Bitcoin VS Gold: Which is Better?
As a consultant, I often encountered the question "What is Bitcoin really?" To answer it, let's get rid of any digital concepts that exist in Bitcoin. Suppose Bitcoin is something real like gold, for example, and imagine now you are holding a piece of gold in your hand. Easy, is not it?
Now I ask, who created the gold? Nothing, God is the Creator and we can not prove His existence nor His true identity if it exists. So far, no single individual or company can create gold. To get gold, we have to mine it first or buy it from the nearest gold shop. This glorious metal is spread all over the world, applicable and can be traded in any country, although not created by a real figure. Gold is available in limited quantities, and this is what causes the price to increase over time.
Bitcoin is exactly like that, but the difference is that it is digital or invisible. So now imagine you've turned the gold into something virtual and stored on your computer or smartphone. Bitcoin has all the important aspects that gold has, but it looks like a pulse. Amazing, is not it?
We can summarize that Bitcoin has gold-like characteristics as follows:
The supply is limited, where there will be only 21 million Bitcoins spread across the globe;
Not created by the Central Bank / government, but by an unidentified party;
Not manufactured or controlled by an individual, group or company;
Impossible to duplicate or counterfeit;
Durable and not easily destroyed;
Obtained by mined, but using a mining program and a mathematical algorithm;
Can be transacted worldwide;
The transaction is irreversible, meaning that once Bitcoin is given to someone else's hand, the transaction can not be canceled unless the person is willing to send the Bitcoin back;
Can be exchanged and traded with various currencies in the world.
The above characteristics prove that in addition to its digital form, Bitcoin is more or less similar to gold. But you need to know that there are some things that cause Bitcoin better than gold.
Interested to know more? Keep an eye on our blog for the latest information!
Now I ask, who created the gold? Nothing, God is the Creator and we can not prove His existence nor His true identity if it exists. So far, no single individual or company can create gold. To get gold, we have to mine it first or buy it from the nearest gold shop. This glorious metal is spread all over the world, applicable and can be traded in any country, although not created by a real figure. Gold is available in limited quantities, and this is what causes the price to increase over time.
Bitcoin is exactly like that, but the difference is that it is digital or invisible. So now imagine you've turned the gold into something virtual and stored on your computer or smartphone. Bitcoin has all the important aspects that gold has, but it looks like a pulse. Amazing, is not it?
We can summarize that Bitcoin has gold-like characteristics as follows:
The supply is limited, where there will be only 21 million Bitcoins spread across the globe;
Not created by the Central Bank / government, but by an unidentified party;
Not manufactured or controlled by an individual, group or company;
Impossible to duplicate or counterfeit;
Durable and not easily destroyed;
Obtained by mined, but using a mining program and a mathematical algorithm;
Can be transacted worldwide;
The transaction is irreversible, meaning that once Bitcoin is given to someone else's hand, the transaction can not be canceled unless the person is willing to send the Bitcoin back;
Can be exchanged and traded with various currencies in the world.
The above characteristics prove that in addition to its digital form, Bitcoin is more or less similar to gold. But you need to know that there are some things that cause Bitcoin better than gold.
Interested to know more? Keep an eye on our blog for the latest information!
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