Around 2014, I was a gold bug. I'd bought a few Bitcoin as a hedge, but seeing the price of BTC exceeded 1oz of gold, well - back then I thought that was insane, and stopped stacking sats. How on earth could a made up internet currency be worth more than a beautiful, weighty physical gold coin?
Now I look at the price of 1oz of gold and kinda think that is crazy. The price has doubled since i bought it. How can one small metal coin be worth so many units of fiat? How accurate does the weighing and assaying equipment need to be to ensure my gold is correctly valued?
Where as Bitcoin - well that's up 100x (or whatever) since I bought it. Strangely today, that doesn't seem crazy at all to me. It has no physical presence, size or mass. Which means my brain doesn't have to think about how can a single gram or millimeter be worth a certain price. It is purely digital. It is unencumbered to be valued at any fiat price.
Anyway, GM.
Login to reply