Post
Topic
Board Speculation
Re: BTC price shooting up to $24/BTC
by
Oldsport
on 13/02/2013, 03:32:29 UTC
I'm not too educated on the topic... but from what I've heard gold isn't exactly rare but controlled. I guess the same applies for Bitcoin in a way with hoarders, but Bitcoin is transparent. We know how many there are and we know there are limits (there are no secret deposits of Bitcoins 10000s of feet into the ocean or in some undiscovered area of land), whereas with gold it's  matter never truly lost or destroyed since it's constant... simply broken down into smaller pieces to be discovered later. Bitcoin, however, if you lose a wallet the coins are gone forever not broken up to be rediscovered. I hope the gist is somewhat gotten, I'm not the best at defining thoughts and I'm tired..

Correct me if I am wrong but I don't see the point of really comparing the two in the long run.