many people don't get this fundamental difference between Bitcoin and Gold
Bitcoin requires permanent (and, if growing in tx vol, increasing) Energy input to keep the system viable (too little energy input undermines the blockchain and could destroy the currency due to double spending etc). Gold r some atoms formed in a star long ago
In short:
Stored Bitcoins requires permanent Energy consumption to be maintained
Stored Gold requires no consumption to be maintained
Stored Bitcoins requires permanent Energy consumption to be maintained: Asic's over Gpu?
Stored Gold requires no consumption to be maintained: All those hired guns and infrastructure needed to maintain security?
Eventually the blockchain could be powered by clothes that generate electricity from your everyday movement.
disclaimer: I dont know whats going to happen but the old way of doing things will have to move over.
lol @ trying
you know i'm right
bitcoins require permanent energy consumption to maintain its value (# of bitcoins in an account address)
gold does not, it can be left alone sitting somewhere forever and it remains the same, keeping its value (atoms)
I don't know if this actually matters alot, it's just a fundamental difference between gold and bitcoin that cannot be ignored
He did have a valid point, though.
You don't need energy to store the BTC (you can shut down your computer), you need energy to protect them. It can also be said you need energy to protect gold from theft.
You certainly need a lot of energy to use gold in an economic transaction.
About zero,
same as for trades in USD, also zero energy required.
Or super small neglible energy requirements (as in, if you do it in person, energy to move your body, or on the computer, some electricity to run your browser etc), the same small energy requirements that are in Bitcoin NEXT TO the HUGE permanently increasing (as it grows) Energy inflow requirement for keeping Bitcoin alive and viable
So you are wrong trying to make yourself believe its the same
PS: this statement has nothing to do with the bitcoin price, could go up, could go down. just saying Bitcoin needs someone to pay Energy inflow continously to stay alive
