Cryptocurrencies, gold and FIAT currencies are not enemies.
Poor comparisons between the three seem to litter mainstream financial news networks and writer’s blogs at a pretty remarkable rate right now. I am going to keep this short and try my best to add some visibility for folks - its apple oranges and pears, same things but they have different nutrients. So lets go ahead and look at what each currency/commodity is best at.
Storing Wealth
Gold
Gold is best at maintaining and storing wealth. Gold doesn’t really dip, its steady and safe. As far as wealth storage goes, well it’s the gold standard.
Transferring Wealth
Cryptocurrency
Cryptocurrencies enjoy notably, 'faster-than-traditional', easy transactions in a peer-to-peer process without friction across borders. It was designed this way. It is the best at it.
Spending Wealth
FIAT
FIAT is required to pay our bills and pay our mortgages, there is legislation outlining the details and the parameters for each local FIAT, which require it to be spent and require to be bought. Again, this is by design.
The good news
Each purpose that is best fulfilled by our currencies happen to complement each other. We can go ahead invest fiat into Crypto make money and store it in Gold.
As always, share you ideas below, are these three enemies or friends?
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