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Gold, Silver and the Gathering Crypto Currency Storm

Much controversy surrounds comparisons involving valuable metals and the growing number of crypto currencies. In some ways an ideological leash has shaped between hard strength investors and also the most outspoken of digital money advocates. While both investment options remain relatively sequestered from the mainstream spotlight, they both provide interesting perspectives for understanding the continuing monetary and fiscal crisis.
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Crypto Storm

The growth of decentralized, anonymous, and freely traded digital currencies has worked its way to the media and technology.

Even though Bitcoin, is the poster child, having gained the most attention and participation, there are almost 100s of other much smaller currencies and more being developed all of the time.

The Rising Tide of Social Media

The civilization of social websites will continue to play a major part in the rise of the a few of the monies. They signify another tier of trade within a media format which has the capacity to foment revolution.
Most new forms of media are fairly simple to criticize. Social networking has it’s issues. The inherent lack of privacy and a thin the line emerging between the mainstream media’s manipulation and the usefulness of delivering pertinent information versus entertainment and therefore propaganda as an expansion of general public relations and promotion.

The Currency of Social Media

Many of the newer e-currencies are introduced right leveraging social media. Clearly they begin of small, but a lot of them can be collected via sites that offer coins for free. These so called crypto-faucets efficiently seed new mine production. Many are used as tokens given as reward or tip for posting newsworthy or entertaining content on sites, forums, or even on other social networking stations.
Some see these methods as a shadow of those utilized in promoting penny stocks and almost all share substantial and often wild price volatility.

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Controversy almost matches

100s of fresh crypto currencies have been created. Many correlated with the societal networking phenomenon, yet they’ve not quite reached into the mainstream concerning awareness, and notably adoption.

Early adoption – volatility

Bitcoin is just one of many and appears to be the most popular for the time being. In some ways it’s Naturally the focus of ridicule and criticism. Observers are quick to compare its recent rise to a frenzy, and both swift at pointing out its use in the digital black market.
Store of Wealth and Properties

The contrast between the relative “ideal” monetary features of the precious metals versus crypto money can be a divisive exercise. However, if the comparison in includes fiat currency, it grows more compelling.

Finite Supply – precious metals and many crypto possess a restricted source. The purest will assert that precious metals are a lot more omnipresent than often assumed, but we simply don’t have the energy or technology to efficiently identify and mine metals from the ocean floor.

Portability – all three options are generally mobile, though for the individual, moving considerable quantities of silver and gold into a certain extent may get difficult or more expensive.
Fungible – all three are fungible.

Non-forgeable – that the fiat dollar is the only one of those three that’s capable of being forged.
Divisible – all kinds are basically divisible.

Privacy – precious metals, but notably crypto money are private in the sense that ownership can be essentially concealed.
Acceptance – the dollar and precious metals are widely accepted – though from the developed world valuable metals are somewhat more indirectly accepted. Crypto monies have yet to achieve significant acceptance and this is the significant factor preventing its widespread endorsement. Although the trend is likely to grow.

Confiscation and theft immunity – both precious metals and fiat currency are relatively more susceptible at this point to theft and/or confiscation. The technology and software code capable of breaking up the cryptographic signature for the newest electronic currencies is impressively difficult to come by.

Durability – by it’s very nature, the dollar would be the least durable of the three, and comparative lack of adoption and newness places makes durability and gray place for e-currencies.

Acceptance is the main one key limiting factor separating crypto money from monetary status or store of value. It is hard to imagine widespread approval given the barriers to acceptance. A certain quantity of savvy, from technological capacity, to the infrastructure required for its own spread.

Really, following a recent visit to South America, and interacting with all the many of the financial elite, it’s apparent that widespread adoption is a time away.

Nevertheless, social media could ultimately provide the trigger for fast adoption.

Relatively speaking, and while not necessarily a requirement for monetary status, acceptance of precious metals surely displays a robustness that surely crypto currencies along with the fiat dollar (even as reserve currency) do not have based on tradition and time.

Policy also interferes with that which might be a more widespread adoption, but generally for the normal man, the employee, there’s been a serious lack of ability to deal with any and all technological and competitive challenges.

Money Velocity

Volumes can quickly explode, and many of these currencies will see huge percentage moves an increasing number of people looking for return become aware.

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