Cryptocurrency Market Update – Bitcoin Vs Gold as Store of Value



what's going on everybody's Jeff Oakland buzz so today we're gonna talk about the mark we're gonna do a market update and we're also gonna talk about Bitcoin and cryptocurrency to the store value first precious metal of gold all that kind of stuff and we'll even throw in some interesting other ideas for store value and we'll kind of talk about that in this video so first foremost if you're new here you can click Subscribe and click that bell to get notified when videos like this drop let's go ahead and kick this right off here so we got G Dax here watching this you can see we push past 9,000 that was kind of the magic number that I was anticipating to see any sort of excitement from my end because we were forming a nice level of support resistance if you want to call it that around the 8880 500 to $8,800 Bitcoin range and I said well if we passed 9,000 that's someplace we haven't been in the upswing and we did that here recently over the last 12 12 hours or so so you can see the price of Bitcoin here finally climbed up right it's Valentine's Day what do you think about that we got a nice push here there's a couple things playing into factor here number one is the Chinese New Year also keep in mind Tet if for all those Vietnam era collegiate historians you know about the Tet Offensive Tet is three days that takes place in the Lunar New Year and I believe those three days are upon us very quickly I don't know the exact dates but I have some friends in Asia and they were talking about what they're getting ready to do for Tet that's T et you can look it up online anyway it's just a little interesting point to put out there because as the Tet holiday ends it'll be interesting to see how Asia responds right and the anticipated result is that at the during the Tet holiday families will come together and they will share their stories about cryptocurrency Bitcoin which will further the adoption and the spread of information it's kind of like during the holidays in America you would anticipate two people come together you guys talk to your family about Bitcoin and cryptocurrency so you've already planted that seed now it's growing right same way someone planted the seed with you and it grew and then you got in so if we just look at the market overall we're at a four hundred fifty billion dollar market cap 34 percent Bitcoin dominus that's not really change too much and that's a strong that's it's funny because that's like always where Bitcoin just kind of stabilizes 33 to 34 percent it hasn't gone below 30 percent and if and when it does that would be an interesting moment for cryptocurrency but depending upon how many valuable altcoins we get in the market we'll also I will be taking that into consideration when observing that so as you can see here we have a run by with light coin with light pay go onto in Twitter here and just type in pay with light coin and you can see people you know posting their stuff on on here with Charlie Lee he's definitely the ambassador of light coin we've also got some information coming from light pay and yeah if you're just if you're invested in light coin check this out light pay on Twitter also let's talk about what I posted on here this morning so this is on our Twitter all coin buzz IO you can follow us there if you're not already as a digital nomad so a digital Nomad someone who travels around often developing business having physical gold isn't a convenience-store value like bitcoin litecoin or aetherium well I get a safety deposit box when all you need is a hardware wallet digital gold makes sense so let me kind of add on to that because sometimes all tweeting people won't understand what I'm talking because sometimes that appears is foreign language to newbies right so digital nomads that is somebody who travels around with the laptop and basically you know utilizes the opportunity with Airbnb and these hotel accommodations that are at cheap prices you know rewards programs and works from their laptop it doesn't matter if I'm Zanzibar Tanzania doesn't matter if I'm in South Africa or Canberra Australia or Gold Coast Australia Auckland New Zealand or Zurn Switzerland right I can travel anywhere as long as I have my laptop and cell phone plugged into an Internet and I can work that's a digital nomad okay so if you're a digital nomad and you got gold physical because the only way you can acquire gold you have to buy the gold at either a gold dealer down the street or order it online on Gold Line or something like that right then you got to put it into a box and make sure it's safe at your house but if you're out traveling around working and traveling because that's what your lifestyle is you're not going to carry the gold around in your pocket obviously and it really has no utility to you other than just sitting in your house hoping that no one breaks into your house and steals your safety deposit box okay so you can store it at the bank right and pay that yearly fee that's not really that convenient because then you're paying just this fee to just store it I guess it's convenient now I'm not saying don't own gold or don't own silver because I actually have some silver myself I don't have any gold although I should probably take that step but I was talking about grandpa he tells me he has ten coins ten gold coins and I said okay I said yeah but can you store my coins for me because I travel a lot I don't want to have to worry about storage and he's like he's like I'd rather not you know hey that's my grandpa he's a straight shooter like that and I was like okay well consider getting in gold and um anyway so I have to thinking I was like man grandpa why don't you just consider Bitcoin as a store of value you know he's not a big fan of Bitcoin because he's old money generation but I point that out because Bitcoin just makes sense now here's the thing that kind of frustrates me alright yet makes me on the fence about Bitcoin is do you guys know there's about three million missing coins so of these circulating supply of Bitcoin which is about just under 17 million there's anywhere between two to three million coins that'll never be recovered again even if we go to our Twitter you have this guy here here's just one case in thirteen British IT worker James holwell's threw away a hard drive that contains 7,500 Bitcoin that hard drive worth nearly 100 million dollars remains in a British landfill to this day okay there's countless stories like this there's people who passed away who had Bitcoin there's people who sent Bitcoin and it never got to the wallets so there's just and I don't know the exact number but you can look it up and I don't think anyone fully knows that answer but there's a lot of Bitcoin that's lost forever and you'd have to think over time that scarcity is gonna wind up that's either gonna do one of two things it's either gonna deteriorate the well the liquidity of it is gonna deteriorate for sure but at what point could that make Bitcoin like you're relevant because there's just not enough of it but the scarcity factor could drive up the price so those are two things to kind of keep in mind but I think that so then I start thinking well what about litecoin now here's the thing about litecoin litecoin creating like pay and make it an actual currency it does have a circulating supply of fifty five million with the total supply to be 84 million but maybe litecoin as a store value is something that we should consider especially being that it has always been considered a silver to gold ever since Charlie Lee created it so what are some advantages to Bitcoin and gold right well let's take a look at this if we just look at this here on 99 bitcoins calm so you can go through here they did a fantastic job of outlining a lot of the things that you should know positive aspects of the US dollar it's easy to transfer and storing claim so you could take your dollar store it under your bed store it in your closet whatever in theory it should have the ability to inflate deflate yeah in theory by not having gold tied to its currency it frees the metals to be used for commercial purposes prevents banks from collapsing due to high numbers of withdrawals process of creating fiat and the system loaning debts that it uses also creates the system needed to process transactions debt is money right negative aspects the power and control of the doll or creation of currency is concentrated in the hands of a small group that's what you guys do not like is the centralization of money through the central banks this is one of the biggest problem in my eyes as the data is readily available and extremely clear while the stated mission of the Federal Reserve and Treasury is to ensure anyways I'm not going to read all that okay but you can see there is some concerns USD or any Fiat is only backed by the word of the government index so the government sets the standard which I guess if there was anyone who should set the standard it's better the government than anyone else right I think positive aspects of a gold-backed currency goal has basic value for two reasons it's rare and useful now think about gold that Bitcoin doesn't have well will not have is mining right so I'm talking about real gold mining you know you go to Alaska and then they're Hills you combine them that gold and get in the cave and you know find a gold nugget right and then that just keeps adding and adding we don't know how much gold there is in them there hills in the ground right but we do know that Bitcoin has 21 million and at some point in time in 20 to 30 years that will reach the full capacity of all the Bitcoin that's ever created I don't know the exact timeframe but then there's no more mining with gold you can continue to mine gold it could be under your house right now at some point you know if you just drill straight down maybe there's some gold underneath you so the scarcity of gold for that gold cannot be created right there's no way to fake gold okay it's easy to verify that gold is authentic and relatively pure a gold-backed currency as the dollar once was allows gold to be used without meeting the transport the gold itself right a gold-backed currency is resistant to manipulation by central bank government and other powerful groups gold-backed currency maintains a strong a stable exchange rate for example why the gold standard anyways I'm not going to read all that negative aspects of a gold-backed currency gold backed currency needs to be completely backed by the amount of gold it's said to be to represent yeah you know depending on how much gold research you've done you know how the United States during World War Two took custody of a lot of gold for some countries for safekeeping I want to say Germany just to name one I don't know the exact history behind that but