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Tuesday, 1 January 2019

Bitcoin On Track To Replace Gold As The Main Store Of Value

Bitcoin to replace gold as a store of value www.fly4studycm.com
Bitcoin is actually on its way to replace Gold as the dominant store of value as its market cap stand tall above that of silver.

Kerner Lou told bloomberg, "Today, the main store of value is Gold. It is an $8 trillion [Market]. Bitcoin today is around $60 Billion having an opportunity to actually replace Gold as the dominant store of value.

Kerner is the Founding partner of the New York-based CryptoOracle, said despite the current bear market, crypto would be a far more disruptive technology than the internet. " The disruption will be more than what we saw from the internet." Kerner's predictions.

Bitcoin like Yahoo of its days. In 20 years bitcoin will have created trillions of dollars in value similar to how the internet has "He insisted" we are at the very beginning today.


When asked why a huge bear in bitcoin price from $19500 in December, 2017 Kerner said its because the market got ahead of itself due to unchecked capitalism. Virtual currencies and blockchain would eventually prove that they are far more revolutionary than first imagined

Kerner from his explanation means that the impact of cryptocurrency and blockchain won't be known until 20 years into the future.

Why do you think Gold will be replaced by Bitcoin?

He elaborated on his stance that bitcoin or btc would replace gold as a store of value, Kerner said gold had a good run, but it's time to step aside. Gold has had 5000-year run. If you look at the history of currencies over time, 100% of them until 400 years- went to zero.

According to him Dollar is a Ponzi scheme and that's how governments work. No body thinks we're ever going to pay back the debt that we have. We're never going to pay back $20 trillion plus dollars of debt. The only thing that has held up over time is gold. That's your store of value.

Currencies degrade over time and eventually go to zero, so $8 trillion is stored in gold, $60 billion for Bitcoin and $50 for silver. So it stand tall above Silver as a store of value.

Critics from financial analysts claim that bitcoin is not a store of value, not a medium of exchange and not universally accepted but tech billionaires like Jack Dorsey, Twitter CEO, Peter Thiel, Paypal Co-founder and Tech Venture Capitalist Tim Drapper are confident that bitcoin will ultimately displace all other currencies.

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