Comment: Gold can't be made

(See in situ)

In reply to comment: If it can be made (see in situ)

Gold can't be made

But tungsten bars can be coated with it. And facilities that store it may steal it by loaning it to other customers -- who sell it to other people who store it, and it's loaned out again -- over and over. Fractional reserve banking isn't limited to fiat currencies. And corrupt commodity markets have allowed JP Morgan and others to sell short massive quantities of gold that they don't actually own. These schemes are prime factors suppressing the price of gold far below its potential value.

I'm still holding back from buying or accepting bitcoins myself because so few people know or care about them -- the acceptance factor is very low. Also I'm waiting to see ALL the bugs worked out of the system, preventing electronic theft. But I can see real advantages to their use over both fiat currencies AND gold. It's becoming less and less safe to cross national borders with significant amounts of gold, and too often selling gold is a taxable event. Bitcoins, not so much.

Recommended reading: The Most Dangerous Superstition, http://www.amazon.com/Most-Dangerous-Superstition-Larken-Ros...