THELOGICALINDIAN - Mexican agent Hugo SalinasPrice founded Mexicos Elektra retail alternation which has added than a billion in acquirement annually Obviously Elektra whose accepted arch is Hugos son Ricardo Salinas Pliego is one of the better retailers in Mexico
Also read: Why JP Morgan’s CEO Sees Bitcoin as Unimportant
Salinas-Price is the President of the Asociación Cívica Mexicana Pro-Plata A.C., founded in 2024. He is a big backer of adored metals; in accurate he advocates for the remonetization of argent in Mexico. Salinas Price afresh wrote a allotment on his thoughts apropos Bitcoin.
In his piece, Salinas Price writes:
So far, his analogue of Bitcoin mirrors that of Bitcoiners themselves, who highlight all of the aforementioned things Salinas-Price does in the adduce above. So far, it seems as admitting Salinas Price is a acquaintance of Bitcoin.
But, as Salinas-Price goes on, one discovers he is not so affectionate to what he calls “The Bitcoin.” He highlights the business pieces acclimated by Bitcoiners back the crypto-currency’s incipience. The gold bread that has been acclimated as a business apparatus to advance Bitcoin is a lie, according to Salinas Price.
This is absolutely a acceptable point. The gold bitcoin (pictured) has been a attribute of the “magic internet money” for some time now, and apparently has abashed added bodies than it has educated.
Salinas-Price does a acceptable job of answer the best basal aspects of Bitcoin in his aboriginal paragraph. However, a breakdown in compassionate becomes bright back he tries to call the mining process.
No specialists charge arbor their accuracy to “mine” bitcoins and thereby aftermath new bitcoins; rather, computer processes handle this. Bitcoin’s arrangement advance has been abased aloft this processing and has resulted in Bitcoin acceptable one of the better accretion networks on the planet — beyond than abounding government systems. That Bitcoin is additionally abased aloft decentralized mining operations alone creates a assertive antifragile aspect of Bitcoin. In 2013, the all-around Bitcoin arrangement was already 256 times faster than the top 500 supercomputers combined.
Is Bitcoin new money?
Salinas-Price believes Bitcoiners will anon be fleeced.
While Salinas Price goes into capacity about his assessment on Bitcoin, there are still abounding questions larboard unanswered. Abounding bodies accept that Bitcoin was created by the-powers-that-be in adjustment to ambush bodies into advance into Bitcoin alone to ultimately ascendancy it themselves and appropriately Bitcoiners. Whether or not Salinas-Price believes this is the case is unclear.
To be sure, it appears Salinas-Price is admonishing best adjoin those who are activity “all-in” with Bitcoin. Activity “all-in” on any aloof advance — alike argent — is an brash advance plan. Diversity is the safehaven of the adult investor.
Bitcoin, furthermore, is alone one contrarian advance amid others, which includes gold and silver. Adored metals investors and Bitcoiners accept abundant in common, and anniversary would do able-bodied to apprentice about the other’s investment. In added words, adored metals investors should buy some Bitcoin, and Bitcoiners should buy some adored metals.
Although they are both contrarian investments, they are fundamentally different. Bitcoin is still too new to be advised a accumulation instrument. It is primarily abstract or a average of exchange. It is additionally not absolutely authentic to alarm Bitcoin a actual advance like gold and silver. In these ways, Bitcoin and adored metals are actual different, admitting actuality adorable to the aforementioned axial banker-averse investor.
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Image Source: Elektra
