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Gold and Bitcoin

May 20, 2021 By Philip Barton

Thursday

I am asked regularly for my opinion on bitcoin etc.  Even two of my sons have recently expressed interest.  I understand the thrill of a speculation that is going through the roof, but I also understand the danger.  It is a speculation, not an investment.  A speculation requires a bigger fool and in a world of peak stupid that has been a good bet.  But when the world runs out of bigger fools, you will need to be holding Gold (or silver) not bitcoin.

It is not possible to make a comparison between Gold and bitcoin.  One has the characteristic of being a store of stable value over time, the basis of money, and the other is a figment of the same sort of immature minds that imagine fairies and witches galloping around on unicorns.

One is real money, one is just a mass delusion.  A mass delusion based on clever technology, but a mass delusion nevertheless.

Try to think clearly.

These times are the most dangerous since 476AD.

Woolly, wishy-hopey thinking won’t help your chances of survival.

Filed Under: Other News Tagged With: 476AD, bigger fool, bitcoin, fairies, gold, investment, mass delusion, money, peak stupid, silver, speculation, survival, technology, unicorns, witches

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