Isn't it so the people invest in gold cause it does keeps it value?
I do think that BTC could be compared the most to gold. This because it is also scarce but BTC has indeed no intrinsic value.
If I do understand enough what you are writing then maybe Tether would be a better comparison to gold, than BTC does!
If the market plummets, tether will stay around the same value. But tether isn't scarce and has an intrinsic value.
Does this make sense?
I wouldn't for sure call all cryptos besides the two I mentioned to be a safe haven, not could I compare it with gold. Investing into these is more like taking a gamble!
We all have do have high expectations, but within 1 year it could just vaporize!
I think you made a great point, gold will still be here in a years time, probably a hundreds years time. What about the 1500+ shitcoins that people can invest in today ?
It's not so much the fact that investing in gold is bad, it's just bad long term compared to just about everything else. The point is that gold is very safe, but it won't make you money over time.
Tether could also implode with little warning. It's value is entirely based on a sufficient number of people holding to the faith that it is backed by USD. In my opinion, USDT is a lot more likely to go to zero than Bitcoin