For those of you who think that Bitcoin is unhackable I urge you to think again.
I am not not talking about traditional hacking as in a hack against the core software.
I am talking about perception.
HACK:
http://www.dictionary.com/browse/hacked?s=tto damage or injure by crude, harsh, or insensitive treatment; mutilate; mangle:
Many people overlook this unprotected area of Bitcoin and may not have contingencies planned out accordingly.
These are just a few examples of how Bitcoin's image gets hacked.
http://www.wsj.com/articles/in-the-bitcoin-era-ransomware-attacks-surge-1471616632http://money.cnn.com/2016/08/03/technology/bitcoin-exchange-bitfinex-hacked/http://www.coindesk.com/european-union-proposes-tighter-bitcoin-controls-panama-papers-response/http://www.coindesk.com/us-treasury-bitcoins-use-to-fund-terrorism-remains-unclear/http://www.smh.com.au/world/australia-to-regulate-bitcoin-under-counterterrorism-finance-laws-20160808-gqnne2.htmlhttp://www.defenseone.com/threats/2015/02/terrorism-finance-trackers-worry-isis-already-using-bitcoin/105345/Remember that Bitcoin's inherent disruptive nature (technology disruptor) adds to the already uncertain global financial stage.
With this in mind I would like to point out an alternative for you to consider when Bitcoin's image is under attack.
Gold and silver has been around for a long long time and many of you are already aware of its existence in bullion form.
However, some overlook the fact that gold and silver provide the physical backbone of Bitcoin's existence.
That equipment you use to mine Bitcoin contains gold and silver.
That PC, tablet, or smart phone you are using to make transactions with or make a trade contain gold and silver.
In the form of gold plated contacts down to that Rohs compliant solder which contains one of the best conductors in the world (silver) precious metals are there to help make Bitcoin tick.
Without the precious metals and a host of many other raw materials Bitcoin obviously would be nonexistent.
Unlike the other raw materials, precious metals has been monetized for thousands of years.
They have always been considered a safe haven in times of uncertainty.
Here are just a few of the perks of expanding your portfolio into precious metals:-Gold and silver has been backed by governments around the world since the 1980's. The United States, Canada, Mexico, Australia, China, Great Britain, and Austria are all countries that have put into law that they must provide it's citizens with gold and silver bullion as needed by demand.
-Precious metals can be used in Individual Retirement Accounts (
https://en.wikipedia.org/wiki/Gold_IRA)
-You can protect your hard earned Bitcoin profits from exchange related hacks that cause the Bitcoin price to plummet unexpectedly.
If you are interested in exchanging Bitcoin for precious metals in attempt to solidify your investment portfolio do a google search and you will be sure to find some reputable dealers that offer up such a service.
https://www.google.com/#q=buy+gold+with+bitcoinOnly a fool puts his/her eggs in one basket.
Well, they have been trying to "hack" Bitcoin ever since the media portrayed it to be this "anonymous" internet money that cannot be traced back when the first stories about the Silkroad hit the news. Yet here it still stands today.
But I agree with you that it would not be a wise investment strategy to put all his/her eggs in one basket and your suggestion to invest in gold is also a good and wise advice. That said it does not mean that we should stop accumulating Bitcoins. Maybe at these prices it would be bad but if it goes down to $400? Then I will not mind buying more.