Post
Topic
Board Economics
Re: Gold exist 1000+ years. while bitcoins exist 10 years.
by
Sahyadri
on 29/09/2019, 05:14:55 UTC
Gold exist for over a 1000+ years maybe? Bitcoin only 10 years. Also the internet existed about 25+ years. Bitcoin price is higher than gold by over 200%. I think the value of Bitcoin is going to sky rocket once again. When technology gets more advance n the Bitcoin system upgrades. Just another speculation.
You can't compare the value of bitcoin to that of gold.
Price depends upon supply and demand. Gold is might be limited but not to the level of Bitcoin. There are only 21 million Bitcoin which means it has inbuilt deflation and it will remain the same and hence, the price growth.
Added to that BTC is also a currency which enables real-time fund transfer. Gold has on the other hand, has totally different use case. They are not comparable at all.
Regarding Bitcoin price sky rocketing, it is still in its infancy stage. There's a lot of potential still lying.