Gold is a shiny, tangible thing that doesn't require electricity and it doesn't put all your transactions on a public ledger. Oh, and it lasts basically forever plus it's malleable so you can get it down to quite small denominations.
Ah, so gold is a shiny rock that doesn't have a decentralized transmission network (the internet).
Mining and smelting gold requires quite a bit of electricity. But Bitcoin the network undoubtedly uses more.
As for small denominations, Bitcoin goes down to a single unit of Satoshi (1/100 millionth of a btc) and since its digital, subdivision is trivial.
So despite this, there are far more retail and commercial opportunities to exchange your btc for goods and services, where as I don't know of any place I can trade gold coins for things.
hypeatei|4 months ago
scottiebarnes|4 months ago
Mining and smelting gold requires quite a bit of electricity. But Bitcoin the network undoubtedly uses more.
As for small denominations, Bitcoin goes down to a single unit of Satoshi (1/100 millionth of a btc) and since its digital, subdivision is trivial.
So despite this, there are far more retail and commercial opportunities to exchange your btc for goods and services, where as I don't know of any place I can trade gold coins for things.
tim333|4 months ago