The APEX of a commanding human emotion is the common ground the derives the value of GOLD and the BITCOIN. Both an enemy to the centralisation. How? Please read on...
Hi readers, I have been absent of late as I have been spending time reading, connecting with other bloggers, as well as welcoming new minnows. I endeavour to give my best in bringing you quality content, so I avoid making posts that are of Facebook quality.
This morning as I was commuting in a BMW X5 since my beloved 330ci convertible is getting work done in shop I was listening to a groundbreaking radio show where Coast to Coast am hosted by George Knapp on this occasion.
Here is the show for free:
Here is the show for subscribers:
http://www.coasttocoastam.com/show/2017/07/22
This is an interview with Dr James Ledbetter:
https://en.wikipedia.org/wiki/James_Ledbetter
https://www.inc.com/author/james-ledbetter
Editor-in-charge of [Reuters.com](https://en.wikipedia.org/wiki/Reuters
In 2008, he joined online magazine Slate, where he oversaw the business news website The Big Money. And he is the former senior editor of Time Magazine
Interview about history of Gold in America, where he discusses the real and unpleasant history of the gold rush in America, and also how the bringing back the Gold Standard would have more negative implications than positive.
At the question time of the interview, a caller calls in and asks Dr Ledbetter...
The caller asks...Bitcoins have reached a recent height in price of ~$3000. Where is it getting its value from?
His answer... Bitcoin and gold are polar opposites. One is tangible and can he held, while the other is a digital and abstract currency that does not really exist. They cannot be more different. However they do have overlaps in that they have common interests in their audiences.
Both have seekers that in one way or another DOES NOT TRUST THE CENTRAL SYSTEM.
Both of their values are based on SCARCITY.
Gold is finite, and it is mined from the ground. The more we dig out of the ground the more difficult it is to get the next lot of gold. And it is possible that we will run out. LIke the grains of sand on a beach, it is not unlimited.
Bitcoin from the get go, the creators have said that it is it is finite. It is mined, and it is not unlimited.
So both of these currencies are mined, one physically, and the other digitally. Both have a limited supply, and a growing demand sends them both into being a scare prize. And this is where the value is derived from.
He did point out also that Bitcoin is still in it's early days and if this was a baseball game we are still in the 1st innings. We don't really know how it is going to turn out. Many say that if you bought a $100 worth of Bitcoin, today it is worth a million. If you got in early that is great. But there are plenty of people who have bought and sold at the wrong times and have lost money. Like everything else, Bitcoin is subject to market volatility and there is no guarantee that everyone who gets into this will make a lot of money.
Blockchain applications are very interesting he says, and that many applications, monetary or not will use this technology. However he does not see that it will be accepted by the central system in his lifetime.
Thank you for reading this article. If you have enjoyed it please upvote, follow, and resteem.
Regards
Yoda