While gold did out perform bitcoin last year I still believe bitcoin is here to stay. Which is why I even wrote a book about it and it will be released later this month.
Bitcoin fixes gold's biggest flaws: seizure risk, storage costs, and slow transfer. It's gold without the baggage.
byu/birth_of_bitcoin inbtc
Posted by birth_of_bitcoin
2 Comments
10 min block time is what’s holding bitcoin back..
It’s nothing like gold. That’s a nonsense narrative to pretend it has actual value beyond what you can convince someone to pay for it.
Gold has essential properties that make it uniquely useful for certain applications. It also has *actual physical scarcity*. There is a finite amount of it on Earth, and no more can be made (except in infinitesimally small quantities at great cost). This is quite different from Bitcoin’s “scarcity”, which is only scarce like a rare skin in a video game. If anyone actually cared about the thing that Bitcoin *actually is* (i.e. numbers in a digital ledger) they can trivially make more of it (see the thousands of existing altcoins, for example).