Post
Topic
Board Bitcoin Discussion
Re: Bitcoin could become the gold of 21th century?
by
Darker45
on 10/07/2022, 12:17:21 UTC
Bitcoin has a limited amount and will not change over time -> Same as gold.

Bitcoin has a limited amount in the sense that it has a maximum supply. Which means that there can never be a 21,000,001th Bitcoin. This isn't the same with gold. Gold is limited but in a totally different sense. Gold has been mined for millennia and yet it is still mined until today and its supply has been continuously increasing no end.

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The Byzantine Generals Problem -> Miners are incentivized not to compromise the BTC network as well as is very complicated, we can compare it with the physical gold surveillance system.

This may not be comparable. Satoshi found a way for data to be tamper-proof. This isn't the case with gold. Gold's surveillance system may be tight and strict, but fake gold is everywhere. Even China itself has fake gold reserves.