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BITCOIN vs. GOLD: Which is the better long-term strategy for securing assets?
• http://www.naturalnews.com(Natural News) Across the independent media, there's a fierce debate raging between those who promote GOLD vs. others who are advocating BITCOIN. I've been a long-time gold advocate and Bitcoin advocate, although I recently warned that Bitcoin was overbought and headed for a massive correction. In less than 24 hours after that warning, Bitcoin began a plunge that took it down nearly 30%. It has since partially recovered to the $2500 range, and the debate rages on.
What's interesting about this debate is that all of us who are pro-gold and pro-Bitcoin are anti central banking. We all understand the total currency collapse that's coming for fiat currencies such as the dollar. We are all fully informed of the massive theft of purchasing power taking place every day due to the endless money printing of the central banks, and we all want to promote and pursue strategies for asset protection that minimize risk.
In this analysis, I aim to give you straight up advantages and disadvantages of Bitcoin vs. Gold, then I'll reveal my conclusion of what I think is the best store of wealth. (Hint: It's a mix.)
Disclaimer: I currently own approximately 0.35 Bitcoins, and I am mining Bitcoins daily using a solar farm in Arizona. I am not betting against Bitcoin price movements in either direction. I also own some amount of gold, and I am not invested in any gold derivatives or options of any kind.
BITCOIN advantages and disadvantages
Bitcoin is a phenomenal innovation with extraordinary advantages over fiat currency, including its relatively rapid speed of transfer, its mathematically limited coin supply and its distributed, decentralized blockchain which avoids all government regulation. The fact that Bitcoin is completely decentralized means no government can shut it down. There are no central servers to be raided and confiscated at gunpoint, which is usually how governments shut down activities they don't like.
Bitcoin is easily portable, so it's a great "escape" currency. You can "carry it" with you without carrying anything that can be easily confiscated such as cash or coin. Your entire Bitcoin savings could be help on an encrypted thumb drive, or even in an online wallet where you remember the password (or tattoo it on your heel, just in case).