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“Bitcoin is a store of value,” said Chris Mancini, an Analyst at Gabelli Gold Funds. But unlike many critics that claimed that the coin was an instrument for offenders due to its”anonymity”, Mancini commented that the coin has been tainted because it’s a”generation of man”, unlike gold, that can be a”generation of God”.
Bitcoin [BTC] frequently known as Digital Gold was again set in the limelight together with Gold. In a meeting Kitco News, Chris Mancini talked about the electronic money, compared to gold. The conversation on the subject began by Mancini saying,”Bitcoin […] it is a store of value. I mean, it is sort of something you can not always be duplicated in its present form.”
This was followed by the analysts talking about the”problem with Bitcoin”; first was Central Banks weren’t likely to get the Bitcoin and next has been that the”concept of championships”. Mancini said that Central Banks like the Chinese Central Bank and the Russian Central Bank was purchasing gold, including that they wouldn’t purchase Bitcoin. He further said that the”mad” thing concerning the cryptocurrency has been its forks, including Bitcoin Cash and Bitcoin Gold.
“[…] that the notion of coming in and purchasing a gold coin farther down the road, placing it into my socks and getting another gold coin daily, that is crazy. That simply can not happen. However, with Bitcoin, you are able to. You’ll have yet another peice of Bitcoin, made from Bitcoin […]”
Mancini further said,
“Therefore, the big picture is that Bitcoin was tainted. It has been tainted because it is a creation of gold and man cannot be corrupt since, Gold is a production of god”
Further, if asked about his perspective Bitcoin, if it was a safe refuge or a money, Mancini said that the Bitcoin was a way of payment. In addition, he talked regarding the other cryptocurrencies which were endorsed by bodily metals, saying that it had been”another manner” for people to purchase metals, with the usage of blockchain technologies, which according to him”is excellent”.
Jameson Lopp said on Twitter,
“Prove that Satoshi Nakamoto is an individual rather than an artificial intelligence in the foreseeable future. I will wait.”
@BollingDain, a Twitter user said,
“If God created Man in his own image, and Bitcoin was made by Man, subsequently Bitcoin is just one Holy Creation.”
Stevie J, yet another Twitter user stated,
“golden was made by stars gone supernova, this has been demonstrated by science and needs to be the end of debate. If god created the conditions for gold to be generated; he did exactly the exact same for BTC.”