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I'm a strong advocate of gold and silver used as money and wealth preservation, and I see Bitcoin having very nice synergies with the precious metals. They are complimentary asset classes, and it's a good sign to see die-hard gold bugs thinking openly about Bitcoin.
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I also am delighted to see the likes of Kaiser mention and contemplate Bitcoin.
I think of Gold as pretty much the ultimate store of wealth (based almost exclusively on it's history rather than any hokus-pokus magical properties and what-not.) It can be used as a currency in a pinch, and works fine for that in most situations, but is awfully cumbersome in the modern international and increasingly fascist world.
The nature of Bitcoin is, in my mind, not particularly clear at this point, but one scenerio that I could see working is for Bitcoin to be relegated to a pure currency in that it is used as a transmission medium almost exclusively.
A very good analogy would be to think about electricity. The energy is stored in a suitable medium (chemical, gravity, etc) and converted to electricity (electro-motive potential) only for transmission and conversion to useful work.
I would be disappointed at this outcome because I wish to hold some net worth in BTC and be able to access it in almost any scenerio, but I'd take it as a second-best because of it's extremely good usability even in this limited role, and because I can still sit on a volatile pool of saving vs. a more stable one if need be.
