This post is a plea to my fellow Gold and precious metal investors to take another look at Bitcoin. We have seen a substantial rise in interest for Gold as of late which has caused many of my fellow Gold and Silver writers to begin writing about the return of the good old days when we were sitting on our mounds of pirate treasure with grins from ear to ear. I admit that I miss those days and so do many of my clients.

The problem is that I do not miss the manipulation of the Gold and Silver markets. It was so blatant, yet we continued to hope that our faith in precious metals would somehow overcome the perpetual attacks on our investments. Personally I am heavy Silver with only a small amount of Gold. Thanks to David Morgan of Silver-Investor and Peter Spina of Silverseek I have continued to stay the course. My assets are also 100% physical which does give me peace of mind.

I have an inherent distrust of the stock market and anything connected to the global economic system. This has led me down the path of alternative investments and entrepreneurship. This struggle to find an alternative investment that was easy to manage, use and outside the global economic system led me to Bitcoin. If you want to know, “My Bitcoin Story” it was a journey of learning. Now four years later I find myself surrounded with Bitcoin entrepreneurs and a community of supportive forward thinking people.

For my fellow precious metal investors you might believe that I have chosen to lay with the enemy. This idea that Bitcoin and Gold can’t coexist happily just goes against everything we have learned about money. I had an amazing week long visit by a hedge fund manager who was looking to learn more about Panama, Bitcoin, buying Gold and how my client VaultMax Global could help his investors. This put me in a position of helping a fellow investor learn about the one piece that was the least understood.

The Bitcoin Education Process.

After multiple meetings concerning buying Gold and storing it securely here in Panama it was time to show him and his team how to use Bitcoin. For those that do not know Panama is home to one of the worlds top Bitcoin wallets, Coinapult. The first thing I did was show him how to open a Bitcoin wallet on Coinapult. It literally took less than two minutes. Then I told him we can go to the Bitcoin CTM across town and make his first transaction. First I showed him how the Mycelium app works when using the Bitcoin CTM. My transaction occurred instantaneously. We then used his online version of Coinapult to load $1,000 worth of Bitcoin to his wallet. Use a mobile wallet when buying Bitcoin at a CTM, it took about 20 minutes for his transaction to go through.

During the week I also took the time to set up multiple wallets for my client, Swiss Metal Asset’s sales team. They had recently returned from Jeff Berwick’s Anarchapulco and were excited to learn how to use Bitcoin. Even the CEO took part and was amazed that transactions could happen so quickly. Now you have to understand that these guys are old school. They are just like many of you and believe in hard assets. The team are also happy to announce that they will soon be accepting Bitcoin for all purchases of Gold, Silver and Strategic Metals. The key was showing them the process from beginning to end, then the light bulbs went on.

Gold VS Bitcoin as Money.

Now our friends at Miles Franklin published an article a few years back that outlined the, “7 Characteristics of Money”. The seven characteristics will always be true.

(1) It must be durable, which is why we don’t use wheat or corn or rice.

(2) It must be divisible, which is why we don’t use art work.

(3) It must be convenient, which is why we don’t use lead or copper.

(4) It must be consistent, which is why we don’t use real estate.

(5) It must possess value in itself, which is why we don’t use paper.

(6) It must be limited in the quantity that is available, which is why we don’t use aluminum or iron.

(7) It should have a long history of acceptance, which is why we don’t use molybdenum or rhodium.

Only GOLD and SILVER fit all seven characteristics.

When I look through this list of the 7 characteristics of money the only one that I think Bitcoin falls short in is that it has been around for less than a decade. Some of you will argue that something digital does not possess value in itself which means Bitcoin will fail the test. I have often heard a similar argument that Gold is a barbaric relic that only has value because humans perceive it as being valuable. Unlike Silver, Gold is primarily used as a store of value. Now think about that for a second, Bitcoin users feel the same.

Gold VS Bitcoin Against Each Other?

What do you think of my ratings for Gold and Bitcoin? I personally think they match up pretty well as money. The great thing for Bitcoin is that things will only get better as the decentralized crypto currency world expands. We are also seeing companies adopt Bitcoin as a form of payment for services. I have a concern about consistency due to the swings in value but Gold has been just as volatile lately. Convenience is also a concern until Bitcoin goes more mainstream. I remember a few months ago I had a hell of a time buying Bitcoin. All it took was a little education.

Bitcoin Consultant

Thanks to the Hedge Fund manager that recently visited us in Panama I now have a new title, Bitcoin Consultant. If you or your business need help learning about Bitcoin feel free to bring me on as your consultant. I charge a small fee, but if you are serious, it will be worthwhile. Don’t forget that I am the guy to talk to about buying Gold and storing it in the Panama Pacifico tax free zone. VaultMax Global is my client and I am happy to help you set up your storage with them.

Links to Bitcoin Wallets.–>

Coinapult Located in Panama.

Coinbase Located in the USA.

http://www.randyhilarski.com/