What could we see happen next? Two things seem pretty likely – firstly, the price of gold will increase again, and those individuals, and presumably now countries also, who do actually hold physical gold will be in a great position. Secondly, faith in Fiat currencies, and the dollar most of all, will fall further, causing people to look to other places for their money.
Perhaps this is where the Bitcoin comes in. For those who believe in the value of a commodity like gold for times of turbulence, and are also comfortable with the idea of a virtual currency, rather than something that they can physically hold, Bitcoin might be a good option.
Sure, it’s disruptive and new. We don’t know what regulations might be passed down by respective governments in an attempt to limit damage to their own currencies. But, Bitcoin is a hell of a lot easier to manage than gold, and you can actually buy things with it! It can’t be sold off by a bank or a government that is supposed to be keeping it safe, instead you are the one who needs to keep it safe.
Bitcoin doesn’t have a central authority for a government to target specifically if they do decide to regulate. In the event of a global financial meltdown, people are likely to care little about what their government thinks of how they are holding wealth.
If you’re concerned about the current gold climate, take a look at Bitcoin, it might be interesting to you.
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