Selected as the SECOND CONTENDER - POST OF THE MONTH - October’s Edition
So, bitcoin is like gold?
In a sense, yes. Gold is no longer a UFO value that is not subject to market fluctuations and bitcoin has seen its extreme volatility shrink (a bit …). Bitcoin is a risky investment but a long-term investment or even a very long-term one. I, of course, use possible to use bitcoin as a currency but it is necessary to fight to find merchants accepting them. In addition, transaction fees do not encourage paying in bitcoins. And gold in all this? Gold can also be traded in currency … as finally can be bitcoin as long as it is not an easily usable currency.
However, in the long run, I take the risk of saying no. Gold is and will remain only a raw material. The gold standard system disappeared in 1971 and the yellow metal remains locked in a financial investment perspective. On the contrary, Bitcoin is meant to leave this status of financial investment, status forced because of its confidentiality, for that of currency. Bitcoin and gold, therefore, have different purposes.
