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RE: Is Bitcoin a Better Store of Value than Gold?

in #bitcoin6 years ago

I would always prefer gold over bitcoin for a very simple reason. The question asked here is which is better for investing? Gold is an asset which can never go to zero. Bitcoin is a cryptocurrency which is not backed by any asset. The value of bitcoin can easily fluctuate south. Gold is a safe haven when it comes to uncertainties. It is still at the lows and has the potential to move up. Silver for that matter is an excellent investment.

Bitcoin is a hype. I understand the importance of Blockchain technology and I would invest in the technology, not in the products. Bitcoin is a gamble and no doubt it is surging its way up and may go higher but at the end of the day, there is no logic behind this rally.

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Appreciate your comments. There are certainly risks with Bitcoin but I do believe we will see mass adoption and it will turn into a safe haven like gold or other commodities. I like silver too!