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> Having said that, with crypto now all but finished Bitcoin will come out of this stronger than gold. It got the wrecked for the same reasons gold and silver

> Having said that, with crypto now all but finished Bitcoin will come out of this stronger than gold. It got the wrecked for the same reasons gold and silver did. People needed funds for margin calls and safe reserves, and bitcoin markets were already far less liquid than gold and silver. An emerging currency can't help but be volatile. Coming out of this, it will explode for the same reasons. It's less liquid, and there will be less supply to feed demand when people go for 'safe' assets. Young people have no trust in gold or silver. It's another metal with no intrinsic value other than being heavy, inconvenient to spend, and really inconvenient to transfer across borders. Bitcoin is at least half a step better than that, and a half step ahead of any other cryptocurrency competitor when it comes to institutional and retail availability.

vkou 7y ago
> Bitcoin will come out of this stronger than gold. Not when the Tether scam fully unravels.
- xorcist 7y ago
  If stablecoins would turn out to be fraudulent, surely what little they can be traded against would become more expensive?
  - vkou 7y ago
    The reason BTC has value for a lot of people is because stablecoins exist.
hdjejdjd 7y ago
Yeah everything is good for bitcoin. Yawn.
perl4ever 7y ago
"really inconvenient to transfer across borders." Huh. I think I read once where it was pointed out that gold is useful when there are all sorts of controls on capital flight and customs and so on, because you can (or someone who looks well off can) wear something like a gold watch (or maybe other jewelry) that is relatively easy to buy and sell, but doesn't trigger any alarms or barriers.