Post
Topic
Board Economics
Re: Gold exist 1000+ years. while bitcoins exist 10 years.
by
ck343
on 02/07/2019, 10:36:41 UTC
you can not compare value of bitcoin with value of something like gold when they don't follow the same unit of measurement. it is like saying you are taller than 1 kilogram!
when you say value of bitcoin you are talking about value of 1.00000000 BTC and when you say value of gold you are saying value of 1 OZ of gold not 1 kilogram or 1 ingot, 1 grain, 1 troy ounce,... so first clarify why you are comparing the biggest unit of bitcoin (1 whole BTC) with smallest unit of gold and why aren't you using the smallest unit of bitcoin (1 satoshi) to do the comparison.
How many kilograms are you tall?
Jee, I don't know ... how many meters are you old?
 Smiley

I'll add this: Instead of comparing how long gold and Bitcoin exist as money, why don't we compare how widespread is their acceptance as money today?

Gold today, in its different forms (jewel, coins, bars etc.) is recognised as money by around 100% of the world population.

Bitcoin: end of March 2019 there were 35 million Blockchain wallets.
Even if all of them have Bitcoins...
even if each wallet belongs to a different person...
even if each Bitcoin owner considers Bitcoin a money, and not just a gambling or investing vehicle...
... that's 0,5% or the world population.

Gold acceptance as money: 100%
Bitcoin acceptance as money: 0,5%