I personally don't like gold because it's actually fairly abundant with limited usefulness... much of it is held in big vaults by large governments. Silver is more useful and less abundant and I prefer that. Plus lower price is easier to barter with 90% US circulated silver dimes for example.
I prefer minor metals and platinum group metals though a lot of them have already made their moves. Tellurium is one that made big moves, but not one I was willing to work with because of it's side effects should you happen to come in contact with it and have it absorbed into your body... a nasty garlic type body odor that can last for weeks or months!
Here's a fun one to play around with:
http://www.disappearingspoons.com/
Topic: Hedge fund boss: Bitcoin over gold? Are you kidding? - page 3. (Read 3471 times)
People think that gold is useful. They think ibm will come to them with a million dollars and not spend the money developing an alternative. Same with those catalyst metals.
I never understood economists view of Bitcoin.
Gold is completely useless to me. I can't buy anything with gold. Nobody accepts it as payment.
They also use the word bubble a lot. Apparently they don't see the difference of bitcoins and the price of bitcoins.
The price of bitcoins can be a bubble. The technology behind bitcoin can not.
I also think they underestimate how fed up people are with government controlled currencies. They certainly did a controlled dive into the financial crisis.
Same with so called trusted services. If a service is "trusted", it has backdoors. People are not the horde of sheep they thought they were, and now they act surprised.
Gold is completely useless to me. I can't buy anything with gold. Nobody accepts it as payment.
They also use the word bubble a lot. Apparently they don't see the difference of bitcoins and the price of bitcoins.
The price of bitcoins can be a bubble. The technology behind bitcoin can not.
I also think they underestimate how fed up people are with government controlled currencies. They certainly did a controlled dive into the financial crisis.
Same with so called trusted services. If a service is "trusted", it has backdoors. People are not the horde of sheep they thought they were, and now they act surprised.
He's quaking
Hedge fund boss: Bitcoin over gold? Are you kidding?
Hedge fund manager Paul Singer is "shocked" by Bitcoin's rise, especially given gold's fall.
"There is no more reason to believe that bitcoin will stand the test of time than that governments will protect the value of government-created money, although bitcoin is newer and we always look at babies with hope," Singer wrote in a letter to investors of his $23.3 billion Elliott Management on Jan. 27.
"If you want an alternative currency, check out gold. It has stood the test of thousands of years as a store of value and medium of exchange," Singer added.
http://www.usatoday.com/story/money/personalfinance/2014/02/01/cnbc-bitcoin-gold/5038763/
Hedge fund manager Paul Singer is "shocked" by Bitcoin's rise, especially given gold's fall.
"There is no more reason to believe that bitcoin will stand the test of time than that governments will protect the value of government-created money, although bitcoin is newer and we always look at babies with hope," Singer wrote in a letter to investors of his $23.3 billion Elliott Management on Jan. 27.
"If you want an alternative currency, check out gold. It has stood the test of thousands of years as a store of value and medium of exchange," Singer added.
http://www.usatoday.com/story/money/personalfinance/2014/02/01/cnbc-bitcoin-gold/5038763/
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