Post
Topic
Board Economics
Re: Why BTC is digital gold?
by
kaseygriffin
on 03/12/2020, 03:45:35 UTC
How we can determine BTC is digital gold?BTC Thats can be determined by their attribute. Gold is valuable because it's rare and has a limited supply. This term is true for Bitcoin as well. Both can be exchangeable with essential goods and they are acceptable in our society. Gold and BTC both can be stored though they have different methods to do that. But if you compare these criteria then we can say Bitcoin is digital gold.
Since it is the market leader Bitcoin and gold are both scarce, i think that when creating it people thought it would be worth using and when the demand was great, the value of the product was also great. Back to bitcoin, it is also seen that bitcoin is having a strong influence on crypto. When it comes to crypto, people will immediately mention bitcoin and that's the easiest reason to understand.