Crypto enthusiasts usually use Gold and Silver talking points.
They say it is decentralized (this is not true. The so-called ledger is easily tracked)
While cryptocurrency is often touted as a hedge against inflation or geopolitical friction, (This is also not true, the reality is starkly different. Governments have demonstrated their power to ban, sanction, freeze, seize, and even hack cryptocurrency, exposing its vulnerability.)
Additionally, the rapid pace of technological advancement poses a significant risk of obsolescence.
They say it's a store of value (this is not true; it has never gone through even ONE RECESSION, really it's a derivative of tech stocks and the opposite of a store of value because of its volatility)
The fundamental issue with cryptocurrency is its redundancy. Gold and Silver, on the other hand, are not just commodities, they are money. They are the only time-tested assets that are decentralized, store of value, portable, fungible, and inflation hedge, offering a sense of stability and reliability that cryptocurrency cannot match.
And their ownership does not present any counterparty risk.
It's crucial to remember that all technology has a built-in obsolescence. For instance, The power of supercomputing could render the entire crypto framework obsolete, raising serious questions about its long-term viability.
The future of cryptocurrency is still being determined. Just two years Bitcoin crashed from 69,000 to under 15,000 (an insane collapse demonstrating it was an instrument of speculation and hype, not a store of value.)
As I will demonstrate at the end of this article, a single event could wipe out all Bitcoin, Ethereum, and the multitude of so-called 'alt coins.'
This, coupled with cryptocurrency's inherent risks and vulnerabilities, makes a compelling case for considering gold and Silver as superior alternatives.
Remember that all future wars will include cyber attacks and attacking power grids. In essence “when the lights go off” YOU HAVE NOTHING
Coinbase Faces System Wide Outage, Affirms Funds Are Safe
Coinbase, the largest U.S.-based cryptocurrency exchanges, reported a system-wide outage in its services, affecting customers’ crypto operations. On its status site, Coinbase stated that it was aware that “some users may experience failures when sending crypto or withdrawing fiat,” and declared it was working to fix this issue. Later, the exchange recognized experiencing a system-wide outage on its services. “Your funds are safe,” Coinbase declared.
This headline is misleading. If the system isn’t working and people can’t withdraw funds how does it mean “funds are safe”
Just remember with gold and silver when the lights go off your gold and silver still shine in the candlelight.
Here is a scenario that is entirely possible that would wipe out all Crypto funds but not harm Gold or Silver (In fact it would most likely triple their price) NOTE: I am not cheering for this event to occur I am just saying there is a likelihood it will occur and it would wipe out all crypto
The phenomenon or event I am referring to is called an electromagnetic pulse (EMP) caused by a high-altitude nuclear detonation. Here are the key points:
- A nuclear weapon detonated at high altitudes (above 30 km) can generate an intense electromagnetic pulse (EMP) over a vast area on the Earth's surface.[1][2]
- This EMP has the potential to disrupt and damage electronic systems, including computers, communication networks, and control systems for critical infrastructure.[1][2]
- The EMP effect results from the gamma rays released during the nuclear explosion, which strip electrons from air molecules, creating a high-density plasma. This plasma interacts with the Earth's magnetic field, generating huge electromagnetic fields that can induce high voltages in electrical conductors.[3]
- A high-altitude EMP could potentially cause widespread electronic failures and system crashes, effectively wiping out computing capabilities and crippling modern societies heavily reliant on electronics and digital systems.[4][5]
A nuclear detonation at high altitudes could generate an EMP capable of wiping out or severely disrupting computing and electronic systems over a large geographic area, posing a significant threat to modern technological infrastructure.
Citations:
[1] https://www.pbs.org/newshour/world/north-korea-confirms-simulated-use-of-nukes-to-wipe-out-south-korean-and-u-s-enemies
[2] https://apnews.com/article/business-seoul-south-korea-nuclear-weapons-north-6ce0a8da47f8eb9228d4b33223ebfa3b
[3] https://thebulletin.org/2022/10/nowhere-to-hide-how-a-nuclear-war-would-kill-you-and-almost-everyone-else/
[4] https://time.com/6314045/prevent-ai-disaster-nuclear-catastrophe/
[5] https://www.cfr.org/article/pairing-ai-and-nukes-will-lead-our-autonomous-doomsday
Editors note:
This isn’t meant to offend anyone who may have relatives killed during witch trials in the 1600s but this is how a Puritan may have written a headline (analogy intended)