????优势方：比特币。

????现在可以看出，在这场硬通货的较量中很难判定谁是赢家。无论是黄金还是比特币，它们的价值多数来自投机，即主要基于投资者对政治形势发展的预测。而政治形势比利润更难预测，这就是为什么很多主流经济学家和理财咨询师的建议是，个人财富中只要把一小部分放到黄金和比特币这种另类投资中。

????当然，这并不是说黄金和比特币就没有价值，只是它们的价值实在难以预测。比如，如果来一场成功的政治运动，恢复黄金在国际货币体系中的地位，那金价就可能飙升。这并不是什么疯狂的念头，因为美元标价的浮动汇率已导致新兴市场缺乏稳定性，也导致全球贸易不平衡。比特币也符合这一点。如果它能足够普及，政府也能接受它，甚至将其纳入自己的法律体系，那比特币现在瞄准的每个600美元的价格可能依然显得很便宜。（财富中文网）

????译者：清远

????Advantage: bitcoin

????As you can see, it's difficult to declare a clear winner in this hard-money rumble. Much of gold and bitcoin's value is speculative, based on investors' predictions about how political events are likely to unfold. And politics is even harder to predict than profits, which is why so many mainstream economists and financial advisors recommend that you keep only a very small portion of your wealth in alternative investments like gold and bitcoin.

????This, of course, isn't to say that gold and bitcoin are worthless; just that their worth is highly unpredictable. Gold, for instance, could soar in value if there is a successful political movement to restore its place in the global monetary system. This isn't an entirely crazy notion, as the dollar-denominated world of floating exchange rates has led to instability in emerging markets and imbalances in global trade. And the same goes for bitcoin. If it can become widespread enough such that governments accept it and even incorporate it into their legal frameworks, the $600 or so that bitcoin is going for now might seem cheap.

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