Speaking of anonymity, I hate it when Radio Shack doesn't want to deal with me anonymously. I'm waving cash at them and they don't want it. Last time I was there they literally refused my cash because I wouldn't give them my cell phone number. No skin off my back, I just ordered the parts I needed on line at a fraction of the price at Radio Shack. I just had to wait a few days for shipping.
As far as gold goes: Gold is fiat. It has low use value, it's value comes from people telling you it has value, same as USD or Euros or Pesos.
I agree with you on the land thing.
Topic: Bitcoin vs Gold vs Cash - page 3. (Read 2988 times)
So, gold and cash have some good and some bad properties.
Gold:
good - only a limited amount exists, hence protection from inflation
good - has intrinsic value (at least to some degree)
bad - difficult to transfer, divide, verify that it's authentic, hence higher transaction costs
Cash:
good - you can give it to anyone anonymously. It just works. i.e. the definition of "currency". Near-zero transaction costs
bad - loses its value due to inflation
In a sense, bitcoin is the ultimate combination of the good parts of gold and cash. It has the intrinsic value of gold (nobody can create more of it, so the value is permanent) combined with the intrinsic value of cash (near-instantly transferable to whomever in any amount you wish - as an extra bonus, it works worldwide!).
Of course, there is the risk that bitcoin is worth nothing tomorrow. But how big is it?
I'm going with Twain: "Buy land. They're not making it anymore." At least by the year 2140... (Imagine if you got in when they were making the first patches of land)
Gold:
good - only a limited amount exists, hence protection from inflation
good - has intrinsic value (at least to some degree)
bad - difficult to transfer, divide, verify that it's authentic, hence higher transaction costs
Cash:
good - you can give it to anyone anonymously. It just works. i.e. the definition of "currency". Near-zero transaction costs
bad - loses its value due to inflation
In a sense, bitcoin is the ultimate combination of the good parts of gold and cash. It has the intrinsic value of gold (nobody can create more of it, so the value is permanent) combined with the intrinsic value of cash (near-instantly transferable to whomever in any amount you wish - as an extra bonus, it works worldwide!).
Of course, there is the risk that bitcoin is worth nothing tomorrow. But how big is it?
I'm going with Twain: "Buy land. They're not making it anymore." At least by the year 2140... (Imagine if you got in when they were making the first patches of land)
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