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Originally Posted by Table 5
When's the last time you bought a pizza with gold? Or bought anything with gold? It's just as terrible for day to day use...perhaps even more so.
Both gold and bitcoin are cumbersome for day to day transactions...but what they ARE good at is wealth preservation and as a hedge against fiat currency depreciation. If you're the type of person who is suspicious of our governments and the non-stop printing happening around the world, I don't see why you wouldn't have a bit of both.
I do see the risk with Bitcoin, but I am also seeing way too many smart people, and more importantly corporations, getting on board the Bitcoin train these days. If PayPal, Square, Fidelity etc are seeing it as part of their future, to me that's a sign that its risks are decreasing, and it's becoming entrenched in our financial system.
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Of course they are getting on board, who wouldn't want to fleece people out of their money in exchange for a digital currency with no physical backing and the ability to swing the value to suit their agenda.
No one could ever have guessed the value would skyrocket after the US Government seized 1B worth of bitcoin I mean how can I sell something for 1B without inflating it before selling it to make it look like a steal.