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BASIS NEUROBlockchain platform for investment in neuro-medicine and neuro-technologies. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies. The only bitcoin app you need! Can Bitcoin ever match or even replace gold as a safe haven from fluctuating fiat currency and unstable stock and bonds markets?
Some experts see a future where it will. As other precious materials and forms of currency have come and gone gold has remained a trusted asset. Its value is derived from its scarcity and as a form of wealth, it can be taken to any country and converted into fiat or traded as is for goods and services. In many ways, gold and Bitcoin are similar except that gold has passed the test of time while Bitcoin is in its infancy as a universal currency.
12,000 an ounce the market was alive with talk of Bitcoin usurping golds place as a hedge to currency. The same kind of inflated values that gold once saw during mining booms and busts and is not really part of the question of whether Bitcoin will ever take or match the yellow metal’s place as a store of value. People were going to a gold broker and swapping crypto out or swapping gold to buy crypto. As time goes on though Bitcoin becomes scarcer while gold will continue to be mined at the same rate. When all 21 million become available Bitcoin becomes finite and this, experts say, is when the market will find it’s true pace. Gold on the other hand is and will be continually mined at the rate of about 32,000 metric tons adding 1. Naysayers talk of gold’s history of being a safe hedge against crashing currency markets in times of trouble because it is a decentralized commodity that is universally recognized as having value.