Yes, Bitcoins are Gold 2.0

Rich Tehrani : Communications and Technology Blog - Tehrani.com
Rich Tehrani
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Yes, Bitcoins are Gold 2.0

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We weren't too surprised to see that a bitcoin is now worth more than an ounce of gold... Coming in at a record, $1,251.32! After all, in 2013 we shared 15 reasons bitcoins are better gold

Here are just a few of the bullets from that post:
  • Bitcoins are gold 2.0
  • Customs
  • Transaction fees
  • Gambling
  • No commodities correlation
Bottom line - the virtual currency is now more valuable than the physical. When we asked some months back if bitcoins will crash gold - the idea seemed silly. Perhaps it still is but you can't deny what a big deal this news is. Everything we've been taught is now at risk... Many people use gold as a shelter from governments printing endless amounts of paper money. But what if even more people realize there are benefits to virtual versus physical monetary hedges?

Of course the GLD does something similar to bitcoins but still, there is "physical gold" backing every "virtual" ounce.

Of course, this piece is not an endorsement of any investment, virtual currency or anything else. Prices are able to fluctuate widely - gold could overtake bitcoins in price at any time. Moreover, virtual currencies can be stolen, perhaps more easily than a metal.

But getting back to the sunny side of bitcoin life... When we predicted 2017 will be the year of blockchain, bitcoin and fintech, we were likely was right. Bitcoins potentially are, gold 2.0.

The question now is how do you learn more about this market and where its headed? It's a bit self-serving but we can say without hesitation, the Blockchain Event which TMC is a part-owner of is one of the best educational events on the market - it has a consistent buzz and is growing. The next one takes place in Las Vegas, July 17-20 and we hope to see you there!


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