“Bitcoin is a store of value,” stated Chris Mancini, an Analyst at Gabelli Gold Funds. However, unlike several critics who asserted that the coin was a tool for criminals because of its “anonymity”, Mancini remarked that the coin was corrupted because it is a “creation of man”, unlike gold, which is a “creation of God”.
Bitcoin [BTC] often referred to as Digital Gold was yet again placed in the limelight along with Gold. In an interview with Kitco News, Chris Mancini spoke about the digital currency, in comparison to gold. The discussion on the topic began by Mancini stating, “Bitcoin […] it’s a store of value. I mean, it’s kind of a thing you can’t necessarily be replicated in its current form.”
This was followed by the analysts speaking about the “issue with Bitcoin”; first was that Central Banks were not going to buy the Bitcoin and second was the “concept of forks”. Mancini stated that Central Banks such as the Chinese Central Bank and the Russian Central Bank was buying gold, adding that they would not buy Bitcoin. He further stated that the “crazy” thing about the cryptocurrency was its forks, such as Bitcoin Cash and Bitcoin Gold.
“[…] the concept of coming in and buying a gold coin down the street, putting it in my socks and having another gold coin one day, that’s crazy. So, that just can’t happen. But, with Bitcoin, you can. You can have another peice of Bitcoin, created off of Bitcoin […]”
Mancini further stated,
“So, the big picture is that Bitcoin has been corrupted. It’s been corrupted because it’s a creation of man and gold cannot be corrupted because, Gold is a creation of god.”
Further, when asked about his view on Bitcoin, whether it was a safe haven or a currency, Mancini stated that the Bitcoin was a means of payment. He also spoke about the other cryptocurrencies that were backed by physical metals, stating that it was “just another way” for individuals to buy metals, with the use of blockchain technology, which according to him “is great”.
Jameson Lopp stated on Twitter,
“Prove that Satoshi Nakamoto is a human and not an artificial intelligence from the future. I’ll wait.”
@BollingDain, a Twitter user stated,
“If God created Man in his own image, and Bitcoin was created by Man, then Bitcoin is one Holy Creation.”
Stevie J, another Twitter user said,
“gold was created by stars gone supernova, this has been proven by science and should be the end of discussion. If god created the conditions for gold to be created; he did the same for BTC.”
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