Post
Topic
Board Bitcoin Discussion
Re: "Global wealth preservation"
by
Marvell1
on 25/03/2024, 10:31:58 UTC


They intersect in the sense that many see Bitcoin as an improved digital gold, so most things that gold can do, Bitcoin does better. Although there are things you can't use Bitcoin for, since it's not physical, you can't use it to make jewelry or have industrial applications. But in terms of preserving wealth, Bitcoin is better because it not only preserves it, it increases it.
Some of the points you gave about the uniqueness of Bitcoin are correct. Just want to add that the limited supply of Bitcoin is one of the factors that makes it better than gold. There are still great reserves of untapped gold in some countries but the maximum total supply of Bitcoin will always be 21 million.

Can bitcoin supply change if there is consensus among all miners and developers? I think it's entirely possible and just like humanity can find a new store of gold on the surface of the earth. In addition, gold is not only used as an asset but it is also used in a number of other industries and fields. Additionally, an asset having less supply does not guarantee that it is a better asset, it also depends on its demand. We should not deny that the demand for gold today is still very strong and bitcoin has not yet been able to surpass it. In the future, let's take time to answer everything and don't rush to confirm anything.

Gold and bitcoin are two completely different assets but it's hard to understand why people like to compare them.