Post
Topic
Board Bitcoin Discussion
Re: What are the pros and cons of gold compared to bitcoin?
by
Benedictare
on 02/04/2024, 20:10:17 UTC

      The digital scarcity of Bitcoin makes it worthy and always praised and because it is digital ,it is not influenced or affected to physical wear and tear.

   As we all know Bitcoin is young and not tested and shown to be good as an investment , but speculators in cryptocurrency are using it as store of value also as a limit against correction and recessions.


   Gold is scarce too,but it's total supply can change value frequently because of mining activities and it's very durable which does not gradually destroy or get weakened or degrade over time. For long, Gold has been an asset that keeps value over a long period of time and used as limit against market downturns .

   The reason why Bitcoin is better than gold is because of its operation on decentralized network, which makes sure that no single entity can control or manipulate the currency , which gives it an edge over gold and free from government and centralized authorities.