Forbes Mention - Case Study: Identifying The Relationship Of Gold To Crypto
This week I was mentioned in Forbes magazine alongside bitcoin founding team member Nick Szabo on the subject of bitcoins relation to gold.
A few of the quotes I submitted to the reporter, the first of which made it in print:
“Bitcoin bridges the gap between currency and a store of value asset. It maintains the speed and flexibility of a fiat currency, while remaining independent of central banks and governments and their macro-economic policies such as inflation.”
“Gold backed stable coins are still at large risk of centralization failures. The gold must be stored somewhere, controlled by someone. Any attack on that place, company, or leader can cause the whole system to collapse. You don’t own gold unless it’s in your possession just like you don’t own bitcoin unless you hold the private key.”
“While many bank on gold for the worst of times, gold itself is also an inferior doomsday plan to bitcoin. Should the internet survive a catastrophe, bitcoin will have more commerce utility than gold, as the latter is very hard to spend. And if the internet does not survive, it will be bullets and food that will be the global currency, not a piece of metal.”
You can read the full article here: https://www.forbes.com/sites/lukefitzpatrick/2019/01/20/case-study-identifying-the-relationship-of-gold-to-crypto/