Bitcoin vs Gold Similarities and Differences
Welcome to this episode of Ivan on Tech. In this episode you will hear Ivan and his colleague Filip discuss the differences and similarities between gold and bitcoin.
Gold vs Bitcoin
It shouldn't be Bitcoin vs's Gold it can be the best of both worlds and the benefits they both provide are useful. Both Bitcoin and Gold are limited in supply and this creates scarcity. Mining is similar between the two assets as Bitcoin's mining and the rewards/incentives was taken from the Gold industry.
An important difference is that Bitcoin is both an asset and a payment method while gold is just an asset. When dealing with Gold and the transactions used to transfer the assets it is separate and multiple tools and parties must be used for the transfer and holding. Bitcoin is an all in one asset. Gold however is a physical asset while Bitcoin is only digital.
As more and more fiat gets printed everyday.. the value of Gold has been decreasing over the past years. How can something that is made up and can have an infinite supply increase in value while something that is scarce and in high demand decrease in comparison.