Precious Metals > Bitcoin

Published on May 24, 2017 at www.honestvalueneverfails.com

This is an article I published back in May when all the hype about bitcoin sparked after its price started shooting up in stocks. This, along with all of my work is completely opinionated and my thoughts on the matter.

Recently there has been a lot of discussion about bitcoin. Talk about how much you would of made had you been "invested" into it over the past week or two. Above you see an electronically created picture of a coin with the letter "B" on it representing bitcoin, a crypto-currency. That is exactly what it represents, a worthless electronically created currency portrayed by this coin. No such coin exists its just a picture. On the right you see an American Gold eagle. In this article I will explain why gold and silver will always outweigh and out-value bitcoin. Gold and Silver have been valued and sought after for thousands of years all throughout history. Both are tangible, biblical and true forms of wealth. Bitcoin on the other hand is not. If you do a little research and reading on bitcoin you will find that this electronic form of "currency" or so they claim it to be, is backed by nothing. Sounds familiar right? I came across an article online on a website called 99bitcoins published by a man named Brian Booker(https://99bitcoins.com/what-is-bitcoin-backed-by/). The title of this article is "What is Bitcoin backed by" and right away his first sentence he informs us what it is backed by, and that is nothing. Within this article he has a paragraph I would like to talk about. "What backs a currency is irrelevant, Perception is what matters" is word for word what he has titled this specific segment. He goes on to say that the idea that commodities are necessary to back up currencies is totally irrelevant. I personally will never comprehend the logic behind his or anyone's thought process in this matter. He even talks about bitcoin pretty much being another form of fiat currency. Well if we look at our current fiat currency backed by nothing and the situation its in, he really isn't helping prove his point or defending his argument. He talks about hyperinflation, how much it affects our current dollar and fiat currencies around the globe but then completely contradicts himself by saying bitcoin is like a new fiat system. Hyperinflation exists because our currency system has not been backed by anything. He even states "Money has value because we believe it to have value". Our dollar has been backed by nothing but faith, trust and a blurred perception for so long that it has lost over 80% of its value since 1971 when Nixon abolished the gold standard system. You see my point on how worthless bitcoin really is along with our failing fiat dollar backed by false trust. What never fails is honest value. Real, constitutional, and biblical forms of wealth. Gold and Silver will always be the epitome of true forms of currency. Both are finite sources you can hold in your hand. They aren't a form of currency you can just print out or download. You can store them securely where nobody can find them and take it away, unlike bitcoin which is a matrix form of fiat currency that can be lost in the blink of an eye. Not that there is any true value there to begin with anyway. Gold and Silver have not only held their value but increased over time as hyperinflation continues to resume within our fiat system. They are my hedge against such inflation and I encourage everyone to hedge themselves against it as well. Preserve and protect your financial future for yourself and your family. Don't perceive something a certain way just because its meant to be perceived that way, especially bitcoin.

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