Topic: Gold vs bitcoin - page 4. (Read 12323 times)
The only advantage gold has over bitcoin that I can see is that gold does have practical uses. It is very useful in electronics and as shielding on spacecraft. Bitcoins can't be made into anything but they still fulfill a need which is all you need for a successful currency.
Thus bitcoin has the same flaws that gold has.
And what might those flaws be?
bitcoin can be transfered electronically, gold can't. gold can be traded physically, bitcoin can't. otherwise, for the purposes of money, they are the same, but due to this distinguishing feature, they each serve different markets for money: the physical and the electronic.
Gold and bitcoins are complementary. Both have different uses and both are usefull.
Bitcoin can be traded physically (flashdrives, printed certificates). I agree with your vote though.Gold and bitcoins are complementary. Both have different uses and both are usefull.
Gold can be traded physically without the buyer needing to trust anyone - he can verify it himself (though it would require some tools, like a weighing scale)
Bitcoins can be traded electronically without the buyer needing to trust anyone - he can verify it himself (though it would require some tools, like a full bitcoin client)
Gold can be traded electronically by using digital tokens representing ownership of a physical amount of gold, but it requires trust in the issuer of the token.
Bitcoins can be traded physically by using physical tokens representing ownership of an electronic amount of bitcoins, but it requires trust in the issuer of the token.
Exactly. They're in some sense equivalent, but one physical and the other "electronic".
Thus bitcoin has the same flaws that gold has.
bitcoin can be transfered electronically, gold can't. gold can be traded physically, bitcoin can't. otherwise, for the purposes of money, they are the same, but due to this distinguishing feature, they each serve different markets for money: the physical and the electronic.
Gold and bitcoins are complementary. Both have different uses and both are usefull.
Bitcoin can be traded physically (flashdrives, printed certificates). I agree with your vote though.Gold and bitcoins are complementary. Both have different uses and both are usefull.
Gold can be traded physically without the buyer needing to trust anyone - he can verify it himself (though it would require some tools, like a weighing scale)
Bitcoins can be traded electronically without the buyer needing to trust anyone - he can verify it himself (though it would require some tools, like a full bitcoin client)
Gold can be traded electronically by using digital tokens representing ownership of a physical amount of gold, but it requires trust in the issuer of the token.
Bitcoins can be traded physically by using physical tokens representing ownership of an electronic amount of bitcoins, but it requires trust in the issuer of the token.
bitcoin can be transfered electronically, gold can't. gold can be traded physically, bitcoin can't. otherwise, for the purposes of money, they are the same, but due to this distinguishing feature, they each serve different markets for money: the physical and the electronic.
Gold and bitcoins are complementary. Both have different uses and both are usefull.
Bitcoin can be traded physically (flashdrives, printed certificates). I agree with your vote though.Gold and bitcoins are complementary. Both have different uses and both are usefull.
True. I was coming more from the angle that bitcoins depend on the internet and computers to be useful, but gold doesn't have this problem.
I agree with asdf. But a more interesting question to me is whether bitcoins (or something very similar to bitcoins) would ever be worth more than gold (meaning the total value of all bitcoins has more purchasing power than the total value of all gold). Bitcoins are more convenient and much easier and cheaper to secure than gold, so I think it's possible. IIRC, I calculated that if you took half the value of all gold and assigned it to bitcoins, a bitcoin's value would be in the realm of $150,000.
bitcoin can be transfered electronically, gold can't. gold can be traded physically, bitcoin can't. otherwise, for the purposes of money, they are the same, but due to this distinguishing feature, they each serve different markets for money: the physical and the electronic.
I totally agree and I couldn't write it better.
bitcoin can be transfered electronically, gold can't. gold can be traded physically, bitcoin can't. otherwise, for the purposes of money, they are the same, but due to this distinguishing feature, they each serve different markets for money: the physical and the electronic.
Gold and bitcoins are complementary. Both have different uses and both are usefull.
Bitcoin can be traded physically (flashdrives, printed certificates). I agree with your vote though. Gold and bitcoins are complementary. Both have different uses and both are usefull.
bitcoin can be transfered electronically, gold can't. gold can be traded physically, bitcoin can't. otherwise, for the purposes of money, they are the same, but due to this distinguishing feature, they each serve different markets for money: the physical and the electronic.
Gold and bitcoins are complementary. Both have different uses and both are usefull.
Gold and bitcoins are complementary. Both have different uses and both are usefull.
I hope they both crash. But long after they kill the central banks.
I hope something better (yes, even better than bitcoin) will come.
I hope something better (yes, even better than bitcoin) will come.
I guess this poll is self-explanatory. Please vote.
Jump to: