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July 18, 2011, 05:19:30 PM |
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He should have purchased from a reputable dealer or performed an assay. This doesn't mean Bitcoin is "superior" to precious metals. With silver, I can hold a tangible currency in my hand, trade it without Internet connectivity, etc. I can't lose it due to data corruption or a virus, and if I want, I can melt it down into something useful.
Don't get me wrong, I'm all for Bitcoin, but it has its ups (e.g. can't counterfeit them) and downs just like anything else. Both have their place.
In the end, silver is money (i.e. a store of value) and Bitcoin is a currency (i.e. a convenient means of exchange).
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