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.
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.”
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Crypto is still shaking up the financial world, and the latest players in this space…
Discover why BlockDAG (BDAG) is emerging as a strong competitor to Kaspa (KAS) with its…
With financial inclusion and customer-first on top of mind, founded in 2018, BitMart is a…
Finding the best crypto to join right now can feel like searching for a gem…
In a release on the X platform, SOON—Solana Optimistic Network, a premium Rollup stack project—announced…
Logan Paul has consistently ranked among the highest-earning YouTubers worldwide. In this article, let's explore…
This website uses cookies.