Matthew Lynn - Gold Isn't Only Alternative To Paper Money

 



In an article on Marketwartch, writer Matthew Lynn (@MattLynnWriter) describes how gold’s role as a store of value alternative to paper money will be seeing competition from digital currencies.  Excerpts:
"As the American [dollar] grows in strength — as seems likely given its relative performance compared with the rest of the world — then gold will be less valuable as an alternative."

-"Gold is nothing if not a long-term investment [however] the most important threat is the rise of alternative digital currencies such as bitcoin."






-"As a rival to paper money, gold has had the market to itself. Now it will have competition, and that always drives down the price of any product."
 
-"Financial sophisticates might dismiss digital currencies as a craze. But plenty of other industries have been taken apart by the Internet — there is no reason why the money market should be any different." 

-"In many ways, digital currencies may be a better alternative to paper money than gold."

Source :  http://bitcoinnews.com/