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One difference - Gold does not depend on the internet or the grid.😁 (normie)

Reply by South African Billionaire…

Yes, gold doesn’t depend on the internet or the grid…in theory…but let’s be real…if the power grid and internet went down globally, we’d be dealing with full-blown societal collapse. At that point, owning gold wouldn’t matter unless you can eat it, defend it, or trade it with someone who still thinks shiny rocks are worth canned food.

Also, let’s not pretend everyone who ‘owns’ gold actually possesses it. Most gold ownership today is just paper claims (ETFs, vaulted reserves, custodial holdings…actually all recorded and monitored via DIGITAL DATABASES ON TECHNOLOGY THAT WOULD NOT WORK IF THE INTERNET AND GRID WENT DOWN) which ironically DO rely on the internet and financial infrastructure. If the grid goes down, good luck accessing your ‘allocated’ ounces sitting in a vault 5,000 miles away 😉

Meanwhile, Bitcoin offers something gold never could…self-custody, portability, divisibility, and borderless transfer. If we are in a Mad Max scenario, the medium of exchange will be bullets, not bullion. But short of that, Bitcoin gives you freedom and access that gold simply can’t match in a modern world…

Let’s entertain the “no internet, no grid” scenario. You think gold gives you the upper hand? Let’s be honest…if you don’t have physical possession of your gold in your hand (not some vault slip, ETF, or custodian login), you’ve got nothing. And even if you do have bars at home, how exactly are you planning to trade them in a crisis? Shave off slivers? Carry it in your pocket and hope someone accepts it? Verify its authenticity with… what, your survival kit x-ray scanner? 😂 Gold bugs forget the verification difficulties…could go on and on here!!

Now flip the scenario: the grid and internet start coming back online. Bitcoin doesn’t need a branch office, armored truck, or FedEx shipment to “wake up.” It’s software/digital. As soon as one node connects, and then another, the network starts syncing…block by block, wallet by wallet. Your Bitcoin, even if stored offline, instantly becomes liquid and globally accessible again. No middlemen. No delay. No paperwork…GLOBALLY, INSTANTLY!!

Bitcoin will be the first monetary asset to come alive the moment the lights flicker back on. Gold? It’s still sitting there, waiting for someone to weigh it, test it, or ship it…like it’s 1805.

Bitcoin isn’t dependent on the grid…it just uses it better than anything else ever created 🤸‍♂️

#bitcoin #BTC #timechain #digitalcurrency #HODL #satoshi #mining #lightningnetwork #asknostr

db 8mo ago

This sums it up well. ₿itcoin for the win.

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Discussion

Satoshis Nephew 8mo ago

*Arguments in favour of Bitcoin, refuted by gold as preferred money*

1. Gold, you can’t eat. ~ Sure you can’t, but neither can your eat Bitcoin.

2. Gold is mostly possessed in vaults. ~ Not true. Central banks yes. Many wealthy people will store in safe havens, such as Switzerland. The majority of my investors and other investors take delivery of their Krugerrands. (They are strongly encouraged to do so).

3. Most gold is held as paper claims such as gold ETF’s. ~ Those who are cost conscious investors, yes, but otherwise not true. I strongly discourage this. My motto is, “ _If you do not hold it, you do not own it.”_

4. Gold being 5 000 miles away from you. ~ No, it is not if you take possession of it, it is close to home.

5. Bitcoins has features of self-custody, portability, divisibility, and borderless transfer. ~ Gold and silver meet these criteria too. I add silver because it meets the criteria of “divisibility,” of being able to purchase a basic basket of fruit and veggies for an ounce of silver.

6. Bitcoin is portable. ~ So is gold. Ask any German Jew who had to flee Nazi Germany, he could not take any of his assets with him, except his few gold sovereigns.

7. Have gold bars at home, how will you trade them in a crisis? Shave off slivers? ~ The best gold to purchase is Krugerrands. No verification required. They are tried and tested – in fact they are the best branded product that SA has produced. Silver, as mentioned already, is for the small day today items. Gold is for the big items such as property and vehicle purchases.

8. Bitcoin, even if stored offline, is liquid and globally accessible again. No middlemen. No delay. No paperwork! ~ The same is true for Krugerrands, internationally they are the most accepted gold coin, and can be instantly turned into cash.

9. Bitcoin isn’t dependent on the grid… it just uses it better than anything else ever created. ~ Neither are Krugerrands dependent on the grid. Gold has been with man for 5 000 years. In every financial crisis the world has always returned to gold. Gold has a dependable history that has stood the test of time.

10. Bitcoin still needs to prove it is a store of value, before it qualifies as money. It meets two of the three criteria, a unit of measure and a unit of exchange. It still needs to overcome the hurdle of volatility, only then will it be regarded in the tradition of sound money.

This was a GOLD bug’s response…

db 8mo ago

Sounds like this gold bug is getting closer to becoming a bitcoiner. Self custody is a step in the right direction. Real, in custody gold beats paper gold but still isn’t Bitcoin. In the end, ₿itcoin wins.