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@ Satoshis Nephew
2025-05-02 19:08:37
Tell me you have read 3 pages of BTC research while having a shit…
*Arguments in favour of Bitcoin, refuted by gold as preferred money*
1. Gold, you can’t eat. ~ Sure you can’t, but neither can your eat Bitcoin.
2. Gold is mostly possessed in vaults. ~ Not true. Central banks yes. Many wealthy people will store in safe havens, such as Switzerland. The majority of my investors and other investors take delivery of their Krugerrands. (They are strongly encouraged to do so).
3. Most gold is held as paper claims such as gold ETF’s. ~ Those who are cost conscious investors, yes, but otherwise not true. I strongly discourage this. My motto is, “ _If you do not hold it, you do not own it.”_
4. Gold being 5 000 miles away from you. ~ No, it is not if you take possession of it, it is close to home.
5. Bitcoins has features of self-custody, portability, divisibility, and borderless transfer. ~ Gold and silver meet these criteria too. I add silver because it meets the criteria of “divisibility,” of being able to purchase a basic basket of fruit and veggies for an ounce of silver.
6. Bitcoin is portable. ~ So is gold. Ask any German Jew who had to flee Nazi Germany, he could not take any of his assets with him, except his few gold sovereigns.
7. Have gold bars at home, how will you trade them in a crisis? Shave off slivers? ~ The best gold to purchase is Krugerrands. No verification required. They are tried and tested – in fact they are the best branded product that SA has produced. Silver, as mentioned already, is for the small day today items. Gold is for the big items such as property and vehicle purchases.
8. Bitcoin, even if stored offline, is liquid and globally accessible again. No middlemen. No delay. No paperwork! ~ The same is true for Krugerrands, internationally they are the most accepted gold coin, and can be instantly turned into cash.
9. Bitcoin isn’t dependent on the grid… it just uses it better than anything else ever created. ~ Neither are Krugerrands dependent on the grid. Gold has been with man for 5 000 years. In every financial crisis the world has always returned to gold. Gold has a dependable history that has stood the test of time.
10. Bitcoin still needs to prove it is a store of value, before it qualifies as money. It meets two of the three criteria, a unit of measure and a unit of exchange. It still needs to overcome the hurdle of volatility, only then will it be regarded in the tradition of sound money.
#bitcoin #BTC #timechain #digitalcurrency #HODL #satoshi #mining #lightningnetwork #asknostr