Gold and Crypto

Gold and Crypto


Why do people compare the two?

I guess I understand the nature of the beast. A old reserve currency, the desire to make BTC the new reserve currency. This being said they are totally different assets with totally different implications. 

 

I think Gold and BTC can’t be compared. They are nothing alike and have totally different implications. They are different assets and should not be compared.

 

Similarities: peer to peer transaction capable, large store of "value" in a small space (BTC wins obviously)

 

But there other uses are totally different, Gold is a commodity used in manufacturing, jewelry, space travel and so many other industries.

 

BTC is a transaction and security mechanism only. You can’t build beautiful jewelry with BTC, you can’t build a non-corroding electricity conductor from btc. Gold is eternal and will be around long after btc.

 

Gold you can buy discretely (cash) and bury it in the ground, if you wanted to I wouldn't but you may, and in 1000 years its going to look the same. You can’t say that about a hardware wallet or even the network bitcoin is built under because once mining is done its probably going to be gone, a new one will show up with Proof of stake or something and there may be die hards who stay around but its value won’t be there.

 

Gold, crypto, two different assets, shouldn't be compared. If you own BTC congratulations you are a contrarian and a free thinker. All i am saying is you should consider owning both.

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