Quote from: Coinseeker on November 22, 2013, 01:01:21 AM

Quote from: wachtwoord on November 22, 2013, 12:53:50 AM

People will see that that's actually the same thing. This is why fiat "currencies" are so incredibly bad currencies.

Well if Bitcoin doesn't become stable, it will never find usefulness as a currency. It will merely be a digital store of value. Gold has survived every type of fiat ever created. I think comparing Bitcoin to Gold is honestly, wishful thinking. As I said, gold requires nothing to exist. Bitcoin, at it's most fundamental level, still has "counter-party risk". Thus, I don't think the two can accurately be compared. They are completely different. That's not to say, many gold speculators wont jump on Bitcoin. It's highly possible they will.

I completely disagree. Bitcoin improves on gold for every property. Bitcoin is an evolution over gold. Cryptocurrencies are an evolution over PMs.

How does Bitcoin has "counter-party-risk" anyway? You can store your own private keys, it's actually easier than storing your own gold in sufficient quantities.

And stability? I think that's overrated, but at some point the value will stop its explosive growth.