Bitcoin Forum

Statement 1: "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

Statement 2: "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/

And gold is great for sending across the Internet.

I'm sure Singer can send it across. I wonder, how smart he and his clients are. Now, I believe fact told my saint- Money has nothing to do with success or intelligence.

http://www.presidency.ucsb.edu/ws/index.php?pid=14611

Imagine this:
;D

Haha. Gold is great, but Bitcoin is even greater.

I think Bitcoin is a much better investment opportunity, and I'm betting soon I'll be able to find more stores that will accept Bitcoin than gold.

The guy sells gold. No complaints there. I like gold. I buy gold. But it's like asking a scientist funded by the ipcc if global warming is real. Ask any scientist not funded by the ipcc about global warming and they will tell you to look out the fucking window and stop being a moron.

Gold still works during a power cut.

I think he really wants people to invest in gold investment "instruments" not actual gold. That way people are more easily fleeced. Investors actually own no gold and the hedge fund can sell much more than they own.

So does handwriting receipts and stock accounting.

And candles and gaslamps.

And counting on your fingers, that still works too.

https://bitcointalk.org/index.php?topic=68655.msg4035542#msg4035542 (https://bitcointalk.org/index.php?topic=68655.msg4035542#msg4035542)

... i mean really ...  ::)

He makes valid points about gold, don't disagree with him there.

It seems on bitcoin he only sees as something that's anti gov/banking (the libertarin views/orgins or bitcoin) but might not undertand the benefits it offers in using money online, international remiitance, or microtransactions. Also I think he might fail to realize that bitcoin most likely will be accepted at a lot more places than gold can or will ever be, giving bitcoin some extra value imo.

This is what goldbugs need to address squarely and fairly. Gold is effectively being demonetised because of Gresham's Law.

Bitcoin, as a P2P transaction network with ease of use and implementation, can turn Gresham's Law on its head and inside out.

If your money is not accepted many places it loses it's 'moneyness'.

Bitcoin is even greater than gold dude!  ;D

Good thing I can put my Gold in my pocket and scan a QR code, transact huge sums of it in 10 minutes or less, and give it my friends and families in envelopes as gifts....wait, you can't?!!?   :-[

Yea, you can stick to your gold guy.   ;D

Comment after Wright brothers flight: "This motorized flying thing is a fad,  Instead, look at purchasing air balloons, which have stood the test of time"