Bitcoin vs Gold and Silver | The REAL Rundown

Bitcoin vs gold and silver debate

[alexbarber]

Pretty sure the original J.P Morgan said: “Gold is money, everything else is credit.”

[Spirit-FilledMindset]

You are touching on the worst possible argument that no one disagrees with. Decentrilization. That's the only strength bitcoin really has. There is so much more risk owning bitcoin even on cold storage than having physical silver or gold. Volatility (can't be used as currency effectively with that kind of volatility), power outages (good luck converting your money to any other currency if you have a power outage), government freeze, and future hackibility.

[frothybeaver]

I believe the saying is gold is money everything else is credit.

[georgegomez]

PHYSICAL SILVER..PLATINUM... AND GOLD...OH

[michaelxwhite]

In Venezuela they are bartering with silver.

[DPHMM]

I believe it depends on what you are trying to do with it. I have gold coins, silver bars and a few cryptos as well as a medium size stock portfolio, own a small buisness and real estate. There are reasons you would want all of these things. Notice i did not mention a large savings account as tend to keep myself cash poor and would rather turn cash into an asset.

Metals for long term storage of true wealth. Cryptos and stocks to trade all day and build more wealth, small buisness for tax breaks and other cash flow as well as real estate for turning dollars into a tangable asstet that grows over time. Having a place paid for or paying for itself. If i need dollars i can either sell asstes (unlikely) or go to a bank and get more dollars to grow over time. Money for real estate is easy and has been cheap.

Thanks for the interesting discussion. Metals all day, if you dont know how much your wealth weighs what are you doing?

[HieuChiLe]

I would rather have real gold and silver.

[azwelke]

If bitcoin goes to zero, it becomes worthless, Gold and silver can never become worthless, because they have other uses. Even if all money went away, they would not be worthless. They can be used for jewelry and technology, they have many many jobs.

[marcthesilvershark]

You can most definitely have a crypto backed by precious metals or stones! And your BitCon is fractional instead of more and more they break down smaller SATOSH! And digital fiat is worthless as paper fiat neither is backed by crap!!!

[soaceba]

Glad you're back posting new stuff 😎🤙🏼

[azwelke]

Crypto's and bitcoin might be secure right now, but all it takes is another super computer, new technology to break into that technology and poof it's gone.

[Rdo_ss]

Dont tip that big silver bar over and break your cold storage device

[gasdorficmuncher]

bitcoin is for the weathy to trade each other ...seriously doubt the general public would trade bitcoin but they know gold and silver

[tiedtight]

What happens if the computer system goes can't hold bit coin.... however I still have Bitcoin.

[johnbethea]

Anyone who trust the government could be a fool???? Once a casino had $1, 000, 000 in $10, 000 bills on

[migooknamja]

In Korea, the highest note is 50, 000 won ($42 USD) and almost everyone uses card-only. They really do not want you to have cash. Also, the KOMSCO mint may be short on gold as they only minted 300 gold tigers this year. The entire Korea financial system is dependent on lofty real estate loans and or down payments

[TXLionHeart]

So, the problem with gold-backed crypto is that the gold backing the token may not actually be redeemable; therefore, get Bitcoin because there is nothing to back it in the first place?

Doesn't real money have value because it is a means of storing future economic utility? (E.g. silver is valuable because everyone knows that someone will need it to make certain goods)

[morteza]

I think bitcoin will replace cash. (lightning network)
Because extracting gold will become easier over time as technology improves and energy becomes cheaper all metals will go down measured in bitcoin.
Even if we extract all gold in the solar system, recycling it will become cheaper over time. But I'm talking about centuries.

[RedShiftedDollar]

Actually there is an important distinction about the three forms of money on your table. You possess the gold and silver directly. However your cold storage wallet holds keys used to authorize transactions. You do not actually have custody of bitcoin tokens in that wallet on the table. The nodes are the custodians of your bitcoin because they control the ledger. Holding keys isn’t horrible and it’s better than traditional banking, but it is not custody on the same level as the gold and silver you have.

[MarsAttacksMemoirs]

Sounds like a balanced approach from my limited previous understanding. Thank you 🙏