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How many people do you know with savings in physical gold? How big do you think the consumer market is for that? The major holders of gold bullion are banks a
by aidanlister 8y ago
How many people do you know with savings in physical gold? How big do you think the consumer market is for that?
The major holders of gold bullion are banks and governments – they are not going to pile in to a pyramid scheme style system where by a small number of early adopters become worth the GDP of a small country.
- fastball 8y agoNobody has savings in physical gold because it's a PITA to acquire and store. Digital gold obviously doesn't suffer from these problems.
- jcranmer 8y agoAfter all, it's not like people breaking into computers and stealing stuff from them is anywhere near as common as people breaking into houses or bank vaults.
- fastball 8y agoI don't have the stats, but I actually would guess that robbery is way more common than hacking personal computers which results in the retrieval of useful information.
- zaphar 8y agoI make it a habit not to bet. But if I were a betting man I'd take you up on that. Hacking personal computers is a huge blackmarket industry and it costs society a lot of money. The average person (i.e. not you or me) don't even know they've been hacked and are just joined to some botnet without their knowledge. But a hacked computer is a hacked computer and if the hacker want's the bitcoin wallet they can get it. Good luck getting the bitcoin back after that.
- fastball 8y agoHardware wallets?