Post
Topic
Board Bitcoin Discussion
Re: why can't bitcoin be based on something that has value?
by
Cryptmuster
on 03/09/2022, 05:15:14 UTC
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.

Each of these assets has its own value, its own advantages and disadvantages. What determines the price of gold? It needs to be found, mined, for this you need a lot of equipment, then processed, transported and stored. All this affects its final cost, as in the case of bitcoin, in order to get it you need equipment, electricity, equipment maintenance. But the amount of bitcoin is limited compared to gold, and the more people want to own some part of bitcoin, the more expensive it will become.