Poll: With increasing use of crypto, does the idea of having gold as an alternative to currencies become obsolete?

[ATCclears]

What say you?

Read More

 

[slimmer13]

Depends on your goals and perceived threats.

 

[Stomper]

Electronic vaporware that's never been anything but electrons and deluded human perception.

 

[po18guy]

Crypto exists only as long as people think it exists. Gold is material. It has substance. It is extremely useful to tech. George Soros cannot manipulate your gold. The gold market yes, but he cannot make your gold worthless.

 

[AlaskinAssasin]

When the internet dies, so does your crypto. I have a significant amount invested in crypto, but I also diversify with metals. There is a lot of money to be made in crypto. I recommend crypto.com because of the low fees, but again, if the internet goes away, so does your crypto. I think 9mm, 5.56 and 7.62 will be worth more than gold when each are in high demand

 

[BlindedByScience]

I share the concern about crypto being able to vanish in a millisecond.....

 

[albin25]

Gold won't turn to dust in the wind when the Government decides to flip the crypto-switch to OFF.

 

[P7M13]

Shizzle goes south, crypto is meaningless.

 

[GWS]

Gold = bird in the hand

 

[UnionMillsNW]

If the grid goes down so does crypto...

However. I can't eat gold or shoot it down range.

So gold is a good investment while the current system exists. But in a real SHTF situation nobody will care about gold. It will be brass, lead, and wheat/flour that rule the day.

 

[GWS]

Can anyone show me a point in the history of civilization where gold and silver haven't been valued?

 

[quneur]

Crypto is just a decentralized monetary system like the US dollar. The stability of the dollar is only as stable as the system which supports it, ie the Federal Reserve. Crypto is worldwide even in China where its banned. People there have been creative getting around their laws. But it is very volatile. Trading operates 24 hours a day.

Precious metals is a solid investment; doesn't have the volatility of crypto but doesn't have the growth potential of crypto,

The crypto market may correct itself and get rid of 'vapor' blockchains like Dogecoin; a crypto based upon pictures of dogs? And when a blockchain dies, so does your investment.

 

[parallax]

How Much Does an Ounce of Gold Buy?

Energy and Capital editor Keith Kohl discusses whether gold is really the safe haven for investors that it once was.

www.energyandcapital.com

I've always liked this story about the purchasing power of gold through out history.

 

[Certaindeaf]

Can anyone show me a point in the history of civilization where gold and silver haven't been valued?

Now. People use dollars.

 

[Stomper]

Now. People use dollars.

That's a nice way of saying TP is ALWAYS en vogue!

 

[Member 34319]

I vote unkown.

In my opinion and theory, electronic money is being allowed to appear as valuable to raise its trustworthiness and perceived value. Once more or most accept it for those reasons, it will be easier to go to a completely physical item-less (rather a paper bill or metal coin) society.

We are almost there, with our current system of computer money backed by the dollar, a physical piece of paper. So ya, I can totally see physical paper and gold going away to be replaced by a "perceived" system like Bitcoin that is "supposed" to be accountable and true.

 

[washagonian]

So gold is a good investment while the current system exists. But in a real SHTF situation nobody will care about gold. It will be brass, lead, and wheat/flour that rule the day.

In SHTF don't forget MEDICAL SUPPLIES: OTC drugs, wraps, bandages, etc., as well as more serious first aid supplies. Cheap to purchase now and easy to store. Non-drug supplies have almost an unlimited shelf-life. Most OTC drugs with 2 year expiration date are still potent for many more years. The ultimate currency in a barter market.

My understanding of the expiration date issue is that guaranteeing up to 2-years of potency for drugs requires significant long-term testing verification by drug companies to meet FDA and other governmental testing requirements. To conduct tests that prove potentency for longer than 2 years is not cost effective for drug companies, and for the most part is unnecessary in that most consumable OTC drugs are consumed within two years of purchase.

So stock up on the ibuprofen.

 

[EHJ]

Can anyone show me a point in the history of civilization where gold and silver haven't been valued?

Nope.

Miners in Iberia 5,300 years ago had high social status and rich burials

Stone Age Iberian miners of both sexes 5,300 to 4,300 years ago are believed to have had important status in their community near what is now Barcelona, Spain, as some of their dead were entombed in m

www.ancient-origins.net

But who am I to question the, "New Normal"?

 

[FourTeeFive]

Precious metals do have value forever. But depending on circumstances other things can be much more important. Food, water, weapons, ammo, tools, medical supplies, etc.

Like others have said, crypto can be gone in a second. You also can't do a lot to protect it from being stolen. It is hard to steel, but there are a lot of hackers out there looking for a quick profit.

 

[gmerkt]

I voted unknown simply because we can't yet know how this will turn out. My own opinion is that cyber currencies are no more valuable than fiat currencies circulated by sovereign states. The difference being there is a huge balloon of hype and false faith in Bitcoin, et al at the moment. With no intrinsic value as gold has. The rapid, huge appreciation of cyber currencies alone is enough to question their future. Out of all proportion relative to the general economy, not to mention having no backing. The block chain angle doesn't do anything for me as a user.

We've been discussing some of this on another thread. Somebody there said gold won't do for day to day economy. Lately there was a Bloomberg article about a region in Venezuela where small bits of gold are used for trade. The Venez. Bolivar is worthless; the people use it as a wrapper for gold. Sorry I can't link this article, pay wall situation.