Today people are rushing into digital crypto currencies like never before. China is now adopting this trend and starting to launch a digital version of the yuan. Furthermore, most analysts believe that their is only 2% of physical cash currency in circulation. What does the mean for the future of cash in our society? Are crypto currencies like bitcoin, euthereum, and dogecoin going to replace cash? Is gold and silver the next cash?

Cryptocurrency VS. Gold and Silver

Will cryptocurrency, bitcoin, euthereum, or dogecoin become the next cash, or is gold and silver the next cash? To understand the answer to this question it is important to understand the definition of money. Unlike currency, money is meant to be a store of value. Just because something continues to go up in value that does not mean that it is a store of value. Bitcoin, euthereum, and dogecoin have exploded in value over the last couple of years, however, they also crash in value quickly. A good source of money should be stable and its value should not rise or fall quickly in a short period of time. As fast as these cryptocurrencies go up, they go down. Furthermore, all cryptocurrencies have only been around for about a decade. Cash money should be something that has stood the test of time.

Gold and silver coins and bars have been around for several thousands and the value of these commodities have always remained stable. Unlike cryptocurrencies, the price of gold and silver does not rise and fall 20 to 40% in a days time. Another good quality of money is that it should not be dependent on outside forces for its value. Although gold and silver values are affected by outside political, global, and economic forces, they are not reliant on the forces for their value. They have intrinsic value. Also, they do not rely on any outside power force or network to transfer from one individual to another. Imagine how you will buy, sell, or spend your cryptocurrency if all of the power went out. This is simply not possible. For me, the choice is clear, gold and silver are the next cash, not cryptocurrency.