The one big difference between Bitcoin and Gold

supersunbird said:
Eish, better the Devil you know haha.

Anyway, an EMP or such destroys electronics... how's your bitcoin gonna pay for anything now?
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It will have to be an EMP that destroys all copies of the Blockchain around the world. In any case, if that happens Bitcoin will be the least of your worries.
 
netcruiser said:
It will have to be an EMP that destroys all copies of the Blockchain around the world. In any case, if that happens Bitcoin will be the least of your worries.
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But you'll be glad to have a few gold coins... and ammo, lots of ammo.

EDIT: so bitcoins can't be lost?
 
supersunbird said:
Anyway, an EMP or such destroys electronics... how's your bitcoin gonna pay for anything now?
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But then you can just flip that as an argument against anything tech related, like learning programming: Anyway, an EMP or such destroys electronics... how's your programming knowledge useful for anything now?

The value something has is surely independent of it's ability to withstand catastrophes. A storm could wreck my house, should I not invest in that art collection etc.?
 
supersunbird said:
But you'll be glad to have a few gold coins... and ammo, lots of ammo.

EDIT: so bitcoins can't be lost?
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There are literally thousands of copies of the Bitcoin blockchain around the world. All you need is one to go on where you left off.
 
Captain obvious in the house. Bitcoin was invented in 2009, so no it doesn't have a track record as long as a metal you dig out of the ground. And yes, governments will probably try to stop it. They won't succeed, because that's kind of the point of it.
 
Governments will never tolerate a separate monetary system outside of the formal banking system, so it will almost become illegal if it truly becomes big.
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Want to take a bet?
 
gold has been a treasured commodity for a very long time, while Bitcoin does not have the same track record.
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Ironically, a quote that Financial Analysts LOVE and practically live by is Past Performance is no indication of future performance.

It seems they are letting their bias interfere with their analysis of it.
 
please tell me how to send a R100,000 worth of gold to China?

will probably need a big contract with DHL.... and lots of patience.


meanwhile - on Luno - 4 clicks with a mouse, type the number 3, paste a destination address. and voila.
 
supersunbird said:
Eish, better the Devil you know haha.

Anyway, an EMP or such destroys electronics... how's your bitcoin gonna pay for anything now?
Click to expand...

And you think gold will be any better?

The best form of metal to keep your wealth in is silver IMO because it has more than just intrinsic value. It has significantly more industrial use than gold, meaning that if the great happening were to happen, it would be far more useful than gold.
Plus since it is less valuable, silver coins would be much more useful to trade with as you won't have to do as many subdivisions.
 
Adapt or die. No amount of laws is going to prevent it from being used. Banks and reserve banks are all just private institutions. Put as many policies in place as you like, isn't going to change that I will send money to my brother across the world in crypto and bypass your ridiculous banking fees. Any government or bank that isn't on board in 10 years or so will just wither and die (Currently looking like it'll just be the US, they don't want to lose their $/trade monopoly, and select countries in Africa like ourselves, whose leaders need to bath in pools made of [-]fire[/-] gold).

As for emps... I'm sure that'd take out the precious atms too:D
 
Ancalagon said:
Ironically, a quote that Financial Analysts LOVE and practically live by is Past Performance is no indication of future performance.

It seems they are letting their bias interfere with their analysis of it.
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Performance isn't the same as value.

konfab said:
And you think gold will be any better?

The best form of metal to keep your wealth in is silver IMO because it has more than just intrinsic value. It has significantly more industrial use than gold, meaning that if the great happening were to happen, it would be far more useful than gold.
Plus since it is less valuable, silver coins would be much more useful to trade with as you won't have to do as many subdivisions.
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Gold's value is entirely due to its industrial use.
 
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