 | Bitcoin has always been touted as a better alternative to gold due to how easy it is to transact it. However, Schiff has noted that the crypto king is currently unusable as a currency since it now takes over an hour to process a Bitcoin transaction. Interestingly enough, Schiff argues that even gold can serve as a better currency if it gets tokenized, showing support for the very technology that underpins Bitcoin. "People aren't using gold as a currency right now. But if they wanted to, gold could be tokenized on a block chain. Transaction time would be almost instantaneous and cost minimal. Gold works much better on a block chain than Bitcoin," he said. [link] [comments] |
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