then there's the Fort Knox what into the gold at Fort Knox you know and you guys can comment on all that and put your thoughts on about the gold from Fort Knox that supposedly was there but it's no longer there and then you know you don't know how much gold India China Russia the UK really have right the necessary hoarding of gold to back occur currency keeps it from being used in ways that are actually useful the cost of storing and protecting the gold that backs the currency is a wasteful expenditure that was that safety deposit box expense that I was talking to you guys about with it with a Bitcoin all you need is a hardware wallet right some sort of wallet software I mean it doesn't I don't know how you're gonna store your Bitcoin but hardware wallet seems to be one of the preferred ways as crazy as it sounds there's legitimate chance that gold along with silver platinum and other rare elements will soon be obtainable in large in much larger quantities so they're saying that as mining techniques its strategy pickup it could be possible to extract a lot more precious metals from the earth then we have now which would drive down the price because there would be more gold and value so the scarcity will go away right so that's also something to keep in mind about investing in gold and I'll give you guys these arguments or these positions to talk about because or I show you where you can get these positions to talk about because when you're encountering old money they're gonna throw these at you so here's Bitcoin what's the benefits of Bitcoin Bitcoin has a built-in scarcity that's that 21 million and right now just under 17 million in circulating supply Bitcoin cannot be truly manipulated so there's not really a centralized Bitcoin even though Roger beer he would say a Bitcoin course centralized but then again people would say Bitcoin Kasia sexualize with Roger guarantee ah whoo so we'll see Bitcoin could not be truly manipulated we talked about that Bitcoin transactions are instant well kind of instant right there working on it Bitcoin transactions are irreversible this once is a double-edged sword at least currently this one is a double-edged sword the coin is transparent the reason I can make some some of those transactions above is simple because the is nothing hidden with Bitcoin unlike USD where the inner workings of the Fed and what they will do with the currency or even gold as it is difficult to make an accurate judgment on how much gold is currently a bevel or may become available in the future bitcoins parameters are known so you can come on 299 bitcoins and check this out the URL is Bitcoin goal Bitcoin gold USD bitcoin is the most efficient transaction processing system ever created because the ledger is handled by computers and the way transactions are processed and recorded process is more efficient than any other payment processing system that relies on humans to analyze okay so what is my opinion about the why okay so everyone says gold are you know Bitcoin the problem with Bitcoin is the government you know you don't know where the government's going to take this but here's something that a lot of people don't talk about emt you know there's always that threat yeah I don't know if you guys ever studied like Armageddon or nuclear warfare or anything like that but the the grid you know the grid like we've had solar flares take out grids there's so there's a weaponry you know you got the rod of God which is supposedly a spate of spa Wars thing by the US government I don't know if you know about the rod of God but you can look it up online it's basically a satellite in the sky and yeah but EMP so an electromagnetic pulse so here's the idea in a nation-state that's not friendly to one of the others right flies a satellite overhead so small wars face wars are a big thing everyone talks about the Navy the Marines and everything but back in the 80s Ronald Reagan introduced the space Wars and that's basically using space technology for warfare but fly a satellite overhead explode that thing create an electromagnetic pulse that knocks out the grid what happens to your Bitcoin then so why do I bring that up to create fun now it's that's called common knowledge you can look it up okay I know a lot of you guys understand what I'm talking about so look that up EMP attacks and if you wanted to look up the rod of God and SPAWAR space Wars you can see some of these ideas but how would that affect I mean that the Internet so far has been impenetrable in the sense that it's always been on it's always worked right but it's a cloud essentially all this stuff cryptocurrency all your data and everything all the books being put online it could be wiped forever if something were to happen to the Internet but what will still be here books gold silver you get the point that's why I think it's important to consider diversifying but I put this out there to get you guys thinking to get you guys talking and engaging in conversations because that's where we need to push this conversation with the people the masses the herd and see where this goes follow us on Instagram if you're not already Ultron busts and keep up with us on Twitter also I put a link to our Facebook group you can join here and our telegram group and remember this is Jeff with all coin buzz you can subscribe to this channel and turn on that bell to get notified when videos like this drop we'll see y'all next time

46 thoughts on “Cryptocurrency Market Update – Bitcoin Vs Gold as Store of Value”

  1. There IS a gold backed token, it's called GOLDX by the Hellogold foundation. Please check them out and do a review on that

  2. You can buy GOLDX from hellogold. 100% allocated gold held and insured in Singapore. Is currently available through hellogold.org but will hit the main exchanges in May thus year

  3. If enemies are attacking with EMPs our smallest problem just became lost btc. Now we've got a war to worry about.

  4. Well volatility needs to be talked about here. In a store of value you don't want to lose 50% of that value in a month. I am long on bitcoin but before we start considering this to be a store of value wait until it is way less volatile. The biggest drop in the value of gold within a year was about 27%. A huge drop within the year don't get me wrong, but for Bitcoin I wouldn't be surprised if it dropped 27% from now until the end of the year.

  5. I hodling both bitcoin and gold. I never considered gold as an investment though. More like emergency source of cash if I need it.

  6. EMP can damage power distribution and un-shielded microchips but wouldn't actually erase data stored on HDD and tape.

  7. Paper wallet, problem solved. If something happens big enough to wipe a globally distributed block chain your Bitcoin won't do you much good anyway.

  8. Bitcoin cannot be compared to Gold for the following reasons:
    1) Gold didn't have 1530 competing commodities within 10 years of its discovery
    2) Gold wasn't upstaged by superior alternatives as Bitcoin is (several Altcoins are faster, lower fees and have better tech (Tangle, Hashgraph))
    3) Gold STILL has real-world use after its long existence (jewelry, computers) while Bitcoin could become obsolete when quantum computers become mainstream.
    There are now 1530 "stores of value". So why Bitcoin?
    Thoughts anyone?

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  10. I've been a gold and silver bug my entire life. I invested in stocks, bonds, real estate, IRAs etc. Now, I've gone full throttle in crypto and I've never had so much fun. I say be diverse for all situations. Concentrate on being debt free, living within your means and doing what you love for work.

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  12. Bitcoin Gold (BTG) Price Hits $129.65
    http://bitcoingoldprice.blogspot.com/2018/02/bitcoin-gold-btg-price-hits-12965.html

  13. Bitcoin Etheruem alt coins crypto nation on this v day i just wanted to let you know that I love you. I know that we have been through a lot of good times and bad times. And whether we are going the way of the tulips or to the moon I will always hodl you.

  14. Tbh the comparison of Bitcoin and gold is a bit stupid.
    Two totally different things, but both great to have…

  15. Disagree with you on BTC scarcity creating a liquidity problem.  One bitcoin is not like one gold coin.  A BTC can be divided into 100 million satoshi's as you know.  If someone wants BTC he/she can buy BTC in whatever fraction he/she wants.  Now if you have a goal of owning one single whole BTC, that is something that most will never be able to do.  As long as the cryptography remains unhackable, BTC will probably become even more a store of value than it already is.  At this point I'd rather cross a border with BTC and other cryptos in an account than attempt to hide some gold coins in my luggage.    

    If the power goes and/or the internet goes down, cash, precious metals and valuable goods reign supreme.

  16. I luv man… but your logic is wrong 'bout EMPs. Remember xpto coins are decentralized, therefore not even all the nukes on earth can wipe off the ledgers….. To get even close to erasing all ledgers, a nuke would have had to be detonated at about 10 to 15 miles apart on the entire earth's surface. I mean everyone will be dead, but that beside the point.

  17. Jeff you might as well have added extraterestrials coming to earth from other planets and probing Bitcoin holders..

  18. I have been studying commodities and the dollar for over a decade and feel like silver is the most useful commodity in this world especially because solar power is the future with Elon Musk doing his thing. I would be thoroughly surprised if he hasn't prepared for EMPs and his giga watt factories would help restore power relatively quickly for all our crypto endeavours solving world problems

  19. I have both. More silver then anything. Always collected silver since I was a kid. I love the idea of having bitcoin! gold and silver rounds.

  20. o invest in cryptocurrencies and earn profitable wages you need a strategy that will help you bypass market risk.. The strategy is programmed to optout portfolio when price is low.. It will also sell off or switch to higher cryptocurrencies keeping you on maximized payout.. I have made over $400k with this strategy without losing a dime.. more info contact [email protected]

  21. Jeff, take a look into silver bullion. Its probably the cheapest store of value right now. The current ratio against gold is 80 to 1 and it should be around 12-17 to 1. 😀

  22. Haha those were some pretty specific places you rambled off about the digital nomad. I see you already have your vacations planned out when the profits fly.

  23. Jeff thank you for not ranting too much in this video. (army, college, deployed, dont buy ATH, hodl but consolidate, subscribe, click th bell, how important is twitter, dont blame me, not a financial advisor, its only our desision if we invest, its your money, growing up to do….
    sometimes I feel like im the only mature adult listening to your videos and now you''r no longer teaching me anything, all you do is rant about getting more subs
    Maybe the way you do it IS the ways to get subs, however Ive herd your rant about random stuff so many time and at this point there is no more value for me in your videos.
    Bye Bye Alcoin Buzz

  24. A globally accepted cryptocurrency such as bitcoin operating on distributed ledgers world-wide, would survive an EMP because of the distributed nature of the accountings. Now, the better question is when would you be able to use those bitcoins again? and the answer varies, but most EMP blasts would be singular in nature, and systems would reboot as soon as power companies restored functionality, infrastructure replaced, and nodes able to re-sync to ledgers. Because cryptos transcend nations, I imagine they would definitely survive a quarrel between 2 nations. It would take a more sophisticated attack, or hack, to completely break down the power infrastructure on a more permanent basis.

  25. An emp strike would also wipe out the dollar. Everything is done digitally! Lol. Your bank account would also be gone. That argument is mute.

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