Topic: Why do many people call Bitcoin "digital gold"? - page 8. (Read 1372 times)
Simply put, in addition to the function, the nature and benefits of both have in common, don't forget as one that can be parallel to gold in any aspect. because when you don't compare it with gold, then what else can be equalized and equalized in value, function, characteristics, and benefits that are the same as Bitcoin?
I think the price of gold could be worth more than it currently is if not for the industrial uses and possibly fake gold in circulation.
Bitcoin deserves the price at the end of your post if it can do alot more without compromising on its ideals. And it deserves the name digital gold but for some reasons I'm not sure it should be called Digital Gold
Bitcoin deserves the price at the end of your post if it can do alot more without compromising on its ideals. And it deserves the name digital gold but for some reasons I'm not sure it should be called Digital Gold
They say that because bitcoin is no1 crypto asset-coin. In crypto world is strongest so that can be first reason I think. Bitcoin is in eyes of holders potential money in pocket which can grow x10 or x100, what happen before so people hope history will happen again.
Because people think Bitcoin can be a digital store of asset. Gold as physical store of asset. When they believe like that, it means they believe in the intrinsic value of Bitcoin.
Their belief can be right and is based by valuable reasons or can be wrong and is not based on anything.
If you see good reasons from their belief, Bitcoin has good future. I share on informative article to you. They bullish case for Bitcoin
Their belief can be right and is based by valuable reasons or can be wrong and is not based on anything.
If you see good reasons from their belief, Bitcoin has good future. I share on informative article to you. They bullish case for Bitcoin
in my opinion BTC is called digital gold because it has a position and is at the top of the virtual currency market, but if talking about higher value I think diamond, I also have a question. is why BTC is not likened to diamond but gold, do you think like me?.
My last post described that Bitcoin was given the attribute of matter when it was created by Satoshi Nakamoto. Bitcoin is as unique and non-replicable as matter. For this reason, Bitcoin is often compared with gold. Why is Bitcoin called "digital gold"? I want to discuss it with everyone.
Satoshi Nakamoto's original intention to create Bitcoin was to establish an A Peer-to-Peer Electronic Cash System. This kind of electronic cash can be used for daily payment and circulation, and can also serve as a "world currency" function. The role of "world currency" was once played by gold, so some people compare Bitcoin to digital gold.
To a certain extent, Bitcoin is replacing gold as a "world currency" and a "store of value" function. This is also the basic consensus that supports the price of Bitcoin. I summarized the following points:
1)Bitcoin, like gold, has a limited total amount and is scarce, and neither can be supplied infinitely. At the same time, it is very difficult to obtain, and it requires cost.
2)Bitcoin and gold have similar physical properties, and both have the uniqueness of matter. Can not be tampered with, can not be copied, can be physically divided.
3)Both Bitcoin and gold have similar monetary properties and can be used for daily payments or as a store of value.
4)Bitcoin can also perform the function of "world currency" and anchor global assets.
Compared with gold, Bitcoin also has the following advantages:
1)Continuous deflation in quantity:
The total amount of Bitcoin is 21 million, and the total amount is constant, and it is constantly being mined in the form of "mining". But at the same time, more and more Bitcoin owners may lose their private keys for various reasons, causing Bitcoins to no longer be found and circulated. This phenomenon occurs every day, so the total amount of bitcoins that can be circulated will only become less and less in the future.
2)Easier to divide:
Compared to gold, Bitcoin is easier to divide. The smallest unit of bitcoin is 1 satoshi, and a bitcoin can be divided into 100 million satoshis. At the same time, the Bitcoin split has almost no cost, while the golden section has a huge cost.
3)Easier to carry and trade:
Benefiting from the fast-growing cryptocurrency exchange business, Bitcoin can be traded uninterruptedly within a 24-hour time frame around the world. At this point, Bitcoin's global circulation is better than gold.
4)Can not forge:
All Bitcoin data is controlled by the Bitcoin network and cannot be forged or tampered with. On this basis, Bitcoin successfully established code trust. To a certain extent, gold can be faked. We often see various news or fraud cases about gold fraud. At this point, Bitcoin is also a winner.
5)More transparent:
Compared to gold, Bitcoin has the advantage of being more transparent. Gold trading is not public, and many traders use "paper gold." But every transaction of Bitcoin is open and transparent, and its transaction records can be found on the chain. This is the cornerstone of Bitcoin's value.
