Post
Topic
Board Bitcoin Discussion
Re: Really good pic that showcases Bitcoin's money features vs fiat and gold
by
The Pharmacist
on 03/01/2016, 23:47:10 UTC
Where did you find this? I've seen it somewhere but I don't remember.

I think there are a few issues with this image.
Bitcoin isn't necessarily fungible. Apparently people are willing to pay more for newly generated "clean" Bitcoin than they are for used and "dirty" Bitcoin.
Also Bitcoin isn't all that durable. Accidentally hit one button and you could lose all of your Bitcoin forever
I would say that gold is easily transactable. It is fairly easy to hand over a chunk of gold.
Also I would say that gold is not easy to counterfeit. How does one exactly counterfeit gold?
And I think this is absolutely silly.  Speaking for myself, I could care less if my bitcoin was previously used to buy guns, drugs, or illegal porn.  I'm sure the cash in my pocket has been used for similar shady enterprises.  At least, I think that's what you're getting at.

As for the chart, I think it was created with an eye toward giving the advantage waaaaay toward bitcoin.  (Ya think?)  I've heard it said that bitcoin is a solution in need of a problem, and I kind of see it that way.  Bitcoin has some disadvantages that are not shown on this chart, like transaction times, irreversibility, etc.  But thanks for posting it.