Post
Topic
Board Economics
Re: GOLD and BITCOIN: What is their similarities?
by
Lucius
on 21/02/2020, 11:14:59 UTC
I actually think having a fixed known supply is a disadvantage of BTC.

I can see in which direction you are aiming, and I cannot say that I do not understand your concern, but what if BTC had no limited supply? It is very likely that this would primarily affect its price, and would be subject to greater manipulation than it is today. However, it will take more than 100 years to mine all BTC, although in a little over 10 years this percentage will reach 99%.

For me BTC is store of value, but also a currency which I use regularly. That is not going to change no matter of the price, and I believe that some people think the same. Volatility is problem, but I think it will decrease in the future.

Gold has a long history, has proven to be a store of value, has an application in industry, and has a status symbol in some cultures. No one can dispute that, and I think it's in some ways wrong to compare gold and BTC, but I understand the human obsession with such things.