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David Ingles shared: Safe haven: Gold or Bitcoin? We found out today.
Community Response:
Gold pumped on short-term irrational fears. I’m sorry, but the future will not be lugging around the heavy yellow metal. Or trusting the third party to hold my metal so I can buy stuff on Amazon with it. Not going to happen.
Pretty much. Why wouldn’t a monetary network that preserves energy (21M hard cap) without loss be the superior store of wealth? Conservation of energy. Thermodynamics. “But pet rock is superior money” Market penetration isn’t there for gold to succeed for billions sovereign-ly.
Some people wear their money. Will some people wear NFTs as bling on digital display jewelry? Sure. Also, there is probably some first-mover advantage for pet rocks.
It’s interesting to note that gold rallies on pessimism and war, while #Bitcoin rallies on optimism and hope.
Nope bro, a war on the ground is not pessimism, it’s a goddamn war happening on the ground.
The correct statement would be; Gold rallies when reality strikes, Bitcoin thrives on speculations and digital aspirations.
Do the homework. It’s 1998 for BTC, 20 years of Metcalfe’s law still to occur.
Pretty much. Why wouldn’t a monetary network that preserves energy (21M hard cap) without loss be the superior store of wealth? Conservation of energy. Thermodynamics. “But pet rock is superior money” Market penetration isn’t there for gold to succeed for billions sovereignly.
Respect your opinion if it’s backed up, but there are so many factors that optimists about crypto tend to ignore.
Gold has already failed billions. Bitcoin offers a superior solution. It’s easy to say “optimists ignore factors” as if bitcoin devs aren’t developing solutions to address many factors. No one in bitcoin ignores, they engineer.
Canadian couple leaving the country with their gold stash.
That’s about $5B+ worth of gold. You can fit 5M dollars of gold in a small backpack.
And how do you explain fleeing Ukraine with that bag?
Financial planning: 1 backpack of gold Squats 10 reps Check Kitco Stairs 5 sets Twitter break.
Bitcoin is still in its infancy. It’s not easily accessible to most into the flow as they’re not cleared to trade it or set up for it. We don’t even have formal regulation yet from the SEC. Let’s revisit when we have invasion headlines again in the next 5 years.
Do you still have Bitcoin if the is no electricity?
Boomers control most of the wealth and they see it as a haven Boomers are on the way out Millennials see Bitcoin as the haven this will change by the end of this decade.
We’re not dead yet. The oldest Boomers are only 76 now. For the mid/younger Boomers, our parents may still be alive, as well as some of the Beats in between.
I think it’s a good time to buy bitcoin.
How much pltr bought in gold regarding a black swan event?
Bitcoin was never about being a haven – it’s the riskiest asset by definition
Bitcoin is a dead Ponzi.
You meant USD right? This chart shows the decline in USD value vs BTC.
Anyone with half a brain can figure out Bitcoin is not a gold replacement. Schadenfreude is in full effect at the moment.
The problem with safe-haven assets is I can never really enjoy the “I told you so” because the world is falling apart too fast to care or relish it.
Bitcoin is highly correlated to the Nasdaq index. No safe haven. Safe-haven assets are Gold, US treasuries, USD, the Yen, and CHF.
Don’t you think the USD is getting riskier as a safe haven?
No. People predicting the collapse of the US financial system are fools or opportunists (but fools nonetheless).
Gold makes one move in over 10 years, go ahead & enjoy.
Sounds like another person who’s lost a lot of money in Bitcoin
I see you share the same time preference as Peter Schiff unfortunately gold already failed as a safe haven years ago. Bitcoin is better money in every way.
Keep telling yourself that. You can scream the sky is red all day, doesn’t make it true.
