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BITCOIN vs. GOLD: Which is the better long-term strategy for securing assets? Sobering analysis will anger some…

by Mike Adams, Natural News:

Across the independent media, there’s a fierce debate raging between those who promote GOLD vs. others who are advocating BITCOIN. I’ve been a long-time gold advocate and Bitcoin advocate, although I recently warned that Bitcoin was overbought and headed for a massive correction. In less than 24 hours after that warning, Bitcoin began a plunge that took it down nearly 30%. It has since partially recovered to the $2500 range, and the debate rages on.

What’s interesting about this debate is that all of us who are pro-gold and pro-Bitcoin are anti central banking. We all understand the total currency collapse that’s coming for fiat currencies such as the dollar. We are all fully informed of the massive theft of purchasing power taking place every day due to the endless money printing of the central banks, and we all want to promote and pursue strategies for asset protection that minimize risk.

In this analysis, I aim to give you straight up advantages and disadvantages of Bitcoin vs. Gold, then I’ll reveal my conclusion of what I think is the best store of wealth. (Hint: It’s a mix.)

Disclaimer: I currently own approximately 0.35 Bitcoins, and I am mining Bitcoins daily using a solar farm in Arizona. I am not betting against Bitcoin price movements in either direction. I also own some amount of gold, and I am not invested in any gold derivatives or options of any kind.

BITCOIN advantages and disadvantages

Bitcoin is a phenomenal innovation with extraordinary advantages over fiat currency, including its relatively rapid speed of transfer, its mathematically limited coin supply and its distributed, decentralized blockchain which avoids all government regulation. The fact that Bitcoin is completely decentralized means no government can shut it down. There are no central servers to be raided and confiscated at gunpoint, which is usually how governments shut down activities they don’t like.

Bitcoin is easily portable, so it’s a great “escape” currency. You can “carry it” with you without carrying anything that can be easily confiscated such as cash or coin. Your entire Bitcoin savings could be help on an encrypted thumb drive, or even in an online wallet where you remember the password (or tattoo it on your heel, just in case).

On the downside, Bitcoin is highly volatile and subject to outright thievery and con artistry (remember the Mt. Gox theft?) while depending entirely on the existence of the ‘net to maintain its integrity. Even more, Bitcoin now suffers from a “mania” mentality where most of the discussion about Bitcoin for new users is all about “how much money can I make” from buying low and selling high. This is a big red warning flag that Bitcoin is being pumped up by masses who have no business getting involved in crypto-currencies in the first place.

Bitcoin is not a good store of value, as evidenced by the fact that Bitcoin can crash 30% in 24 hours. In previous years, it has also fallen 50% in 24 hours. Because Bitcoin is entirely unregulated and is, in essence, a “perfect” representation of the psychology of greed vs. fear, there are no limits on the speed at which Bitcoin can fall. All price crashes are driven entirely by psychology, and fear is a very powerful emotion. That’s why Bitcoin tends to climb slowly and plunge rapidly.

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2 comments to BITCOIN vs. GOLD: Which is the better long-term strategy for securing assets? Sobering analysis will anger some…

  • john

    Try getting your facts right before spouting off.UASF bip 148 is a soft fork to instigate segwit,to persuade the greedy miners to follow suite.If indeed it forks into two coins,which indeed will double the volume from 21 to 42 million,one will eventually fade away as an alt coin,but bitcoin will still survive and be as strong as ever,although it might take time.You also assume that everyone who buys bitcoin,is motivated by greed,that may or may not be true.Personally I bought to hold through thick and thin,not purely for profit.If there is an EMP or nuclear war,your bank accounts would also be useless,as would your gold and silver.Fiat money is already 95% digital,try getting money out of an ATM,after an EMP attack.You obviously don’t believe in bitcoin,otherwise you wouldn’t have sold out,so rather two faced,I think.I have plenty silver and gold,so don’t need any more and am fed up of the manipulation.

  • Bob

    An excellent article on Natural News. Wow! I never would’ve thunk.

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