I posted this on a gold stock forum replying to a poster and thought it might be of interest:
Gold versus BTC.
I think BTC maximalist scenarios have taken a hit in the past two years due to the increasing geopolitical rivalries, weaponization of trade and currencies, "dark art" plots to disrupt geopolitical rivals as well as the CBDC ambitions. Technological crypto solutions with somewhat mysterious origins and possible exposure to overt or backdoor meddling by super powers create fear, uncertainty and doubt. Even the pager attack would create doubt among many about technology security.
Bait and switch on a grand scale? Who knows? But the view that the world is a game of friendly cricket, played by the rules with the best team winning has faded substantially. Of course that creates an opportunity for BTC and crypto but also doubt where faith in the unknown is required.
Who knows what world powers, the spooks and / or Central Banks and the master market manipulators, have planned for BTC and other cryptos?
The possibility of things like cyber, EMP, or sabotage of undersea submarine cable attacks directly cast doubt on technology as safe and stable.
Interestingly, BTC has recently traded like a risk asset not a store of value. BTC has proven as clunky as gold in the real world of commerce.
Efforts to make it mainstream tend to duplicate the fiat currency model. Some promising solutions for ease of use layered on top of BTC seemed more like small little ecosystems that super techno savvy people were loving but may struggle for mass acceptance.
Many countries have population groups would these days see BTC, rightly or wrongly, as potentially another tool, or even trojan horse, that could be used against them far more than say even two years ago.
If the US goes big on BTC, China and Russia will not touch it for widespread use. Same vice versa.
Can you imagine the Middle East going gung ho for some western created crypto controlled by them in the foreseeable future?
Most already see CBDCs in this light and that has a spill over effect onto BTC
So, good old gold, has in the past two years, re-emerged from the shadows into the mainstream of thinking due to its many advantages and long history as proven by the actions of the BRICs group, western Central Banks and for individuals.
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