You might remember a lot of talk and backlash came to bitcoin a few years ago when fees got so crazy high that people started to seriously question if bitcoin was going to end up crushing itself. People demanded faster speeds and changes to the chain but the core devs held steady and said no way!
Instead to them and what others are now realizing is the Bitcoin is looked at as more of a security, very well tested blockchain that has stood up to everything that's been thrown at it so far. All while increasing in price and value and continues to be looked at as a store of value.
This is also what Gold is a store of value in which governments own that is suppose to provide value to the core government and the country. However Bitcoin and crypto are changing up that a bit and trust me it's been needed as a vast amount of the worlds trading and value is now based on IOUs that anyone could default on at any given time.
*This article is for entertainment purposes only and is not financial advice. Do your own research before investing and understand the risks.
Gold
Now there was a time in which your paper money actully represented gold in the safe. However those days are long gone with the removal of the gold standard in 1971 with president Richard Nixon.
This meant that paper money or FIAT could be printed at will and no standard of gold to fiat ratio would be.
Right now people lately have been buying up gold as a store of value or a hedge against inflation. It's been a practice that's been around for a very long time and in most cases has worked out well. However as time passed gold markets have become a little manipulated and only seems to be getting worse. But overall Gold and Silver seem to slowly increase and some times buck shot when people get really crazy.
Money Printing
Money Printer go BRRRR and that's exactly what's been happening and many expect to only get worse. This is because the only way really for the USA to get out of debt is to inflate its way out of it it's always been the way.
Now other things can help like job cuts, removing wasteful programs etc. and to be honest the government "business" has gotta way to out of control with their spending and projects and asking for more and more tax money. It's a slippery slope that's only gotten worse but many are too blind to see that if you work for the government then they control everything. Your job, your income, what you eat, cost of living etc. We need LESS taxes and LESS government oversight and less government spending if the USA is going to survive and while that's a very hard thing for most to hear it's a simple fact that that's really what's gone wrong with this country over the last few decades.
Bitcoin As Gold
In a world where everything is increasingly becoming digital and you don't own anything bitcoin has started to shine as a possible solution or at least a hedge against all of that.
We are also seeing major changes happening in the world right now as well such as wars that seem to continue to grow larger and larger instead of being cooled off and no real end in sight.
Most of this is centered around East vs West powers in which their style of government is deemed to be better and its ways of people. However when you pull that all back you see the same thing happening. These major powers are simply extracting as much resources as they can from places like Africa while trying to give the elusion of helping etc. What you have to realize is if the USA didn't do it then places likes Russia would and they are and have been doing this for decades in Africa and other places extracting as much of the resources as they can from it.
Instead of slavery at home slavery is now oceans and seas away from the people and in that people don't really care to be honest with you. Sure some will say they do but overall most don't as it's not in their backyard or on their street anymore.
Mining
It's also becoming clear that mining bitcoin is getting harder and harder. Honestly I'd be surprised if any hobby miners make it through the next halving and totally shocked if they make it 8 years through two of them. Bitcoin would have to be roughly a million bucks by then for your every day hobby style miner to actully making anything.
So bitcoin as gold... It seems to be happening more and more and holds true to the character of what the old gold standard used to be a hedge against inflation.
Posted Using InLeo Alpha
Bitcoin is definitely the new gold I've made a crazy amount from bitcoin and cryptocurrency over the year's compared to gold 🤝🏾
I hope you enjoy your day ahead ✌🏾
In my honest opinion.
I think so
Seriously it will be difficult for those just starting crypto to start with bitcoin. The issue is seeing a legit mining tool It's very difficult to find one
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