Quote from: sidhujag on March 09, 2017, 08:32:05 PM

Quote from: r0ach on March 09, 2017, 08:14:47 PM

Quote from: sidhujag on March 09, 2017, 06:18:13 PM

which is also wrong because it being an ideal form of currency has already passed, thats how the market works

I dunno what you're smoking but that's not how the market works at all. The market works by coercion and has nothing to do with what's better or not. What's theoretically the best on a drawing board doesn't factor into anything. And I also think you are making an extreme error calling bitcoin an ideal form of money, when I don't think it's really even decentralized in the first place, nor will it sufficiently scale, so the entire thing is probably just a Rube Goldberg machine that's pointless.

How can you call such a thing "ideal money"? It's ridiculous. Current cryptocurrency does not compete against metals whatsoever, and there's a very large chance that it might be impossible for them to do so. They will always be Rube Goldberg machines - the equivalent of show and tell science class projects scaled up from middle school to grown man level, but still just as equally not groundbreaking and pointless.

Market does not work by coercion i agree sometimes simple is better ala web stack sucks today but over time an ideal form of web technology will take over perhaps something like ipfs etc.. in the same way money will take a new shape as markets are always forward looking and not backwards.. any manipulation or coercion usually leads to bigger corrections and recessions.. see boj and snb.
Cryptocurrency offers more utility than gold can ever imagine and thus it is backwards to assume market will readjust to base itself on a metal that is just thought of as a safe haven.

Guys, hold both.

Since it is not clear at all that Bitcoin will survive long-term (maybe not even for 2017-2018 if the developers & miners let the problems destroy it), it is not wise to hold just BTC.

And since we do not know, exactly know, what the fate of gold is, it is not wise to hold just gold either.

Bitcoin offers a realistic possibility of a huge price movement up, but it is risky...

Gold offers about as good a financial insurance (safe haven) as exists, but the possible/probable upward price trajectory is not as dramatic (unless FOFOA is right).

For that matter, smart diversification suggests that holding some of stocks, bonds, real estate and other conventional assets is recommended. Maybe less so now than earlier, but still smart if you have the money.

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I am liking more and more iamnotback's suggestion to LEARN in the likely upcoming Knowledge Age.