RE: POG15 Oct 2021 18:30
If I had a spare £10,000 to put into either bitcoin or gold right today , I think I'd still pick gold .
I've dabbled in bitcoin , and never made anything , so probably biased because of that .
I see gold as a store of wealth and a safe harbour in a storm .
I see bitcoin as the same , but I still can't bring myself to see it as totally real . I understand it is finite , and has all the qualities that enable it to be used for payments etc , but at the end of the day it has been created out of thin air , and although everyone has their passwords and it's shows as being worth $$$ on a screen , I just can't bring myself to buy any as it just seems too unreal .
The fact its gone so high reflects also on how worthless FIAT currency is , and how faith in FIAT is dwindling .
In a free market , gold ( and silver )would be rocketing too .
Its just at the moment we are stuck with a load of bullion banks ( as you well know ) trying to shoot themselves out of a pickle , and the POG is stuck under their boot until they get free .
Good luck to the Bitcoin followers , in a way they may end up helping gold , as the more popular crypto gets , the more FIAT gets left behind .
People will always value things with scarcity , be it wine , works of art or precious metals .
It may well be , that in 10 years , I end up cashing a few brits in for crypto , not cash , as that's what I'll need to buy stuff .
Who knows lol !