Post
Topic
Board Bitcoin Discussion
Re: Why do many people call Bitcoin "digital gold"?
by
XavierLaurent
on 23/07/2021, 11:23:57 UTC
Don't forget about advantages of gold. It can be accepted in any country in the world. I don't think there are laws prohibiting it's use anywhere in the world. You can store gold physically and indefinitely, whereas hard drives can degrade over time or become obsolete in a few years.
Possibily of gold being hacked and stolen is practically 0. With BTC it's higher amount for sure. Everyone understands how shiny metal thing works, but BTC is more complicated to newcomers.

Still tho, out of all cryptos BTC is the most akin to gold due to it's high cost, finite amount, scarcity, popularity and uses as investment funding.