[2014-08-01] The Bitcoin Crowd Reaches Out to the Gold Bugs

[epere]

http://www.businessweek.com/articles/2014-07-30/ripple-and-anthem-vault-combine-gold-with-bitcoin-style-currency

On the spectrum of currency ideologues, gold bugs and Bitcoin enthusiasts occupy equal but opposite positions. They’re both suspicious that governments are going to meddle around with normal money so much that it becomes useless—it’s just that one group thinks math is the antidote and the other believes in hoarding metal bars.

[1715373550]

1715373550

[1715373550]

1715373550

[bitsmichel]

http://www.businessweek.com/articles/2014-07-30/ripple-and-anthem-vault-combine-gold-with-bitcoin-style-currency

On the spectrum of currency ideologues, gold bugs and Bitcoin enthusiasts occupy equal but opposite positions. They’re both suspicious that governments are going to meddle around with normal money so much that it becomes useless—it’s just that one group thinks math is the antidote and the other believes in hoarding metal bars.

Governments are already meddling around with normal money, inflation keeps getting stronger. I do not think normal money will be useless soon, but the prices will rise and the money will have value.  Have a look at this graph:
http://inflationdata.com/Inflation/images/charts/Inflation_Trends/cumulative_inflation.jpg
The bitcoin price on the other hand will keep rising because it's deflationary.

[howardb]

http://www.businessweek.com/articles/2014-07-30/ripple-and-anthem-vault-combine-gold-with-bitcoin-style-currency

On the spectrum of currency ideologues, gold bugs and Bitcoin enthusiasts occupy equal but opposite positions. They’re both suspicious that governments are going to meddle around with normal money so much that it becomes useless—it’s just that one group thinks math is the antidote and the other believes in hoarding metal bars.

It's not an either/or, I happen to think that hoarding bitcoin AND gold is a great hedge against the insanity that passes for fiscal and monetary policy these days. Mind you I would also have a bunker and two years food stockpiled if I could!