Canada Has By Vote, Become Officially Communist.
BREAKING NEWS
At a vote of 185 to 151, the DemoLibs of Canada have successfully made their PM TruDope a Communist Dictator by agreeing to formally vote in his “Emergency Powers”! God bless the Conservative people of Canada, and have no mercy on the Communists that have allowed Tyranny to overthrow their country. Stand tall America. Russia, Brazil, a handful of other countries, and we are all that stand against the World Economic Forum. And We Will Win.
Careful, criticizing crypto is like mentioning Q in the Doom Room a/k/a patriots.whine
You're instantly a 'tard, a joke, an idiot, etc. LOL
Fren! here are some responses to your well written, eloquent post.. here is a point of view, and some responses to your post to help enlighten...
First, it's very important to distinguish between Bitcoin (BTC specifically) and all the other 'Cryptocurrencies' out there (ETH, etc).
Bitcoin (BTC) is the ONLY truly decentralized Blockchain in the world at scale. We can get into that, but this post will be super lengthy. It is unstoppable for the reasons that no one controls it. Gov can't get rid of it, but on the other hand, it would only take a few phone calls or mandate to utterly destroy ETH and the rest.
Untraceable? -- The Blockchain is just an open ledger that holds every transaction done since inception, recorded/written by the 'Miners' and verified by the independent 'Nodes'. So it is not an Anonymous system, but a Pseudonymous system.
Unhackable -- it's called Crypto for a reason. It would take a very powerful quantum computer to be able to crack the cryptographic key. Of the current ones in the world, e.g. Google and IBM, it's very far off from the necessary compute power.
Gold/Silver vs. BTC -- This is where people get all up and arms and debate themselves into oblivion. There are many pros and cons to both, so the debate should be centered around specifics and what the intention / reason is.
Investment? -- Gold/Silver is NOT a good investment, if you wish to grow your wealth, you've been bamboozled by the big dogs. The metal markets have been overtaken by derivative instruments AND without the ability to verify holdings, it's a fools game. JP Morgan is laughing at all of us.
The US Dollar has been debasing so your purchasing power has decreased drastically over decades. Gold bugs should remember (or learn) the history of the US Dollar decoupling from the Gold Standard and the events preceding that, at it's core is the inability to verify holdings...
Bitcoin (BTC) is a ~11 year old invention, and it's only been considered a serious 'asset class' for maybe 3-4 years. It's in the infancy stage, just like the internet.
Like for like though, investing in BTC to grow wealth is also a speculation. Will it increase? Yes I 100% believe so, BUT not because I 'believe' it will, no because of the data and fundamentals. Different story which we can get into another day.
When Shit Hits The Fan -- if the shit ever hits the fan, and we fall back into a barter society. I don't want your gold or silver, they are worthless to me. I want food, ammo, necessities. So it's between the buyer and seller, what do each want and what would be considered a good 'medium of exchange'.
Q said not to worry -- Q team did say we are safe.
So, the question is WHY are people investing in metals?
There are pros compared to metals -- portability, divisibility, easily transactable, to name a few.
However, what the Canadian gov has shown us is the value of holding your own assets... be it physical metals and/or Bitcoin in 'cold storage'.
BTC as an investment will and has outrun the metals market. The short term volatility is nauseous to many. But look at the charts and see for yourself and use a longer term horizon.
e.g.
$100 invested in Gold/Silver 4 years ago, vs. BTC, where would you be now? $100 invested 3 years ago...
etc.
IF the goal is to horde more physical gold, then what I would do is invest in Bitcoin for a few years... then move my gains to metals.
But as you say, if the dollar isn't going to tank then why 'invest' in metals? If you want to hedge against the US Dollar then there are other ways to do that as well.
Gold and silver platinum copper and diamonds etc. Is useful for more practical reasons rather than looking pretty which is why I personally consider them valuable as a resource to be utilized rather than a currency not that you couldn't trade it to someone who can actually use it. Best value is something that keeps you alive.
It is the opposite of untraceable. The public ledger keeps track of all transactions.
Excellent points. If you can’t access the internet, you can’t access your crypto. Don’t you think Mr. Global knows this?
You could still access it just not spend it without the internet. As long as you have a good off internet storage wallet for your crypto. Online wallets are often far more easy to hack than the crypto itself. It's not worth the risk or possibility of them updating their tos and doing you dirty. Like 3rd party apps that sell your stocks. Or having it on a device with internet can get you phished.