Gold has an advantage over Bitcoin, says analyst Max Keizer

Charlie Taylor

Long-time Bitcoin enthusiast Max Keizer says gold has a unique advantage over the world's leading market capitalizer. In a recent interview with Daniela Cambone of Stansberry Research, the Wall Street veteran admits that, despite being a supporter of Bitcoin, gold is superior to Bitcoin in the aspect of being a malleable asset that retains its properties while also changing shape and providing anonymity to its owner.

“The only attribute that gold has that Bitcoin does not have at the moment is fungibility. Gold is fungible to an extent that Bitcoin is not. Fungibility means that you can melt your gold and reshape it in some other different way and it maintains its integrity as gold and is completely anonymous.It is completely fungible. Bitcoin, because it is digital, because it is a public blockchain, because it is transparent, you do not have the same fungibility. ”

By traditional economic definitions, Bitcoin is not 100% fungible because each currency has a different history that everyone can verify, unlike gold, which can take on an entirely new form after being melted. According to Keizer, the lack of confidentiality in the Bitcoin blockchain is probably the reason why criminal activity using BTC has decreased dramatically, with most criminals preferring money or other assets.


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“This is why the criminal use of Bitcoin has become extinct. It has recently been estimated that (in) criminal cases worldwide, 1% or 1.5% use Bitcoin, and that number in the last 5-9 months has dropped to less than 1%. crime is a bad idea because you can access the publicly visible blockchain. It is completely transparent and they track criminals, so criminals are not using Bitcoin. They are using money or they may be using gold. It is much more fungible. ”

Former Central Intelligence Agency director Michael Morell recently published a letter suggesting that criminal activity is indeed flowing from the Bitcoin blockchain for cryptocurrencies with enhanced anonymity, such as Monero.

"Based on our research, I came to believe that if there was a financial ecosystem for criminals to use that would maximize the police's chances of identifying them and their illicit activities, it would be the blockchain," said former CIA Michael Morell.

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