Why is bitcoin better than any other alt coin eg. litecoin?
they perform the same function at a considerably lower price - just because the people say so? Is because people are hoarding[/size]
Yea but you still forget that bitcoin is a currency and gold is a commodity.
While bitcoin being a currency, it can be spent, so by definition it cannot be a pump & dump scheme. (atleast not that easy, given that the price is high now and market manipulation is harder than in 2013 with MT Gox inside jobs and fake account manipulation mostly)
Gold is a commodity, which means, from a point of a retail person, the only thing you can do with gold is to buy low and sell high. So it's obvious that if you bought a gold bar, you will eventually have to sell it (and who will buy your gold bar at a higher price than you bought, another investor... hmm sounds like a ponzi? = new investor pays off the old one), because it's not like you will go into a store and buy milk with it.
Thus Gold, by definition will be a pump & dump scheme forever, until they dont invent teleportation (to make gold transfer just as easy as bitcoin transfer)
