Welcome to GoldBitcoin.org, where the goal is to educate the public about bitcoin and other cryptocurrencies, as well as alternative forms of money such as gold and silver. Bitcoin is a decentralized digital currency promoting anonymity and reducing fees for transactions compared to traditional payment processors. Bitcoin transactions are made public on what’s called the “blockchain” and are confirmed by many computers all over the world. Because the maximum number of bitcoins that can be created is 21 million, the digital currency has the advantage over traditional, or fiat, currency in that it cannot be inflated into oblivion, as has happened to many paper currencies throughout history. Because of the finite number of bitcoins in existence and the growing interest in the digital currency, the price can potentially move substantially higher due to the forces of supply and demand.
Like bitcoin, gold is limited by a finite supply due to its scarcity and the resources required to mine it. Because of its scarcity and unique qualities, gold is universally recognized as money. When confidence in fiat currencies declines, gold tends to rise in value. Gold is thus regarded as a hedge to inflation. While gold lacks a theoretical fixed supply as with bitcoin, the difficulty and cost to extract it from the earth’s crust means the global supply grows steadily at one to two percent annually. As with bitcoin, gold allows savers and investors to accumulate wealth irrespective of central bank shenanigans to tinker with the money supply and ultimately devalue fiat currencies. Another similarity shared with bitcoin is that there is no requirement to report the ownership of gold to any democratic government. The ability of savers and investors to purchase gold without having to report it prevents the possibility of confiscation or retaliatory conduct against those who prefer an alternative, or competing, form of money.
Silver, referred to as the “poor man’s gold,” is another popular alternative investment. Like gold, silver is a precious metal, though significantly cheaper due to its greater supply within the Earth’s crust. Historically, the gold to silver ratio — that is, the price of gold relative to silver, has been roughly 15 to 1, meaning gold has been 15 times more expensive than silver by weight. Today the ratio is 75 to 1, making silver especially attractive to investors seeking value.
Currently, we are on the cusp of a technological revolution in which the masses are beginning to have greater choice as to which currencies they can use. The days of people being forced to submit to the will of major central banks, with conflicts of interest, are about to end. Given the rapid innovation in the cryptocurrency sphere, savers can once again be rewarded rather than seeing their hard-earned money diminish in value as central banks print paper currencies into oblivion.
For those who are interested in gold cryptocurrencies, we have a new article about GoldMint, which will issue the GOLD or MNT token. With GoldMint, investors will be able to invest in gold and a cryptocurrency simultaneously. Investors must do their own due diligence to determine if GoldMint is a worthy investment.