Post
Topic
Board Bitcoin Discussion
Re: why can't bitcoin be based on something that has value?
by
BobK71
on 17/08/2022, 05:47:42 UTC

i'm not saying bitcoin doesn't do that. but bitcoin has weaknesses. you can't deny that. the main weakness being that it is not backed up by something like gold. gold could then be used to measure the value of bitcoin. and gold has real world use. people wear it. it gets used in all kinds of electronics. bitcoin doesn't get used anywhere for any purpose. it's just imaginary.

Gold is a metallic substance that has shape ‍and existence which can also be seen in use. Gold and Bitcoin cannot be compared in real terms. There are two different things. One exists and the other has no existence in reality. But if I compare the potential and the price as well as the asset, then the value of bitcoin is definitely higher than gold. It must be accepted that people of this age prefer the digital form of their wealth. Bitcoin has quite a few advantages in this aspect.