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i will stick with the proven method of wealth preservation thank you. Gold does not have wild fluctions and just keeps trending up over the years. If i want to get rich quick and risk losing 50% of my capital i will let you know.
I wish someone told me many years ago that the secret to wealth is to only buy assests that give a positive return. We all think that buying your own home offers that, but the fact is a home is a liability because you constantly spend money on maintaining it and paying rates and interest fees, yes long term, your home does offer a nest egg because it grows in value, but it will keep you poor for a long time, because this is how we are taught in the capitalist system. If you could put an old head on young shoulders, the first thing you would do is buy a rental property, once it rises in value, you borrow against the equity and buy another rental property, eventually this system snowballs and after 20 years you can retire and travel the world while all the money you invested pays you back 100 fold. Bitcoin and gold won't do that, the true path to wealth is an easy one, yet not many achieve it. The reason I buy gold is because I'm too old to deploy the method above, I want protection for the money I have accrued and gold is just one part of that system, it is proven protection against a full financial meltdown. For whatever reason the younger generation seems to think that Bitcoin will preserve their wealth, but the reality is " it is a theory". I have seen three crashes, one of them burnt me badly. And one thing I have learnt, is you will not believe how cheap some assests become, and that usually happens when all of the world's money is heavily invested. So, I suspect that there are many gamblers (that think they're investors) fully loaded in bitcoin waiting for a payday, but like i said above, you will not believe how cheap things become when people are forced to sell their assets to cover debt. You may not have debt now, but if you lost your job how long could you lead your regular life before you had to start selling assests or investments (seriously work it out on paper, for most people it's six weeks).
so, you say Bitcoin is protection against the falling value of fiat, and I say that it will be one of the first assests to fold like a cheap suit. We shall see.
