Ron Paul's Time Machine

In a survey made by Ron Paul a few weeks ago, people voted Bitcoin to be the best ten year investment over gold and dollars.

What's interesting here was the ten year time frame. When it comes to technology, ten years is an eternity, yet most respondents favored the technology based currency over gold.

While a technology can stay relevant over decades, and even centuries, it is extremely rare that a particular brand retains its relevance for more than a few years. Bitcoin has already proved itself impractical as a means of exchange, so my personal bet would be to see its price fall to zero within ten years even if crypto-currencies as a whole remain relevant.

Gold on the other hand is a commodity. It does not depend on the state of technology for its value, as it can always be used to whatever ends are most practical and valuable at any given time. Since it is useful and desired in jewelry and ornamentation, it has a universal appeal that will never go away.

If I were to step into Ron Paul's time machine, there's only one asset I would care to take with me, and that is gold. It is the only dead certain thing. It does not care about time. Ron Paul's time machine could miss-fire and send me 200 years forwards or backwards. I would still be safe.