Friday, September 21, 2012

Bitcoin, Gold and Competitive Currencies

You don't want to miss this thought-provoking James Turk interview with economist and trader Félix Moreno de la Cova.

Gold is simply analog bitcoin and, as gold bugs become more aware of that fact, two things will become more apparent. First, that specie-backed digital currencies will always be subject to trust in the custodial issuer, and more importantly, trust that the specie won't be confiscated or seized. Second, a transfer of wealth from national currencies to cryptocurrencies is occurring which will dwarf the transfer of wealth occurring in the precious metals sector. Enjoy.

For further reading:
"Ding, Ding, Ding! James Turk Gets It!", BitcoinMoney, September 20, 2012
"GoldMoney: James Turk in conversation with Félix Moreno de la Cova", Bitcoin Forum, September 14, 2012

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