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Gold bars are only a store of value if they're in your possession. A gold bar in the hand is worth two in the bush as they say. To be a good store of value its
by simonsarris 9y ago
Gold bars are only a store of value if they're in your possession. A gold bar in the hand is worth two in the bush as they say.
To be a good store of value its not enough that it exists and people value it, you have to be able to call upon it when you need it. That's where its back to approximating currency, and where Bitcoin's weakest link seems to be. This is probably just the beginning of the bad news.
King George used to lay claim to every pine in North America, to be called upon when he needed them for ship masts. For some reason or another he couldn't do that anymore. Historical examples abound, if you look for them, and they're not tulips: https://hackernoon.com/the-guns-of-bitcoin-1f779309a718 https://hackernoon.com/the-guns-of-bitcoin-1f779309a718 (disclaimer: I wrote that, which dances around a few historical reasons why bitcoin's value might not be so peachy)