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Gold is a physical asset. People understand physical security. Gold can't be lost due to a hard drive crash, and it cannot be stolen over a network. More impor
by Alterlife 13y ago
Gold is a physical asset. People understand physical security.
Gold can't be lost due to a hard drive crash, and it cannot be stolen over a network. More importantly, I believe a majority of people (myself among the number) do not understand bitcoins were stolen from mtgox.
- ivanca 13y agoDollars (and Euros) stopped being a gold-based currency a long time ago: http://en.wikipedia.org/wiki/Fiat_money http://en.wikipedia.org/wiki/Fiat_money Besides, "understanding" is very slippery verb in this context, what do you understand about gold? You know where it all is? You know who is in charge of protecting it and who is the owner? You know its location? You know who is digging for it? You know where are they digging? I don't clearly see what "understanding" you have about it.
- deleted 13y ago[deleted]
- Alterlife 13y agoThere's a disconnect between what I think of as Gold investment and what you're talking about... Perhaps you're referring to Gold stocks, or notes or something? What I'm talking about: In India, my family buys a small amount of Gold every 3 months or so. Gold coins, each a few grams in weight. I know exactly where they are -- I have a safe deposit locker at my bank, and some of them have been converted into jewelry for my wife.
- JoeAltmaier 13y agoCool! Somebody like you was at work 160 years ago in California - recently 6 cans of gold were discovered buried under an ancient oak tree after a rain.
- Alterlife 13y agoBuried treasure: the ONLY way to save ^_^ .
- JoeAltmaier 13y agoDidn't work for that person; they died without ever recovering it. Some random couple got rich. Lesson: take more walks in the woods?
- deleted 13y ago[deleted]