RE:RE:About Bitcoin at $20,000... mferguson71 wrote: I like the discussion. In my mind the bullish and bearish case for precious Metals and bitcoin remain the same or they should be the same. One question I have about bitcoin is how is the government going to ever regulate that. I prefer assets that I can touch still. Silver still has has a commercial component to it for demand.
Yes. The precious metals and bitcoin bullish case revolves around the destruction of the US dollar by trillion dollar stimulus--supposedly Biden will go for two or three trillion more--and the accompanying inflation. And of course government debt worldwide keeps growing.
Part of cybercurrency's 'sales pitch' is that the blockchain technology which makes it secure (which i strongly doubt) supposedly puts it beyond the reach of government--offshore banking at your fingertips.
Money is ultimately whatever people will agree it is.
How far have we come really? A powdered rhino horn probably goes for at least ten bitcoins in China. And if the last forty years of western adoption is anything to go by they'd probably throw in all the infant girls you want for free.