BTC is finite by design, thus value increases with availability or lack of. I won't be worrying about quantum computing in this lifetime. That issue is easily solvable.