The Gold Show is for entertainment purposes only and not financial advice.
"The owner of this website may be paid to recommend American Bullion or other Affiliates.
The content of this website, including the positive review of American Bullion or other Affiliates,the negative review of its competitors, and any other information may not be independent or neutral"
Paste URL here
The Gold Show is for entertainment purposes only and not financial advice.
Bitcoin vs Gold
Cryptocurrencies are all the rage at the moment.Â But it can be hard for an investor to get their head around them.Â As a new technology it is unregulated but still has an impact on finance.Â Its effects on the stock market and fiat currency are beginning to be seen.Â But will it also affect gold?
Digital currencies seemed like an inevitability, but their growth over the last couple of years has been so astronomical it has taken the world by surprise.
The improvements to online security and the ease of online payments via Near Field Technology means that the lack of physical currency is actually a benefit to people and reduces risk.
Technologies that were nothing more than ideas ten years ago, like contactless payments from your phone, are now a reality.Â In a constantly evolving technical world, banking and finance were always going to be an area of opportunity for new tech.
So what is Bitcoin?
Bitcoin is an ever-growing ledger of public transactional data that is anonymous.
While traditional banking methods of moving funds require your bank to verify your funds, hold your funds and remove funds from your balance to pay others, all of this is done on the basis that you trust the bank fully.
Bitcoin replaces the need for your bank to do all of that and operates without interference.Â Bitcoin âminersâ take the transactional data and authorise the payment.Â These miners then bundle them up with other transactions to ensure the data is safe and encrypted (basically hiding the data with a lot of other data) and in return, these miners are paid in Bitcoin.
As a safeguard, other miners then take this data to verify the transaction isnât a duplicate and that the person spending Bitcoin isnât spending the same one twice.
Simply put, cryptocurrencies, like Bitcoin, use a decentralised technology (blockchain) to let people make payments and store money securely and anonymously.
This whole process takes an incredible amount of processing power and electrical energy to do.
There are many who question why this was needed at all, and what is really so wrong with the banking system?
The simple answer is, data protection has become such an important issue to everyday consumers, and rightly so. Â With the recent revelations such as the Facebook and Cambridge Analytica data breaches, people want to know that their personal data is safe, particularly when it comes to their finances.
Cryptocurrencies like Bitcoin help bring that security to people's financial data.
Bitcoin and cryptocurrencies, in general, have a bit issue with price instability at the moment, however.Â In the last two years alone bitcoin has seen highs of 74,000 and lows of 3,925 which is an incredibly big swing.
This volatility is caused by a lack of regulation and the popular culture influence of FOMO (fear of missing out), as well as government interference and the continued fear of hackers and theft.
National governments have begun getting involved, banning the initial coin offerings in some countries and banning the trading of cryptocurrency in others.
Cybercrime is another problem for cryptocurrencies, and millions of dollars worth of crypto have been lost since 2010.Â The primary fear is that if a company holding cryptocurrency is breached will companies be able to repay the losses to investors?
The final risk is cryptocurrency's prevalent use on the black market for all sorts of illicit and illegal dealings.Â Anonymity in transactions is ideal for them, and governments are working hard on cracking down on this.
News of this sort of activity reaches consumer's ears, however, and damages the reputation of cryptocurrencies.
There is no doubt that Bitcoin and other cryptocurrencies will continue to grow in popularity, and the blockchain technology it is built on is here to stay and will be an essential part of the future of data management.
For the moment, however, there is an awful lot of risk associated with investing in Bitcoin, and for the savvy investor looking for more security, our old familiar gold is still the way to go.
Disclaimer: This is not financial advice.
Last updated: November 27, 2020
The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.
While using Our Service, We may ask You to provide Us with certain personally identifiable information that can be used to contact or identify You. Personally identifiable information may include, but is not limited to:
Usage Data is collected automatically when using the Service.
Usage Data may include information such as Your Device’s Internet Protocol address (e.g. IP address), browser type, browser version, the pages of our Service that You visit, the time and date of Your visit, the time spent on those pages, unique device identifiers and other diagnostic data.
When You access the Service by or through a mobile device, We may collect certain information automatically, including, but not limited to, the type of mobile device You use, Your mobile device unique ID, the IP address of Your mobile device, Your mobile operating system, the type of mobile Internet browser You use, unique device identifiers and other diagnostic data.
We may also collect information that Your browser sends whenever You visit our Service or when You access the Service by or through a mobile device.
Cookies can be “Persistent” or “Session” Cookies. Persistent Cookies remain on Your personal computer or mobile device when You go offline, while Session Cookies are deleted as soon as You close Your web browser. You can learn more about cookies here: All About Cookies by TermsFeed.
