@pitham1. The link works for me. The question remains the same. Where is the data that would prove that bitcoin is cannibalizing gold? What if the gold traders are now buying another sound investment like land or maybe they are holding cash to remain liquid?
Tom Lee must have invested a lot on bitcoin and has turned shill.
Your problem is where you think of Bitcoin as investment, if you think like that you'll definitely be disappointed, what's wrong with the real and true concept behind it? how come you never think of it as a digital currency? comparing gold with Bitcoin is wrong, they are both different things entirely, you can never carry gold on your phone, you can never buy a a security guard with a vault when you are buying gold, you'll have to pay for them separately.
However gold and btc are very much alike, if you ever want to hide your transactions and activity you could use a mixer, with gold you could melt them and both comes with some fees.
You should consider mining as investment and talk about risks in that area, unlike gold mining Bitcoin is not exclusively for governments only having the authority to mine.
I also wouldn't stay solely stuck with btc, when this idea came out reverse engineering started and there are actually a few good coins other than btc with the same potentials and with less limitations.
