The bitcoin vs gold debate has raged on in investment circles since bitcoin has entered mainstream discussion among increasingly interested investors. Gold has been used as a form of currency and trade for thousands of years, and certainly has a track record for reliability and preservation of wealth. However, as the newcomer onto the scene, bitcoin may be the kind of financial and technological breakthrough to to challenge gold as the monetary kingpin.
Early on in its life cycle, seasoned investors began questioning the legitimacy of bitcoin value and debating how such a commodity could hold intrinsic value. What differentiates bitcoin from a mere collectible and what makes it similar to precious metal assets such as gold or silver? Among many circles, especially gold bugs and older-generation investors, bitcoin was not considered a valid investment up until very recently.
Which factors of bitcoin instill this validity of investment?
Watch VideoGold known as the noble metals, "noble" because they stand apart, barely reacting with the other elements which is important for criterion of a currency. Gold has been using as a form of currency for a long time but it is not the same for bitcoin, we have been buying bitcoin, what do we have besides that. If we buy gold we have physically the gold itself which makes it strong, but currently we have xxxdigit cyripto numbers when we buy bitcoin. Will this be enough to secure it?