Quantitative analyst PlanB is unveiling one property of Bitcoin (BTC) that makes it harder to manipulate than gold.
In a new interview, the pseudonymous trader tells YouTuber Robert Breedlove that gold’s intrinsic properties make it difficult to physically collect.
According to PlanB, vault and insurance costs can run about 1% of a gold collection’s value each year, and expensive transportation fees can add to those costs.
He notes that Bitcoin does not have these disadvantages due to its hyper-portability.
“So gold has this very intrinsic thing where you’d rather have the paper gold than the physical gold. But Bitcoin doesn’t have that disadvantage that gold has. The delivery is easy. The delivery is fast. The delivery is cheap, and holding it is so superior to holding gold.
But once it is illegal or made impossible to withdraw gold, then that opens the door to manipulation, because then it’s basically a fiat world, and it’s very comparable to 1971, when Nixon basically said, ‘Well from now on, you cannot withdraw the gold anymore.’”
PlanB notes that he uses exchanges for selling and buying Bitcoin but not for custody. He says there’s a risk that traders could at some point be prohibited by governments from physically withdrawing their Bitcoin to personal storage.
“Once that aspect of Bitcoin is lost, then Bitcoin is lost in my view…
Right now, that [hyper-portability] makes Bitcoin manipulation very hard versus gold manipulation which is very easy.”
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The post Bitcoin Is Harder To Manipulate Than Gold, Says Analyst PlanB – Here’s Why appeared first on The Daily Hodl.
