Quote from: bg002h on June 21, 2014, 02:37:04 PM

Bitcoin as an investment may fail. I think it will succeed spectacularly as a payment network.

That said, Bitcoin and gold have a lot in common and gold has been good money for thousands of years. The only advantage to gold is that it's extremely durable (it doesn't rust). There's roughly 1 Troy ounce of gold per person on earth and the gold supply inflates about 1-2% per year. While the inflation of the Bitcoin supply is about 12.5% per year right now, there are far fewer than 1 bitcoin per person.

Bitcoin is much easier to store, defend, transfer ownership of, and transport. Fungibility of gold and bitcoin depends on access to ways of melting the gold and careful usage of bitcoins.

Bitcoin has the properties humans want in a ledger system to keep track of our debts...don't forget, gold gets it's value for being a ledger that doesn't need any translator or language for that matter. Society accepts a 1-2% forgery rate in the ledger (ie, newly mined good)....the only reason people tolerate new gold is that there has never been something truly finite to use as a ledger and gold inflates slowly.

yes...looks so.