Interesting..
Coinbase: Bitcoin Is Superior to GoldA report published by leading U.S.-based crypto exchange, Coinbase, has argued that Bitcoin (BTC) offers a distinct advantage over gold. They state that Bitcoin is afforded these advantages by its lack of dependence on physical supply chains.
“Bitcoin’s rate of new supply is ~3.6% per year and will soon drop to ~1.7% on May 12th, setting it on par with gold’s historic scarcity. As gold miners and refineries have gone offline, Bitcoin’s global mining ecosystem seems resilient according to hash rate measurements in recent days.”
Source:
http://www.xbt.money/coinbase-bitcoin-is-superior-to-gold/?utm_source=dlvr.it&utm_medium=twitterThanks for that article, Lucky... I like that comparing of assets by picking a timeline and starting from a baseline of 0%
I do have a bit of a problem with starting from the beginning of this year, rather than looking at the past few years, such as starting from early 2017 - as I mentioned in my earlier post.
Surely, I understand that there can be some relevance to starting asset comparisons from the beginning of this year, and in terms of short term asset class reactions to this pandemic and the various ways that the pandemic has been impacting the economy... But jeez... 2020 only has 4 completed months in it and we barely started on the 5th month and we are hardly even into this pandemic or its various impacts, even though politicians seem to continuously spouting out regarding how we have gotten past the initial curve, etc. etc. etc.
Yeah, maybe we have gotten past some ideas of social distancing and figuring out ways to treat the virus, but even from my lame ass layman's perspective, there are way too many unknown unknowns, and I am not going to believe any politicians who either already have shown to have a history of lying, and even when my lying eyes are seeing facts that seem to contradict with the lying words coming out of the mouths of various politicians who are continuing to paint exaggerated pictures regarding getting back to normal - even with the continued existence of a lot of unknown unknowns.
For example, easy shit... the manufacturing of n95 masks or something like that for the general population rather than pieces of cloth in front of our face.. you would think that modern industrial societies would be able to figure out ways to distribute those kinds of seemingly basic professionally made PPE to the population.. and they cannot even figure out the basic shit, and we are supposed to believe them that we are getting past the curve?
Don't get me wrong... I would really like the most rosey of limited negative economic impact scenarios to play out.. and we could just get back to a kind of "normal," and yet a central question for those of us who are either HODLing bitcoin or continuing to accumulate bitcoin
(would be nice if mindrust could join us in as meaningful way in this endeavor) continues to be whether honey badger gives any shits... about these seemingly extreme exogenous events. I am NOT trying to proclaim that bitcoin does not live in the real world, because it does, but at the same time, bitcoin remains in real low levels of current adoption, so it seems so likely to retain some resilience to being able to ongoingly grow, and maybe even stick with something close to the stock to model curve while traditional assets continue to have existential crises that involve really having to deal with the real world pumpening and abuse that they have experienced over the past 30 years or more... based on ever increasing sloppy monetary policy that more and more emphasizes that the solution to any problem is money printer go brrrrrrr..