Actually GOLD is the gold standard. It has been money for 6,000 years and counting. Bitcoin has only been around for 8 years and it's already starting to drop the ball.
As soon as people stop believe something is a good store of value it stops becoming one. I own a good amount of gold and silver coins, but I am seriously concerned that the prices I paid for them may never been seen again, and I purchased around current levels by the way.
I know its a bit boring and it's never going to go nuts like cryptos, but ultimately gold bought using cryptos from gains made on cryptos is truly anonymous and will hold its value whatever happens to economies, cryptos, and laws.
So it's insurance. While cryptos go up gold won't. And vice versa!
Truth is I couldn't trade cryptos with full confidence if I thought I could lose the lot. Having 10% as gold means I can't ever lose the lot, so I can gamble the rest.
And Bitcoin I've made big gains on, sold and moved on from.
Actually GOLD is the gold standard. It has been money for 6,000 years and counting. Bitcoin has only been around for 8 years and it's already starting to drop the ball.
As soon as people stop believe something is a good store of value it stops becoming one. I own a good amount of gold and silver coins, but I am seriously concerned that the prices I paid for them may never been seen again, and I purchased around current levels by the way.
I'm buying gold now as a crypto insurance policy. So are Russia and China for when the US economy crashes..
I'm very confident bullion will climb. And Bitcoin will be replaced by better cryptos...
https://www.marketwatch.com/story/why-china-and-russia-are-buying-so-much-gold-2016-08-01
I am not sure gold is the way to go anymore, though it has a lot of history to back it up as a store of value in times of uncertainty.
I know its a bit boring and it's never going to go nuts like cryptos, but ultimately gold bought using cryptos from gains made on cryptos is truly anonymous and will hold its value whatever happens to economies, cryptos, and laws.
So it's insurance. While cryptos go up gold won't. And vice versa!
Truth is I couldn't trade cryptos with full confidence if I thought I could lose the lot. Having 10% as gold means I can't ever lose the lot, so I can gamble the rest.
And Bitcoin I've made big gains on, sold and moved on from.
Can you buy gold directly with crypto?
minimum investment is $1,000+ for bitcoin otherwise your loosing too much in fees.
Yea, the fees are pretty ridiculous. If they don't change something people will go to other chains/coins.
If they can get the lightning network implemented on the exchanges this will go along way to reducing the problem.
Bitcoin = digital gold. Litecoin = transactions coin
What is steem? The social media coin?
Buy Bitcoin now says stronglyteam with $1.50 in his wallet! :)