Quote from: markj113 on February 02, 2019, 12:01:14 PM

Quote from: deisik on February 02, 2019, 11:43:48 AM

Quote from: Unblock_news on January 30, 2019, 03:01:08 AM

Bitcoin investors are now moving to gold citing the cryptocurrency’s issues with liquidity and store of value

There is no way that Bitcoin investors are going to switch over to gold

I can tell you that even without reading the piece you linked to. I can even go so far as to claim that it is a complete junk. Why am I so sure? The reason is surprisingly simple. Because Bitcoin and gold are assets which are on the opposite ends of the investment landscape (with many other asset classes in between). People invest in gold if they want to save the wealth they have already accumulated, while people who invest in Bitcoin are speculators and looking to multiply that wealth or create it in the first place. So it is two entirely different groups of people with completely different goals in mind, and there is not a single chance for the massive switch-over between them. It simply doesn't happen in real life

So what about people like myself that speculated in bitcoin, made a decent profit then cashed out the lot into gold to stabilise the gains made?

You won't believe me but I expected exactly you to come up with this "rebuttal"

Though not so fast, of course. Actually, you are a gold bug (which you seem to admit yourself), so it is no surprise that you would convert your Bitcoin gains into gold as you have likely been doing before (thus nothing has changed). And I would do the same if I were you. But obviously, I'm not you, and neither are the majority of the Bitcoin crowd here. So you fall into the category of those who have already accumulated enough wealth to make it reasonable and practical to walk this route and probably have already been doing that all the time

But this is not the case with the rest of the pack, most of which are hapless and hopeless bagholders anyway. They don't even think of gold as a viable option as they have no wealth or gains to save. So their only choice is to keep holding and hope for the best. Gold is not for them