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RE: Bitcoin vs Precious Metals: Venezuelans Choose Bitcoin

in #bitcoin8 years ago

If you read my article 'Gold Bugs Really Need To Wake Up' I mention how I'm a silver stacker and believe precious metals are a store of wealth, however, in the world we live in today, they just aren't used as a form of currency and probably won't be for quite some time just because no one really owns them.

I love metals and can't see silver going to zero, where bitcoin could go to zero. Therefore, metals are the ultimate store of value, however, being an objective and rational human being there is a living example happening right now as I write this that this isn't happening. My philosophy is that you should hold both, but barring a complete abandonment of electricity, crypto rules the day when it comes to survival.

As for Venezuelan laws against the people holding or using crypto, they don't care because they are in survival mode. When you're hungry and desperate, you won't give a flying *(?% what your government says.

Thanks for posting, it brings up some great ideas. :)