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Topic: 2013-03-21 Motherboard "Why Bitcoins Are Just Like Gold" (Read 4245 times)

legendary
Activity: 1512
Merit: 1049
Death to enemies!
Quote
Both are, relative to fiat currency, inconvenient for day to day use
Bitcoin is more convenient to use than anything else. Buying pizza or ganja from your computer without going anywhere and without any fees. Far more convenient than cash.
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
True, bitcoin is digital gold
hero member
Activity: 518
Merit: 500
http://motherboard.vice.com/blog/why-bitcoins-are-just-like-gold

Quote
Bitcoin, in its present form, has a stark resemblance to gold. Both are backed by no one. Both are, relative to fiat currency, inconvenient for day to day use. Your gold coins or bitcoins (yet) won’t do much good at the grocery store. Both lack intrinsic value. If the apocalypse arrived tomorrow, your gold and BTC won’t help you survive against the zombies. Both have value only because society has confidence that they will maintain said value over time.

Very nice.
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