Is Bitcoin Better Than Gold? Wences Casares Thinks So.

Bitcoin, along with just about any digital currency, is one of those concepts that you either get right away or you don’t. You either see the value in cryptocurrency, and its potential applications, or you’re convinced that it’s all a shell game, and ignore it as something that really only appeals to those buying and selling on the black market.

I’m not going to try to convince you either way, but Wences Casares, founder and CEO of Xapo (a Bitcoin wallet and vault) thinks that Bitcoin is not just a good idea, but that it’s “perhaps the best form of money that we have ever seen.”

“It’s important because most of us don’t understand money very well and perhaps the concept that is hardest for us to understand about money is that money is and has always been a ledger. And people often ask: “What is money backed with?” And the truth is money’s not backed with anything. It has never been backed with anything. The euro is not backed with anything in particular and neither is any other currency in the world. And gold, for example for that matter is not backed with anything either.” – Wences Casares

While you may not be convinced of his logic, the growth of Bitcoin acceptance at businesses around the world could be a big indicator that you or your business ought to consider accepting it for payments, as long as it works for your situation.

About the Author

lives in southwestern New Mexico and digs bicycles, simple living, organic gardening, sustainable lifestyle design, slacklining, bouldering, and permaculture. He loves good food, with fresh roasted chiles at the top of his list of favorites. Catch up with Derek on Twitter, RebelMouse, Google+, or at his natural parenting site, Natural Papa!