KITCO News - The gold Versus bitcoin debate goes on.

[AurumArgenti]

🤫🤫🤫😉 Don't tell HawkHybrid FFS....😜 Sorry Hawk just teasing.🙂

 

[sixgun]

This is the latest drop gold advert - so lame 

 

[AurumArgenti]

1 minute ago, sixgun said:

This is the latest drop gold advert - so lame 

 

Indeed! 

[Guest]

No just no to me personally. No! I'm not wasting my time on this argument right now.

Bitcoin is tied to fiat currency and it's too young (ESPECIALLY - can't stress this enough and isn't accepted everywhere).

With any kind of economic collapse and/or economic problems alone and/or some great economic downfall of man bitcoin and/or crypto is going to be more useless and/or worthless to me than the U.S. Dollar and/or any Fiat Currency (U.K. forum (mostly I want to say) - "pounds").

To me personally.

Fiat Currency (collapses) - 1/10 the original starting value and/or starting price. Crypto currency and/or crypto prices for that matter will be 1/10th of Fiat Currency alone to me personally. The main / major reason behind this I think is people will panic sell for fiat currency and if fiat currency is only 1/10th it's original going rate or whatever people are going to have to sell their crypto / bitcoin and/or a vast majority in the 70-90% range will have to sell their crypto / bitcoin at that point.

Fiat currency 1/10th of it's original value - crypto / bitcoin 1/10th the going rate of fiat currency. So if fiat currency drops to 10% or 1/10th of 100% at that point crypto / bitcoin will be just 1% or 1/10th that of fiat currency. So fiat currency is 10% and bitcoin / cryptocurrency is 1% of that at that point.

This is more or so a personal opinion piece of mine and/or what I figure myself (somewhat at least or in that realm). I'm not a financial advisor myself.

I do have crypto / bitcoin myself to state that here. I don't have much myself, but I do have some.

I figure it's Precious Metals (Silver / Gold / Platinum) Vs. Fiat Currency --> bitcoin / crypto (which is tied to fiat currency and can't standalone to me personally yet). It's not even accepted anywhere for the most part unless you are online.

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Precious metals have stood on their own for 100s if not 1000s of years for that matter. I'm not saying bitcoin / crypto is wrong or it won't work, but due to it's young age and not being able to prove itself yet over time especially when it comes to standing on it's own I'm a massive "NO" on this myself no matter who it is saying it to me personally.