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Living the dream, Elwar. I agree that Bitcoin is much more practical than gold for international travelers. I think that the type of person who hoards gold bars is also the type who would buy a house in Iowa.
From the show:
"Even the people in Bitcoin aren't going to say it's better than gold"
I travel a lot, move a lot and consider myself more of a global citizen where I do not plan on living in one place for too long. So I live in a temporary apartment, I can fit everything I own in a carry on and backpack.
If I had as much gold as I do in Bitcoin I would have so much difficulty doing anything. This past summer I traveled with all of my belongings from Afghanistan to Dubai to the US then Turkey and finally settling in Germany. I carried everything I own to each location. I could not imagine going through so many airports with over 100 oz of gold. The weight alone would have been difficult, going through security would be crazy and the customs would be tedious. I would worry about someone at every border taking my gold, staying in hotels I would be paranoid about leaving the room (they could steal my laptop with my private keys but they would need 5 different difficult passwords to get to my bitcoins so that getting stolen would only inconvenience me).
I'm in an apartment where the landlord comes in and cleans once a week. I can't imagine hiding a bunch of gold in here. Or going into the woods and burying it. I have no idea how to get a German safety deposit box if I wanted to go that route.
I like gold but there is no way I can buy any. Sure, it is useful in computers until they figure out something cheaper.
I spend my bitcoins. I get paid in dollars but spend euros so being able to use bitwage.co to get paid in bitcoins and spend it for anything online and sell it for euros locally is much better than somehow getting paid in dollars then buying gold then looking for a way to sell gold locally or somehow spend it online.
I can pool my bitcoins with other people and vote anonymously, securely and transparently using the blockchain. To do that with gold would require some sort of gathering in a room, maybe some blindfolds and secret marks on each coin...I don't know how it could be done with gold.
I never thought gold was very fashionably pretty, I just think of a 70s pimp or Mr. T when I think of it as jewelry. I much prefer the look of silver.
So...
tl;dr "Bitcoin is better than gold." -Elwar
"Even the people in Bitcoin aren't going to say it's better than gold"
I travel a lot, move a lot and consider myself more of a global citizen where I do not plan on living in one place for too long. So I live in a temporary apartment, I can fit everything I own in a carry on and backpack.
If I had as much gold as I do in Bitcoin I would have so much difficulty doing anything. This past summer I traveled with all of my belongings from Afghanistan to Dubai to the US then Turkey and finally settling in Germany. I carried everything I own to each location. I could not imagine going through so many airports with over 100 oz of gold. The weight alone would have been difficult, going through security would be crazy and the customs would be tedious. I would worry about someone at every border taking my gold, staying in hotels I would be paranoid about leaving the room (they could steal my laptop with my private keys but they would need 5 different difficult passwords to get to my bitcoins so that getting stolen would only inconvenience me).
I'm in an apartment where the landlord comes in and cleans once a week. I can't imagine hiding a bunch of gold in here. Or going into the woods and burying it. I have no idea how to get a German safety deposit box if I wanted to go that route.
I like gold but there is no way I can buy any. Sure, it is useful in computers until they figure out something cheaper.
I spend my bitcoins. I get paid in dollars but spend euros so being able to use bitwage.co to get paid in bitcoins and spend it for anything online and sell it for euros locally is much better than somehow getting paid in dollars then buying gold then looking for a way to sell gold locally or somehow spend it online.
I can pool my bitcoins with other people and vote anonymously, securely and transparently using the blockchain. To do that with gold would require some sort of gathering in a room, maybe some blindfolds and secret marks on each coin...I don't know how it could be done with gold.
I never thought gold was very fashionably pretty, I just think of a 70s pimp or Mr. T when I think of it as jewelry. I much prefer the look of silver.
So...
tl;dr "Bitcoin is better than gold." -Elwar
Saying Bitcoin is useful is true and Schiff is wrong when he says Bitcoin is not useful and allows to do things that no other currency or security can do.
But when you criticise Gold saying it could be replaced in electronics or you don't like it as jewelry, you are doing the same thing Schiff is doing with Bitcoin. Gold is great, it has been a mean of exchange for thousands of years and it's the best metal in terms of properties. It will not be replaced easily, far less easily than Bitcoin.
I could do like you and say : "how can i use gold to make satellites or computers? Can you melt and shape easily bitcoin? Is it strong and resistant to water?"...
It is not gold or bitcoin; they are quite different in the sense that they have different qualities.
When the US Dollar will lose most its value in a short period of time, owning gold or bitcoin should be great.
