In this topic I will tell you about two camps; people who like Bitcoin and people who like Gold. So, Hold Bitcoin or Hold Gold ?. We will see from several
aspects; Historical, Creator, Supply, Environmental Issue, and Monetary Function.Between Gold and Bitcoin BTC
First, let's look at the historical side. Of course, Gold's history is much longer than Bitcoin's. Gold has existed since this world was created. Even thousands of years ago. Gold has been used as money and a medium of exchange since 550 BC in Lydia. While Bitcoin has only existed since January 2009. So Bitcoin historical data is not as far and long as gold.
The second, we see from side of the creator. The creator of Gold is the universe, and the scientists believe gold came from meteorites that rained down on the earth 200 million years after the earth was formed. While Bitcoin was created by Satoshi Nakamoto , we still don't know who this Satoshi Nakamoto really is. He could be very smart person, It could be an institution, it could be a community group, or even it could be a creation of AI or Artificial Intelligence (My wild thought). We never know who Satoshi Nakamoto is. Bitcoins are man made, it's man-made. But Bitcoins cannot be re-created or increased in number (The Supply).
The third we will compare the amount of supply. Exactly how much is the maximum amount of gold supply?. We don't know, It could be suddenly find so many new gold sources that can be mined, so when there is additional supply, the assets will no longer be rare and worthless, so in the end the price goes down. While Bitcoin, the maximum supply is only 21 million coins and cannot be added again forever, This is what makes Bitcoin become so rare.
The fourth is environmental issue. Well, environmental issues are becoming an important issue in the 21st century. Many parties (included some companies or firms) are vying to reduce their carbon footprint. For example, China has a carbon-free target by 2060. Mining gold from deep within the earth has a tremendous impact on the environment. And this is irreversible damage, while Bitcoin when compared to gold is more environmentally friendly, Because Bitcoin can be mined using renewable energy or cheaper energy. Bitcoin mining does not permanently damage the environment. In fact, there is no damage at all to Bitcoin mining activities. Because it happens on a computer network.
Fifth, let's look at the monetary function. Even though gold is real money, money from the universe. And it was once considered money. But in the 21st century, gold has no monetary function. In the 21st century, gold is impractical, not portable ( as I said before in my last topic in Bitcoin Discussion) , and instead of making transactions easier, if we use gold , it makes transactions in this digital era more difficult. Wealth in the form of gold is not easy to move, especially across countries, during disasters, or wars. While Bitcoin makes transactions easier, because it can be done quickly through the Lightning Network, it can even cross countries. Bitcoin is also easily broken down to 1 satoshi, 1 satoshi is 0.000000001 Bitcoin, Zero by zero eight times behind. Bitcoins are also portable, Very easy to carry everywhere, because it's digital, can be accessed anywhere, the important thing is that we know our phrase. The price (value) of Bitcoin everywhere must be the same around the world, and as I said, the number of Bitcoins is limited, while the maximum amount of Gold supply is still unknown. Then about the risk, If this risk context is financial value, Gold is definitely very safe, Because the price is more stable and less volatile, but that doesn't mean there's no risk in saving gold, The risk of storing Gold is that the first is a thief, Yup, gold is very easy to steal. Why in ancient times did many kingdoms attack each other? Of course they were looking for gold. For example, in 215 BC, Rome stole gold from Macedonia, or after the Nazi fell, the gold was divided equally between America, Britain and France. Hmm, isn't it kind of theft too?. Gold storage is also difficult, to store large amounts of gold, you need a special place, tight security, and other thing, it's hard to move Gold in large quantities.
Bitcoin is here as a solution to all of that. Bitcoins cannot be stolen. The Bitcoin network also can't be hacked.
Well, I think that’s all information about Hold Bitcoin VS Hold Gold. I really want to give you more informations, But I think it will be boring if the thread become so long to read, So I stopped, but also I think it’s a good way too for opening a discussion. I hope this thread could be a good discussion to expand our information and knowledge (well, inspite of there are people also said that News isn’t a Knowledge, I dont agree with that).
I also have a long answer of these questions :
- Why Bitcoin can't be hacked?
- So when is the right time to buy Bitcoin?
Sources / References : -
https://www.gold.org/history-gold/gold-as-currency -
https://www.bbc.com/news/science-environment-14827624 -
https://en.wikipedia.org/wiki/Bitcoin -
https://chinadialogue.net/en/climate/chinas-2060-carbon-neutrality-target-opportunities-and-challenges/?amp&gclid=CjwKCAjwv8qkBhAnEiwAkY-ahjB_SI6Zsh-2s-FJyIT3gm2BuieqXhbF873STTearZIntxLYO63NDhoC734QAvD_BwE 