We use both Session and Persistent Cookies for the purposes set out below:
Purpose: These Cookies are essential to provide You with services available through the Website and to enable You to use some of its features. They help to authenticate users and prevent fraudulent use of user accounts. Without these Cookies, the services that You have asked for cannot be provided, and We only use these Cookies to provide You with those services.
Purpose: These Cookies allow us to remember choices You make when You use the Website, such as remembering your login details or language preference. The purpose of these Cookies is to provide You with a more personal experience and to avoid You having to re-enter your preferences every time You use the Website.
The Company may use Personal Data for the following purposes:
We may share Your personal information in the following situations:
The Company will also retain Usage Data for internal analysis purposes. Usage Data is generally retained for a shorter period of time, except when this data is used to strengthen the security or to improve the functionality of Our Service, or We are legally obligated to retain this data for longer time periods.
Your information, including Personal Data, is processed at the Company’s operating offices and in any other places where the parties involved in the processing are located. It means that this information may be transferred to â and maintained on â computers located outside of Your state, province, country or other governmental jurisdiction where the data protection laws may differ than those from Your jurisdiction.
Under certain circumstances, the Company may be required to disclose Your Personal Data if required to do so by law or in response to valid requests by public authorities (e.g. a court or a government agency).
The Company may disclose Your Personal Data in the good faith belief that such action is necessary to:
The security of Your Personal Data is important to Us, but remember that no method of transmission over the Internet, or method of electronic storage is 100% secure. While We strive to use commercially acceptable means to protect Your Personal Data, We cannot guarantee its absolute security.
We have no control over and assume no responsibility for the content, privacy policies or practices of any third party sites or services.
These Website Standard Terms And Conditions (these âTermsâ or these âWebsite Standard Terms And Conditionsâ) contained herein on this webpage, shall govern your use of this website, including all pages within this website (collectively referred to herein below as this âWebsiteâ). These Terms apply in full force and effect to your use of this Website and by using this Website, you expressly accept all terms and conditions contained herein in full. You must not use this Website, if you have any objection to any of these Website Standard Terms And Conditions.
Other than content you own, which you may have opted to include on this Website, under these Terms, Goldbusters and/or its licensors own all rights to the intellectual property and material contained in this Website, and all such rights are reserved. You are granted a limited license only, subject to the restrictions provided in these Terms, for purposes of viewing the material contained on this Website.
You are expressly and emphatically restricted from all of the following:
Certain areas of this Website are restricted from access by you and Goldbusters may further restrict access by you to any areas of this Website, at any time, in its sole and absolute discretion. Any user ID and password you may have for this Website are confidential and you must maintain confidentiality of such information.
In these Website Standard Terms And Conditions, âYour Contentâ shall mean any audio, video, text, images or other material you choose to display on this Website. With respect to Your Content, by displaying it, you grant Goldbusters a non-exclusive, worldwide, irrevocable, royalty-free, sublicensable license to use, reproduce, adapt, publish, translate and distribute it in any and all media.
Your Content must be your own and must not be infringing on any third partyâs rights. Goldbusters reserves the right to remove any of Your Content from this Website at any time, and for any reason, without notice.
This Website is provided âas is,â with all faults, and Goldbusters makes no express or implied representations or warranties, of any kind related to this Website or the materials contained on this Website. Additionally, nothing contained on this Website shall be construed as providing consult or advice to you.
In no event shall Goldbusters , nor any of its officers, directors and employees, be liable to you for anything arising out of or in any way connected with your use of this Website, whether such liability is under contract, tort or otherwise, and Goldbusters , including its officers, directors and employees shall not be liable for any indirect, consequential or special liability arising out of or in any way related to your use of this Website.
You hereby indemnify to the fullest extent Goldbusters from and against any and all liabilities, costs, demands, causes of action, damages and expenses (including reasonable attorneyâs fees) arising out of or in any way related to your breach of any of the provisions of these Terms.
If any provision of these Terms is found to be unenforceable or invalid under any applicable law, such unenforceability or invalidity shall not render these Terms unenforceable or invalid as a whole, and such provisions shall be deleted without affecting the remaining provisions herein.
Goldbusters is permitted to revise these Terms at any time as it sees fit, and by using this Website you are expected to review such Terms on a regular basis to ensure you understand all terms and conditions governing use of this Website.
Goldbusters shall be permitted to assign, transfer, and subcontract its rights and/or obligations under these Terms without any notification or consent required. However, you shall not be permitted to assign, transfer, or subcontract any of your rights and/or obligations under these Terms.
These Terms, including any legal notices and disclaimers contained on this Website, constitute the entire agreement between Goldbusters and you in relation to your use of this Website, and supersede all prior agreements and understandings with respect to the same.
These Terms will be governed by and construed in accordance with the laws of the State of UK, and you submit to the non-exclusive jurisdiction of the state and federal courts located in UK for the resolution of any disputes.