klugook

Bitcoin BREAKING the gold market?!

Long
BTC/XAU  
BTC/XAU  
As we can see bitcoin has been slowly winning agains Gold spot, to see this continue I think we may see some parabolic movement against gold .

Historically gold has allways been the main non inflationairy asset, but hodlers are increasing and gold is seen as the old man option.
The use case of Gold vs Bitcoin is a clear one too. Gold is a heavy block of metal, and difficult for the average Joe to verify realness.
Gold is cumbersome held by third parties in the form of an IOU . Which once was what the dollar itself was, until Nixon decided to abolish this. Bitcoin you own yourself and doesnt need a middleman for verification. Also because bitcoin is decentralized there is no one who can decouple bitcoin from the hashes, making it a permanent form of the dollar.

Gold of course is an unverifiable pile, nobody really knows how much there is. Or where it came from, what it was used for. Bitcoin solves all those problems.

Much as I like gold and silver for jewelry, might be we can actually use our resources for better. I wonder if we have really entered the age of a new gold standard.

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