How does the hoarding of ferrous metals like Steel, Carbon Steel, Alloy Steel, Cast Iron, Wrought Iron, Aluminum, Copper and Lead have anything to do with Bitcoin? You know Bitcoin cannot rust and it takes no physical storage space and you do not have to bother with rodents being attracted to your storage facility, because you have large amounts of items that are stored over a long period.
You are also restricted, based on the size of this storage facility. There are no limit to the amount of bitcoins and the value of these bitcoins that you can hoard on a single piece of paper.
Agree, that's harder than expected, but storing millions of dollars bitcoin securely is very easy and I think in terms of investment, bitcoin is clearly better asset now.
Well, I will not define it as an asset, even though Wikipedia says in financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset.
I tell you, if you approach most people on the street and you ask them if they would rather store 1 million dollar worth of bitcoins in a paper wallet or a whole warehouse full of metals, then most might say that they would opt for the paper wallet.
It is much less trouble and effort to store a paper wallet.
Getting people to understand bitcoin in general can be difficult especially those
who are already skeptical and who dont want to move away from conventional
FIAT saving.
Long term FIAT saving is counter productive because in the long
term the value is falling due to inflation, $100 in 20 years time will buy less than
today. There is the option to invest in special saving schemes for fixed terms in
banks these have good returns but come with risk which means placing a degree
of trust in the banks - something which goes against the idea of bitcoin.
There are other assets which can be good for a long term saving, books, numismatics,
Vinyl records or anything with a supply and demand feature. These can all be
included in a long term saving plan portfolio including bitcoin.
And they are not coing to take up massive amounts of space