Re:Bitcoin and cryptocurrency prices have fallen sharply ove...
by jariel on Friday March 13, 2020 @02:33AM
(#22565238)
No, 'Bitcoin is not there' as a long-term safe haven, it's a totally unproven and risky asset.
Yes, in a liquidity crisis, cash is king, but Gold will usually retain its value through hard times.
Bitcoin is a meme compared to Gold. There are very few people who would consider it a meaningful asset, it's really a 'good economy speculation'. In a few hundred years and several massive crises if BTC is still around, then maybe.
BTC is not Gold, they are not in the same category.
Yes, in a liquidity crisis, cash is king, but Gold will usually retain its value through hard times.
Bitcoin is a meme compared to Gold. There are very few people who would consider it a meaningful asset, it's really a 'good economy speculation'. In a few hundred years and several massive crises if BTC is still around, then maybe.
BTC is not Gold, they are not in the same category.