I was having an argument with my colleagues earlier about the possibility of Bitcoin surpassing Gold?
Gold has been dominating the economy and markets for thousands of years as a means of exchange and holding wealth(even generational wealth). On the contrary, Bitcoin(which is now called digital gold) was launched in 2009 and has achieved widespread adoption and success. It has been growing rapidly ever since.
I am not against hodling or buying bitcoin, infact i am an advocate for hodling bitcoin for the next couple of years because it’s certain there will be a huge increase in price to about $200,000 or higher in the future. But Gold is widely utilized compared to Bitcoin. Gold is also stable even though its price may fluctuate due to geopolitical factors and economic events whereas Bitcoin can be highly volatile.
Gold can be more reliable, this has been proven over and over. In this digital era, Bitcoin has accessibility, portability, divisibilty advantages over Gold.
Which team do you fall into Digital Gold or Traditional Gold?
Bitcoin is a digital Gold and Gold of the 21st century and both has their distinctive values, there are problems that Gold solves which Bitcoin cannot, example is in the refinement of Gold to produce various things like gold Jewelries and many other things, whereas Bitcoin has its own problem solving, Bitcoin serves as medium of and is not controlled by any single entity.Gold has been dominating the economy and markets for thousands of years as a means of exchange and holding wealth(even generational wealth). On the contrary, Bitcoin(which is now called digital gold) was launched in 2009 and has achieved widespread adoption and success. It has been growing rapidly ever since.
I am not against hodling or buying bitcoin, infact i am an advocate for hodling bitcoin for the next couple of years because it’s certain there will be a huge increase in price to about $200,000 or higher in the future. But Gold is widely utilized compared to Bitcoin. Gold is also stable even though its price may fluctuate due to geopolitical factors and economic events whereas Bitcoin can be highly volatile.
Gold can be more reliable, this has been proven over and over. In this digital era, Bitcoin has accessibility, portability, divisibilty advantages over Gold.
Which team do you fall into Digital Gold or Traditional Gold?
Now, what will make Bitcoin become more value that Gold or surpasses Gold is in its usability and demand.
Would we consider Runes on BTC chain as the Jewelries of sorts?
Even though they are not backed up by anything by hype and so on, it's still a reasonable comparison, in my opinion.