[2014-08-24] Stability and Taxes: Could Bitcoin Be a Replacement for Gold?

[Kprawn]

http://www.coindesk.com/stability-taxes-bitcoin-replacement-gold/

Mr. anti-bitcoin is asking people to buy his gold.  

I think some of us, must try to go to his office and ask him if we can touch the gold you have bought with them. You will be escorted out the building, for being crazy.

It's a myth ...The gold you invest in, is on paper. {For those people, who says - "At least I can touch the thing I invest in"

Go touch your paper wallet, it's way easier, than those pipe dreams you are believing in.

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[Xiaoxiao]

There is a new coin fully backed by gold i think. Forgot what its called.  Bitcoin is the new digital gold though.

[cryptofan5]

There is a new coin fully backed by gold i think. Forgot what its called.  Bitcoin is the new digital gold though.

To have something fully backed by gold you actually need to keep gold in secure storage. All previous attempts to make a gold backed currency have failed. Even the US government has abandoned the idea long time ago in favor of just printing money :-)

[notthematrix]

There is a new coin fully backed by gold i think. Forgot what its called.  Bitcoin is the new digital gold though.

To have something fully backed by gold you actually need to keep gold in secure storage. All previous attempts to make a gold backed currency have failed. Even the US government has abandoned the idea long time ago in favor of just printing money :-)

yep its way  easyer to keep bitcoins secure with multiple siganture's key then then keeping gold secure.

[cr1776]

There is a new coin fully backed by gold i think. Forgot what its called.  Bitcoin is the new digital gold though.

The problem with a gold-backed coin is that it has to be stored somewhere centralized making it open to seizure like Liberty Dollar was.  As such it is somewhat at odds with the distributed nature of bitcoin and other cryptos.  ;-)


(see http://en.wikipedia.org/wiki/Liberty_Dollar)

[wanellane]

Gold will always have value. But just like the dollar, it's time as the standard of value is coming to an end. By the end of the decade, BTC will be the new global standard of value.

[jolipenria]

Bitcoin has MUCH more value as a transactional means to purchase goods and services. And long-term, BTC will eclipse gold in value. The world's first global currency will have value to every person, and business, on the planet for exchanging remittances or goods and services worldwide. Gold does not. It is what it is, a precious metal. It cannot do anything else but be that, and have some value in manufacturing industries.