@dinofelis regarding our discussion of the utility of Bitcoin:
The only purpose of metals as currency is to remove counter party risk while also satisfying a few other traits of money such as divisibility, durability, portability, fungibility, etc. Bitcoin doesn't actually remove counter party risk at all. It's also not fungible and any crypto that's not fungible is a permissioned ledger by default. Nor is it a valid store of generational wealth like gold and silver because the entire thing can just blow up at random.
Therefore, the only thing bitcoin really does better is portability and a bit better granularity (with the added inconvenience of giant technical burden). In current state you have to be flat out lying to say bitcoin beats gold and silver as money. It's clearly inferior and there is no evidence that relationship will change anytime soon (beyond wild claims by Anonymintcoin). Bitcoin is only a currency and gold and silver are money; there's a big difference.
The market is telling you that Bitcoin is the reserve currency of the experimentation that will unleash all that utility that crypto-currency and blockchains can do which precious metals never can. Bitcoin is now at parity with gold. The pattern of Android below is what crypto is going to do relative to precious metals:
Cryptocurrency offers more utility than gold can ever imagine
The only purpose of metals as currency is to remove counter party risk while also satisfying a few other traits of money such as divisibility, durability, portability, fungibility, etc. Bitcoin doesn't actually remove counter party risk at all. It's also not fungible and any crypto that's not fungible is a permissioned ledger by default. Nor is it a valid store of generational wealth like gold and silver because the entire thing can just blow up at random.
Therefore, the only thing bitcoin really does better is portability and a bit better granularity (with the added inconvenience of giant technical burden). In current state you have to be flat out lying to say bitcoin beats gold and silver as money. It's clearly inferior and there is no evidence that relationship will change anytime soon (beyond wild claims by Anonymintcoin). Bitcoin is only a currency and gold and silver are money; there's a big difference.
The market is telling you that Bitcoin is the reserve currency of the experimentation that will unleash all that utility that crypto-currency and blockchains can do which precious metals never can. Bitcoin is now at parity with gold. The pattern of Android below is what crypto is going to do relative to precious metals:
He is like 3-4 years behind any decent competition