[benbataille]

We have been in a post gold economy since the end of the Breton-Wood agreement. Hording gold is far from a wise investment. It certainly isn't a safe way to store value. First, history aside where it's value comes from is difficult to understand. There is literally tones of it lying around without any real use (far more than what is produced). Basically it's a safe haven because people decide to use it this way but the market could crash any day and has multiple times before and thus despite central banks holding so much of it they dwarf anything someone could decide to inject.

From my point of view, bitcoin is an even more stupid investment. As little as 5000BT makes the rate plummets. Nothing could stop a young Soros from pulling out a mini-black Wednesday. Add the fact that the market is completely unregulated and you have a pretty risky situation. I see Bit coin has a step backward. It's like current currency without any of the warranty provided by governments (security of trade is one of the main reason we instituted government after all). To the people who will argue that Cyprus is currently stealing its citizen, please think about what would have happen to them if there was no way to get a bailout and the banks actually collapsed.