Gold, Bitcoin, And Metcalfe’s Law

http://www.zerohedge.com/news/2017-10-23/gold-bitcoin-and-metcalfe%E2%80%99s-law

In one such poll, attendees overwhelmingly said the gold price would skyrocket in the event of a conflict involving nuclear weapons. Bitcoin, meanwhile, would plummet, according to participants—which makes some sense. As I pointed out before, trading bitcoin and other cryptos is dependent on electricity and WiFi, both of which could easily be knocked out by a nuclear strike. Gold, however, would still be available to convert into cash.”

“Metcalfe’s law states that the bigger the network of users, the greater that network’s value becomes.

Robert Metcalfe, distinguished electrical engineer, was speaking specifically about Ethernet, but it also applies to cryptos. Bitcoin might look like a bubble on a simple price chart, but when we place it on a logarithmic scale, we see that a peak has not been reached yet.

“Bitcoin adoption could multiply the more people become aware of how much of their wealth is controlled by governments and the big banks."