I need to have others who are informed to help a plebeian newbie comprehend the arguments for and against Bitcoin.
Specifically, I hear Dave @ X22 advocate for it (and make seemingly-excellent arguments in favor), and GhostEzra strongly insinuate against...
(And yes, I’m doing more research, of course. And yes, it’s my job to come to my own conclusions...)
Just thought I’d throw that out there, so I can accelerate the learning curve?
Gracias.
Trump wasn't a fan of Bitcoin. So you can toss that in to the mix as well.
Personally I think the idea of going around the central banks and having a limited money supply is great. Bitcoin does that, Gold/Silver also do that with the added (I'd argue major) benefit of being a store of wealth. That is, precious metals have had and will have value for thousands of years, whereas Bitcoin only has value because people say it does, in that way it's similar to fiat currency. Also, if the power goes out Bitcoin is worthless.
None of this is to say I think Bitcoin is bad, I really don't know. But for myself I don't trust it enough to have a major holding in it.
In its defense, I don’t know how the same isn’t said for gold. Can economics pede explain?
Not economics pede but gold is a physical asset and as a currency is a tangible commodity. Cryptos IMO are just digital fiat. Fiat only has worth because we trade our labor for it, thus lending it it’s intrinsic “value”.
You're not wrong. Gold also only has value because people say it does, the difference is people have valued gold for thousands of years even through dark ages. If we were in a total fallout zombie apocalypse scenario gold probably wouldn't be worth much and the only truly valuable assets would be food and ammo. I don't think we'll collapse that hard though.