The Phaserl


Must See Infographic: Gold vs. Bitcoins

by Brittany Stepniak, Wealth Wire:

Fear has motivated hundreds-of-thousands of people to invest in gold bullion in the past decade amidst a slew of unfortunate economic events.

People are now convinced that gold is the one true real currency; a safe-haven from the ever-looming adverse affects of deflation. Those people want protection from a potential collapse of the dollar in an otherwise unprofitable economic environment.

But recently, a new currency has stolen some of gold’s spotlight. It has captured the hearts of many Internet-savvy consumers…

The bitcoin is a virtual, digital currency created in 2008 by pseudonymous developer Satoshi Nakamoto. This year, the bitcoin became a global phenomenon and hit an all-time high, topping $200, on April 9, 2013. In intraday trading, it soared all the way to $240.11.

People are smitten by bitcoins because they are free from the control of central banks and represent the ideology of a true “free-market.”

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1 comment to Must See Infographic: Gold vs. Bitcoins

  • NaySayer

    But who controls bitcon? Seriously, who does? Some japanese guy? The CIA? They say nobody does but why should I believe some faceless mystery men?

    In this age of economic uncertainly why should I think there will be electricity when someone wants to cash out their bitcoins? There are periodic outages of electricity in most countries in economic collapse, just read Ferfal Aguirre’s book about what is happening in Argentina. Do I want to go hungry waiting for the electricity to come back on?

    How about the worth of bitcon? It is still just a promise to pay, not real money in my hand. It is worthless if nobody is willing to give me something for it that a grocery store will accept for food or a gas station in every town is willing to take for fuel. It is not as good as the green pieces of paper which while they still have value are at least accepted everywhere. You can at least wipe your butt with green pieces of paper, they aren’t very absorbent but they are at least physically real.

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