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Old 02-03-2019, 09:04 AM
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Maserschmidt is offline
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Join Date: May 2009
Location: New England
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Quote:
Originally Posted by Jonathan Chance View Post
While I think the bitcoin thing is dumb and founded on an enormous misunderstanding of finance and economics, the holding issue isn't really that unusual, Chronos.

It's possible these days to buy gold in large quantities. But what you GET when you do so is a certificate that you own, say, 10 pounds of gold held in bank XYZ located in NYC or London or whatever. Generally, you don't actually take possession of the gold itself. So the model of bitcoin 'holders' isn't that far off the reservation.
Except those intermediaries you buy gold through are regulated and subject to audit. Thatís a big difference.