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Re: tbnfl4sun post# 5542

Tuesday, 05/23/2017 8:21:49 PM

Tuesday, May 23, 2017 8:21:49 PM

Post# of 19085
I think the bitcoin run just is giving people a taste of what having a non government controlled currency is all about. This is a really interesting article comparing bitcoin, gold and fiat currencies. When the big money starts getting scared of hyperinflation and the fiat currencies the bitcoin market will be too small and risky compared to the liquid gold market.

IMO Bitcoin still has many risks - it is still vulnerable to a 51% attack, in 2014 they had the Mt. Gox fiasco, and there is still a lot of talk about a "hard fork" and hitting the 1 megabyte block limit. And then you have the issue with governments trying to get in an somehow try to regulate or control it.

This was an interesting comparison to gold:

"For Bitcoin to reach the same market cap as Gold, the required price is $500,000."

http://bitcoinist.com/bitcoin-price-match-market-cap-gold/