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0 sats \ 0 replies \ @TheBTCManual 20 Mar \ on: Gold Bugs & Assumptions bitcoin
I had some gold back in the day as I was on my search for anything that could store value but what I realised is the practical reality of gold is a joke.
- You can't store any meaningful wealth because of the physical size and it literally increases your attack surface
- Most people instinctively know this so they opt for paper gold
- Alternatively you can use a custodian but this doesn't work for everyone + you have a leak in your purchasing power due to the custody fees you pay
If you do opt for physical gold you also at the mercy of the pools of liquidity you can access, if you got major bags you get better big ask spreads from premium dealers, if you're a pleb selling to a gold dealer or some cash for gold place you're getting shafted
There is no push or desire to make gold easier to spend either, because of these sweet spreads, versus with bitcoin, there is no gold for cash ATMs, there is no reality where you can spend gold directly for goods and services like Bitcoin can
Gold is a meme, when people shill me gold I try to paint the reality and see if they don't figure it out on their own