Bitcoin or Gold? What would you pick?
If given a choice to walk away with either Bitcoin gold of equivalent value, what would you pick?
Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you…
Gold has the trust of maybe 5000 years of world tradition.
Actually, since gold is very rare also in the universe (as other heavy elements, can only be produce in supernovas or even perhaps only on the collision of neutron stars), if there are other intelligent species out there, I bet they will also consider gold as precious.
However, I would chose clearly bitcoin. Unless there is huge inflation, Gold has little to promised. Bitcoin is full of possibilities.
Bitcoin Gold? I would choose for the bitcoin, it has a better future in my opinion and the halving is also coming, if you want to invest long term you should gold because gold is one of the best things you can invest in if everything will collapse you still got gold.
If you invest in the bitcoin you should mostly do it when the price is low and there is something coming that will rise the price if you think that is going to happen invest.
There won’t be any cash for someone to give you in exchange for your gold on the black market (at least in developed country markets)… not in terms of cash you can spend or transport in large amounts…
…you think you can operate in a country such as the Philippines which probably can’t eliminate cash entirely, except if you realize that transacting in gold here in Mindanao is a good way to lose a limb, dead, kidnapped, or at least out-of-pocket. I can’t even find a place to take a shit where someone wasn’t watching me from behind a banana tree (the population density is high and the people are very curious at everything you do). Word gets around real fast (that foreigner has gold or cash).
Nobody wants your coins here. They will pay melt value (trust me I tried).
Bitcoin Gold? The issue is liquidity (and also spreads go sky high in black markets with low liquidity). There are many sellers here (the miners), but very few buyers. Most of the gold is bought for export. I know the guy that runs a small refinery in Manila and he told me he can’t even do business in Mindanao because it is controlled by local politicians. Also his business was basically destroyed as the larger players in Manila squeezed him by instituting a 5% tax which they don’t pay but he can’t find a way to avoid paying entirely. He had to diversify into mining exploration.
Bitcoin Gold? I think you can store some in gold that you bury some where and wait for this coming crisis to abate, but if you are expecting to sell gold during the crisis to pay living expenses, then I think you will discover that you end up having to do it in a legal way and pay very high taxes (which I think will be much higher by then). And I think the larger problem may be the government will just confiscate it when you try to sell stating that you were not able to properly document your purchases and the gold was not declared all along or was excessive in violation of some anti-terrorism and AML laws.
Gold was very useful in the past when you could carry it with you on a plane or boat, but now the governments are confiscating it at the borders and transport hubs.
As you can read below, the-powers-that-be have not yet put in force their full array of plans. They are organizing for the big capital controls push which will accelerate from 2017 to 2020.