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Topic: what is the difference between Bitcoin and Gold? - page 2. (Read 303 times)

legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
Bitcoin has surpassed gold in value although I don’t think bitcoin will replace gold. Both can exist in this world.
Although, bitcoin is very young if compared to gold and also that bitcoin is the most successful asset of last decade and yet growing in valuation but bitcoin is now worth $725 billion in marketcap, gold is worth over $10 trillion. Yes, both can exist, they have some similar and different purposes.
legendary
Activity: 2730
Merit: 7065
Gold are stored as in a vault and on a safety deposit box.
That's a physical type of storage, isn't it?

while Bitcoin are stored as a physical assets.
Bitcoins exist only digitally, not in any physical shape. If they were physical assets, you would be able to touch them. You could put them on your coffee table. Maybe the coin produces some noise and smells funny. Btw, what's the weight of a meter of Bitcoin?   

Gold require physical present during exchange. while Bitcoin doesn't require physical present during exchange.
You previously said that Bitcoins are physical assets. You can't have it both ways.

Gold can be faked while Bitcoin can not be faked.
Sure it can. Ask Binance.
hero member
Activity: 966
Merit: 701
Leading Crypto Sports Betting & Casino Platform
I can’t see where this is going OP. What’s your point? Bitcoin is better than gold? Bitcoin is better than fiat? This shouldn’t be much of a debate in a bitcoin forum. Bitcoin has surpassed gold in value although I don’t think bitcoin will replace gold. Both can exist in this world.

2: Gold are stored as in a vault and on a safety        
     deposit box.
                                 while
      Bitcoin are stored as a physical assets.


Gold is a physical asset. You can touch and feel it, bitcoin is a digital asset stored in the blockchain
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
Bitcoin are stored as a physical assets.
What is this suppose to mean? The keys which will allow you to spend bitcoins can be represented physically, yes.

Gold can be faked while Bitcoin can not be faked.
Both can be faked if the recipient isn't careful enough. In Bitcoin, if you haven't installed a non-custodial wallet, which was verified beforehand, and obtain the blocks' information from your own full node, then one can cheat you. Gold can also be faked, it's just harder to verify.
legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
Bitcoin are stored as a physical assets
Bitcoin are stored digitally, which is on blockchain.

Gold can be faked while Bitcoin can not be faked.
Yes, no fake bitcoin, only 21 million limited supply. But people should be aware of testnet which is just used for testing of how bitcoin are used.

Bitcoin is just an asset (money) used in buying items.
Bitcoin is a long term appreciative asset. Yes, bitcoin is money.
newbie
Activity: 14
Merit: 16
in my own understanding some of the differences between Bitcoin and gold are:

1: Gold  are used in industrial application                 
                                 while
     Bitcoin are used in underlying technology
      such as block chain

2: Gold are stored as in a vault and on a safety         
     deposit box.
                                 while
      Bitcoin are stored as a physical assets.

3: Existence; Gold has been in existence
      before Bitcoin.

4: in time of buying and selling or exchange:
     Gold  require physical present during
       exchange.         
                             while
       Bitcoin doesn't require physical present
       during exchange.

5: Gold can be faked while Bitcoin can not be
     faked.

6: Gold can be used in making different
      items .
                                 while
     Bitcoin is just an asset (money) used in
      buying items.
   
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