Post
Topic
Board Bitcoin Discussion
Re: BITCOIN IS NOT A STORE OF VALUE
by
franky1
on 27/09/2022, 03:16:23 UTC
gold on the other hand REQUIRES;

1. Deisel
2. roads and transport
3. Miners sluice machines and foundries to process gold
4. Buyer.
5. Seller.

as for bitcoin
bitcoin does not ask for your name or if you are a terrorist
i challenge you to look at any transaction on the blockchain. any block header.. and show me wherewhere that it includes peoples birth names/ geo location and what they are buying... hint: you wont find it

gold relies on vaults, pawnbrokers and gold merchants.
you do know that BUSINESSES that facilitate trade do ask for KYC. but the currency (bitcoin/gold) does not

bitcoin miners are self contained in their work. they are incentivised by block rewards mainly. they are not reliant on transactions. yep they can make blocks without any transactions in it and still get their reward.

bitcoin users storing bitcoin. need to do nothing. but keep their private key safe. they can go years without looking on the internet and know their private key will still work where they can spend their funds later
they do not need to be online 24/7 just to keep their funds safe

trying to keep gold safe is more intensive and requires more effort.