GOLD VERSUS BITCOIN

There is a current debate as to the relative merits of Gold versus Bitcoin as an alternate currency.  In fact, many serious analysts track the relative trading movement of these two vehicles and have noticed they tend to move inversely as one ore the other gains more popularity.

Yet, to me, this is a terribly confused debate.  Though both Gold and Bitcoin can be described as "alternate curencies,"  the similarities end there.

The whole point of Gold is that it is a currency that resides in the possession of the private citizen.  Not in a third party regulated exchange or facility.  You keep your gold where you will.  In this way you have total and direct control of this source of wealth.  This protects from any and all outside interference.  And because gold is perfectly inert and never degrades or tarnishes your source of wealth is perfectly stable and always within your control

Bitcoin is stored in virtual reality.  During a blackout Bitcoin ceases to exist.  Your wealth is gone.

Bitcoin can be and has been hacked.  Your wealth is gone.  And you have no recourse against hackers.  You can not defend yourself against them with force of arms, force of will, ingenuity.   It is completely out of your control. 

Bitcoin  is at the mercy of the integrity of a particular bitcoin exchange.  Unless you're a terrorist or a tax cheat then what's the point of putting your faith in some unknown exchange entity as opposed to putting your faith in the government currency?

They say Bitcoin has a finite supply - Unless the protocol is changed.  That's like buying a limited edition print numbered out of no more than 100 - unless the artist decides to do a new edition.  How naive can you be?

Finally Gold is eternal.  When you die you can leave your gold to your family.  When people who own Bitcoin die, unless the code has been passed on to others - which defeats the point of owning Bitcoin - the Bitcoin ceases to exist. 

Gold never ceases to exist.