Today Bitcoin Reached Parity with Gold!
For many of us who started our path in the world of investing by buying Gold and Silver this milestone is historic. This means that one Bitcoin has the same intrinsic value of 1 Troy Ounce of Gold. It was funny seeing some of the comments from some of my fellow Gold and Silver bugs today.
- "Bitcoin is an imaginary investment, all smoke and mirrors."
- "Bitcoin is like playing make believe."
- "Gold can be held that is why it has value, Bitcoin is just digits on the internet."
- "Bitcoin is a way to control the masses, Gold is freedom."
Ok, Enough Already Haters.
My argument has always been that Gold, Fiat Currency and Bitcoin only have value because we as humans decide that they do. Silver is a different story since it has so many uses. Gold has always been a human fascination. We love how it looks, feels and the value other people put on it. I have found that Gold and Silver fans are the easiest to convert to Bitcoin and Crypto Currencies.
Me Playing with $700K of Pure Tanzanian Gold Straight from the Mines. The Gold is Melted Down Into Dore Bars.
My Analysis of Gold Vs. Bitcoin Using the 7 Aspects of Money.
- Durable
- Divisible
- Convenient
- Consistent
- Possess Value
- Limited Quantity
- Long History
Within a Few Short Years I Believe Bitcoin Will Surpass Gold as a Store of Value.
Bitcoin is becoming more and more convenient every day. When I first made this chart a year ago I had to still call a buddy to buy Bitcoin or use Local Bitcoins. Now I can go to a Bitcoin ATM, buy some on sites like Changelly in a pinch or just continue writing on Steemit. I also leverage the Bitcoin I have and trade it on Bitmex. All of these options work. I never connect anything to a bank account. Once you make the move to Bitcoin it is best to keep it separate.
For Those Who Need Convenience You can Order a Wirex Bitcoin Debit Mastercard.
If You are still not convinced that Bitcoin is quickly becoming just as important as Gold in the world of finance then I can't help. My job is to enlighten, not convince skeptics. Keep stacking precious metals and hoard your Crytpo Currencies.
