BUCS vs. Bitcoin

Comparing BUCS vs. Bitcoin and other crypto currencies

Let's be clear about something from the start: Bitcoin is a speculative play! Digital image of value. That is all what it is, nothing more. Some people call it asset and we can accept that but cautiously.

For starters biggest difference between BUCS and Bitcoin is that BTC does NOT have any intrinsic value! It is a small digital file comprising of few tens bytes of data. That is all there is! Paper money is value because Government says it is and it is a legal tender accepted as such. Bitcoin is hardly recognized by Governments thus it is not regulated and accepted as universal value for monetary transactions.

So how come that Bitcoin is so expensive and perceived as value or investment? In reality person can't really buy anything with Bitcoin so only reason why people buy it is because they believe somebody else will want to buy it off tomorrow or in some amount of time. It is called a "greater fool concept". Goal is to sell BTC for more than purchase price was and make a lot of (paper) money with it.

Holding BTC and never selling it does not make much sense. Problem is that nobody knows how much will BTC worth next week, next month or in 10 years. We won't even go for tens of years. BTC is digital file. In days or weeks there may be another digital currency out there. How about Altcoin, Litecoin, Etherium ... who can possibly keep count? At this time there are about 1400 different digital currencies. Each new digital currency sounds promising to be next "big thing" and yet again people flock to them.

Also Bitcoin may be it's own enemy. It became relatively easy to setup and launch yet another "new" digital currency. Speculators run to those "opportunities" like bees on honey ... until there is new one just being released.

Similarly to Ponzi scheme only early creators and adopters really earn something out of nothing. But they don't earn it by holding for a long time. Quite opposite, they sell rather quickly into the stream of incoming "investors". Funny part is that Bitcoin hoarders are quite happy to get fiat money they are bashing every day and at every opportunity!

Bitcoin is very volatile. Skyrocketing and dropping as a rock. Few weeks ago 1 BTC was 20000 dollars, in few days $6000, week after that $8320. At the time of this writing BTC is $7400. So volatility is a theme of the day for Bitcoin. That makes it undesirable as method of payment for any transaction and puts merchant into speculation mode. No merchant wants to be there, gambling with digital file that worths 250 dollars today or 310 dollars or may actually worth nothing next week.

Supposedly BTC transactions cost are fast and cost next to nothing. That would be truth if both sides of transaction want BTC as a final result. But that is never the case. Usually recipient will want to exchange BTC to let's say dollars or Euros. Here things become complicated. Recipient has to have account with Bitcoin exchange and put it up for sale. BTC is sold there, sometimes fast but more often slow. There is already loss. Next one is when recipient wants his money transferred to his bank account so he can spend it. That costs money as well. Another fee to pay. Cumbersome process to do. From the moment seller sends Bitcoin to the moment buyer gets it, exchanges it for paper money, gets it in his account or card maybe days after. That is hardly quick and loss free transaction.

Starting up own wallet take few minutes to accomplish. One is ready to participate in digital currency world quite easily. Opening brokerage exchange account is quite different story. Selecting proper exchange is risky proposition in it's own right. Opening actual account is right out nightmare. One has to be ready to provide a lot of personal information and proofs in order to have account setup. Without it you can't get regular currency. Anonymity is completely thrown out of the window in that process.

Actually, as people who are into software and encryption we value blockchain as most valuable part of the Bitcoin system. Incidentally that is not part that really stands out or brings up value in BTC. It is definitively software marvel but lives in the background. They say that it is non centralized system meaning that anybody and everybody can see it and control it. How is that good? Isn't main premise of Bitcoin that supports anonymous, untraceable and completely private transactions?

BTC is great, power to the people, but whom do you call when there is a problem? Remember Mt. Gox the biggest BTC exchange that was brought down by hackers? Bitcoin holder's money disappeared without trace and nothing happened to anybody. They quietly closed the door and that was that.

CONCLUSION

Gold (precious metal) is a chemical element of atomic value 79. It has intrinsic value in every little bit. It not only holds it but rather increases in value throughout thousands of years. It is very scarce with world production dropping since most of the available gold is already mined. It can't be physically destroyed. We will not describe all features of gold but it has self evident tangible properties.

In our view there is no even comparison between BUCS, Bitcoin or any other digital currency! It's like having a bottle of water in one hand and digital file representing a value of bottle of water in other hand. What would you rather have??... Exactly!

Gold and silver were present long before and will be present for very, very long time after every paper currency turns into dust, or in case of digital currency into literally nothing. Gold simply can not disappear. 

Maybe you are toying with idea of investing into gold ETFs, derivatives or other "great" Wall Street inventions. They will gladly sell you "right to gold" but conveniently forget to tell you that same paper is issued to another 1000 investors. Bitcoin is even worse. It's based on literally nothing! 

OUR PREDICTIONS  - it's up to you to believe it or not!

We strongly believe that only digital currency that will have universally accepted value will be one backed up by gold and silver! Furthermore we believe it is not a fiction but rather Russian and Chinese Governments are likely to be first ones with such system. That is after our BUCS!

Please understand the following: in case of true government sponsored and issued digital currency that is exchangeable for physical gold ALL other digital currencies will become worthless literally overnight! Nobody will want them any more. Will you?

Of course not. Gold will not be affected with such system. It will rather increase in value. When this happens demand for gold will skyrocket.

IN SHORT

Forget Bitcoin as a stored value. Smoke and mirrors, that is what it is. When we read that professional money managers "invested" millions of people's pensions and funds into Bitcoin we simply can't believe it!? They are taking a huge risk with other people's savings. It's a crime. Gold is many times more valuable than any digital currency consisting of few bytes of data. It is value forever. It can't diminish, disappear or go bad. It can't be brought down by click of the mouse, any government action, virus, malware, PC failure, disruption in Internet, ransom-ware, solar flares, loss of electricity or anything like that.

Only drawback with gold is that you have to securely store it somewhere to prevent it to be stolen. That is what we do for you at Smart Crypto Community Shares Ltd. We take away that burden, organize everything for your benefit and convenience. We put your gold into storage of your choice. It is there accounted for, audited, safe, protected allocated to card holder, segregated from other piles of shiny metals. It is very happy place!