6)More decentralized:
Gold is a product controlled by a centralized organization, that is, the government. On the one hand, the central banks of various countries monopolize the vast majority of gold reserves. On the other hand, the government can introduce policies to restrict ordinary people from holding gold. This has resulted in the vast majority of people being only able to invest in gold derivatives such as "paper gold".
But for Bitcoin, anyone can buy and sell Bitcoin without restriction at any time. At the same time, individuals have absolute ownership of Bitcoin's private keys instead of relying on some centralized institutions. Bitcoin puts assets under the control of their owners.
We found that Bitcoin has many advantages that gold does not have on the basis of the characteristics of gold. If Bitcoin replaces gold as a value anchor, the market value of Bitcoin will definitely exceed gold. This is the basic logic that supports the price of Bitcoin.
According to statistics, the total market value of global gold currently exceeds 8 trillion U.S. dollars. If the market value of Bitcoin exceeds 8 trillion U.S. dollars, the value of a single Bitcoin will exceed 400,000 U.S. dollars. This is just a judgment on Bitcoin's value as a "digital gold".
Why do many people call Bitcoin "digital gold"?
Satoshi Nakamoto's original intention to create Bitcoin was to establish an A Peer-to-Peer Electronic Cash System. This kind of electronic cash can be used for daily payment and circulation, and can also serve as a "world currency" function. The role of "world currency" was once played by gold, so some people compare Bitcoin to digital gold.
To a certain extent, Bitcoin is replacing gold as a "world currency" and a "store of value" function. This is also the basic consensus that supports the price of Bitcoin. I summarized the following points:
1)Bitcoin, like gold, has a limited total amount and is scarce, and neither can be supplied infinitely. At the same time, it is very difficult to obtain, and it requires cost.
2)Bitcoin and gold have similar physical properties, and both have the uniqueness of matter. Can not be tampered with, can not be copied, can be physically divided.
3)Both Bitcoin and gold have similar monetary properties and can be used for daily payments or as a store of value.
4)Bitcoin can also perform the function of "world currency" and anchor global assets.
Compared with gold, Bitcoin also has the following advantages:
1)Continuous deflation in quantity:
The total amount of Bitcoin is 21 million, and the total amount is constant, and it is constantly being mined in the form of "mining". But at the same time, more and more Bitcoin owners may lose their private keys for various reasons, causing Bitcoins to no longer be found and circulated. This phenomenon occurs every day, so the total amount of bitcoins that can be circulated will only become less and less in the future.
2)Easier to divide:
Compared to gold, Bitcoin is easier to divide. The smallest unit of bitcoin is 1 satoshi, and a bitcoin can be divided into 100 million satoshis. At the same time, the Bitcoin split has almost no cost, while the golden section has a huge cost.
3)Easier to carry and trade:
Benefiting from the fast-growing cryptocurrency exchange business, Bitcoin can be traded uninterruptedly within a 24-hour time frame around the world. At this point, Bitcoin's global circulation is better than gold.
4)Can not forge:
All Bitcoin data is controlled by the Bitcoin network and cannot be forged or tampered with. On this basis, Bitcoin successfully established code trust. To a certain extent, gold can be faked. We often see various news or fraud cases about gold fraud. At this point, Bitcoin is also a winner.
5)More transparent:
Compared to gold, Bitcoin has the advantage of being more transparent. Gold trading is not public, and many traders use "paper gold." But every transaction of Bitcoin is open and transparent, and its transaction records can be found on the chain. This is the cornerstone of Bitcoin's value.
6)More decentralized:
Gold is a product controlled by a centralized organization, that is, the government. On the one hand, the central banks of various countries monopolize the vast majority of gold reserves. On the other hand, the government can introduce policies to restrict ordinary people from holding gold. This has resulted in the vast majority of people being only able to invest in gold derivatives such as "paper gold".
But for Bitcoin, anyone can buy and sell Bitcoin without restriction at any time. At the same time, individuals have absolute ownership of Bitcoin's private keys instead of relying on some centralized institutions. Bitcoin puts assets under the control of their owners.
We found that Bitcoin has many advantages that gold does not have on the basis of the characteristics of gold. If Bitcoin replaces gold as a value anchor, the market value of Bitcoin will definitely exceed gold. This is the basic logic that supports the price of Bitcoin.
According to statistics, the total market value of global gold currently exceeds 8 trillion U.S. dollars. If the market value of Bitcoin exceeds 8 trillion U.S. dollars, the value of a single Bitcoin will exceed 400,000 U.S. dollars. This is just a judgment on Bitcoin's value as a "digital gold".
Why do many people call Bitcoin "digital gold"?
Jump to: