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RE: 3 Reasons Why Bitcoin Cannot Replace Gold?
Thanks for the brief but interesting post. You make some good points that are essential in understanding these two alternatives to valueless fiat currency.
While the price of bitcoin has surpassed that of gold, and may continue to exceed the price of all precious metals, there are many factors to take into account when considering the value of precious metals.
While gold has some uses as a practical metal, silver has many more uses, and there is much demand for silver for use in phones, solar panels and more.
Fiat money will be replaced ... soon. Whether it is replaced by precious metals or by cryptocurrencies is hardly an issue. The days of fiat money are numbered.
Fiat money should be replaced but governments are a barrier to this change. Recently this is what countries like China, Russia, and South Korea are trying to do. Governments are backed by Bankers who have their vested interests with the fiat money system.