Article from today, The Daily Hodl: Winkelvoss twins and Nick Szabo on why Bitcoin is the better Gold.

Copied because the rest of the article is about shitcoins.

Crypto Mogul: Bitcoin Will Beat Gold’s $7 Trillion Market Cap

Bitcoin

The twin owners of the US crypto exchange Gemini are standing by their bullish outlook on Bitcoin despite the bear market.

In an ask-me-anything on Reddit, crypto mogul Tyler Winklevoss, who runs Gemini with his twin brother Cameron, said he believes Bitcoin is well on its path toward surpassing gold’s market cap of more than $7 trillion.

“Our thesis around Bitcoin’s upside remains unchanged. We believe Bitcoin is better at being gold than gold. If we’re right, then over time the market cap of Bitcoin will surpass the ~$7 trillion market cap of gold.”

If Bitcoin’s market cap surpasses gold, one BTC would be worth about $333,333, once Bitcoin’s total supply of 21 million is in circulation.

Computer scientist and cryptographer Nick Szabo recently explained why he’s on the same page.

“There’s going to be some situations where a central bank can’t trust a foreign central bank or government with their bonds, for example. One solution that’s been developed is to have the Swiss government hold it for you – that’s not a trust minimized solution. The Swiss government itself is subject to political pressures and so a more trust-minimized solution is cryptocurrency.

The other problem with gold reserves is that they’re physically vulnerable. When the Nazis conquered countries in Europe, the first place they went to was a central bank’s gold reserves.”

Submitted January 20, 2019 at 03:16PM by castorfromtheva http://bit.ly/2FDe5kf