PlanB: Bitcoin is harder to manipulate than gold
Quantitative analyst PlanB reveals a property of Bitcoin that makes it harder to manipulate than gold.
In one interview The trader recently told YouTuber Robert Breedlove that gold’s intrinsic properties make it difficult to acquire physically.
According to PlanB, insurance and storage costs can account for about 1% of the value of a gold collection each year, and expensive shipping costs can add to those costs.
He noted that Bitcoin does not have these disadvantages due to its ultra-portability.
“So bitcoin doesn’t have the downside that gold has. Shipping is easy, delivery is fast at a super cheap cost, and storage is far superior to gold.
But once it’s illegal or impossible to withdraw gold, that opens the door to manipulation, because then it’s basically a fiat world, and it’s very much like 1971 when Nixon said, ‘You can’t gold from now on stand out more.’”
PlanB notes that it uses exchanges to sell and buy bitcoin, but not for custody in case the government might eventually ban bitcoin withdrawals to private storage.
“I believe that’s the aspect that can affect bitcoin, but right now its ultra-portability compared to gold makes it very difficult to manipulate bitcoin.”
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