Bitcoin is Like Gold, But It’s Superior | by Grant Ralph.

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Just like gold, bitcoin is scarce and durable. · Gold Ban: Gold was banned in the U. Yes, Bitcoin has done well over the past few years, despite having lost 80% of it’s value 4x during that short. So, take Cuban's comments however you like. The decision was made out of. But widen the time frame, and things start to look shinier. The latter fares worst. Institutional investors seem to agree. It could also choose to tax Bitcoin like an investment in a currency which has an entirely different tax regime associated with it (i. By Julio Gil-Pulgar. · Bitcoin has been described as digital gold. Bitcoin is, after all, something that very few people in this. It makes sense, therefore, that people often use analogies to explain various things about bitcoin. Basically, bitcoin miners verify transactions and combine those transactions into blocks, which in turn make up the digital currency's blockchain. They are both valuable but have very different uses, Adelman says. Yet, he also admits Bitcoin has a “finite supply” which inherently makes it more valuable. While people have been using gold as a medium of exchange for 5,000 year, since ancient Mesopotamia. Investors are beginning to have a clear sense why bitcoin exists: it’s digital gold, a narrative that has emerged clearly as other assets flounder, gasping for air in the muddy water of shallow. Just like the 0 word, bitcoin isn’t useful essentially as a result of it is spent, however as a result of it could possibly be spent. It sits in a vault not being used, just like Gold does. No worries about mere fiat currency principles like inflation or deflation. · Bitcoin is similar to a gold standard in at least two ways. What is a btc gateway

Bitcoin is therefore well placed to be able to function as a store of value in the future, much like gold functions as a store of value today. Bitcoin is like gold because. But Goldman's analysts, led by Jeffrey Currie, said in a note on Wednesday that bitcoin's position. · Yes, there are a couple of ways in which Bitcoin is just like gold. Bitcoin will be the dominant technology in the category of cryptocurrency assets,” Miller told CNBC. His admission that gold is like Bitcoin could be viewed as a pejorative — after all, Cuban hates gold. (1) Both Bitcoin and gold are stateless, so either can provide an international base money that is not the creature of any national central bank or finance ministry. Bitcoin isn’t the only cryptocurrency, although it was the first, and is by far the most widely used. In a sense, Bitcoin is the Internet of money. Bitcoin is a lot like gold in that its price is forever changing. Drt15 MEMBER Febru at 3:21 pm Until the grid. · Many commentators have compared Bitcoin to gold as an investment asset. · Bitcoin’s supply cap and deflationary monetary policy means that it has similar attributes to gold. S. Bitcoin USD. An analogy can be very useful when you want to explain something that is not easy to understand. Treasury could change its mind and tax Bitcoin like gold (i. Bitcoin pioneer is yet again with another tweet praising Bitcoin, comparing it with gold. Symbol Last Price Change % Change; BTC-USD. · This is where Bitcoin, being similar to gold in many respects, and called digital gold, has some attractiveness for investors, but Bitcoin offers a lot more for the on-the-go generation. · You can easily trade bitcoin for cash or assets like gold instantly with incredibly low fees. Since Bitcoin is intended to be a 'store of value', any comparison to gold is always welcome. What is a btc gateway

If you look at the properties of Bitcoin you will see that it is the best medium for money and a much better store of value than Gold. In fact, they can be an even better store of value. , as a collectible), noted Silverman. 81-2,502. · Gold is an investment in the same financial system, just a counter-cyclical one. You could have left the house with 0 and by the time you’re done shopping, it could be 0 or 0. “Can Bitcoin Be Gold 2. Economists, by contrast, are more interested in considering how a monetary system based on Bitcoin. · When people compare Bitcoin and Ethereum it's a bit like comparing gold with electricity. Gold’s price can arguably be decomposed into a “golden constant” fair price and a fair price deviation. Why Bitcoin Is More Like a 0 Bill Than Gold. Ethereum is infrastructure. 90-4. And that was a comparison Elmandjra shared about Bitcoin. · Bitcoin is an electronic payment system that exists beyond the control of any central government. Why Bitcoin Is More Like a 0 Bill Than Gold. 0,” asks a portfolio analyst. Bitcoin markets have behaved a lot more like equities than gold during recent market swings. On this approach, bitcoin’s usefulness for “commerce on the web” stays essential to its worth. From 1933 to the mid-1970s it was illegal for Americans to own gold. · While Cuban’s thoughts might upset some gold enthusiasts, it’s a mixed bag overall. What is a btc gateway

This becomes an issue if you don’t know how much your coin will be worth when you head to your local grocery store, for instance. Bitcoin is an investment, though not mostly financial, in alternatives to that same system. · Bitcoin cannot yet be seen as digital gold, Goldman Sachs analysts said Wednesday. On this approach, it’s not like gold. Bitcoin is being called Gold 2 for good reason. . E. 56,118. · Bitcoin is a digital currency. · Also unlike gold, the Bitcoin supply is, in fact, limited and finite. Like gold, it is also created by mining, but the process is entirely electronic. One such argument is made by University of. Living on its own network. · His admission that gold is like Bitcoin could be seen as a pejorative, after all, Cuban hates gold. What do they do with it? · Gold is an investment but Bitcoin is simply a gamble, there’s a real difference. Related Quotes. , gains or losses on foreign currency investments are taxed as ordinary income, not capital gains). . · The current drive in bitcoin therefore looks like a bid to protect against currency debasement, by means of a measured transfer from gold, which is deemed the weaker anti-fiat asset for the moment. In my opinion, it’s like digital gold and BTC is a much better version of a store of value than physical gold. What is a btc gateway

In addition, bitcoin exhibits high portability, is easily transactable and programmable. Bitcoin is not in a bubble at all, I think it’s the beginning of mainstreaming BTC. Bitcoin is exactly like gold except when it isn’t. It is set to reap immediate benefits going forward when it comes to supply and demand, the most basic sound money concept. Like gold. Bitcoin’s More Disruptive Features. There are powerful arguments for the Bitcoin Bust scenario, in which the cryptocurrency is abandoned. The host of the Keiser report also held an episode of talk show discussing the Crypto-treatment in the country by the U. First, your financial advisor won't recommend you buy either of them. Over millennia, gold has gained a questionable reputation as an inflation hedge, a store of value and a safe haven. In Bitcoin, Bitcoin News, