RE: gold v bitcoin12 Dec 2020 15:58
I have been in GGP since 2014 I think... But the majority of my holding is from March 2020. I have been in crypto since early 2017. IMO, digital currencies will happen, (not if) Look at Libra for Facebook. The big issue is centralized vs decentralized. The banks want a centralized version so they can continue to maintain control and earn the big bucks. The whole decentralized version eliminates the banks - this is why the banks are so against it and have been rubbishing bitcoin for years. BUT look how many of the big banking houses have very recently invested in bitcoin. Then you have blockchain, an amazingly powerful technology that is a global ledger for verification. A multi verification system that global, geographically independent, and highly encrypted. Verification is part of a block, a layer, and once locked, unbreakable or editable. So once a transaction or smart contract is written into the block and it is built upon - it is there for eternity and cannot be tampered with. Blockchain is being used to combat the billion-dollar counterfeit industry. Blockchain is being used in food processing tracing ingredients from field to fork. Tracing food poisoning etc etc. Bitcoin is the daddy of crypto - but the tech is pretty clunky. Etherium and others are far superior and in place in real work apps already. It's inevitable that crypto will succeed. It's just the banks and gov that want to stall it as long as possible so they can catch up with a centralized model.
Just my thoughts on the matter...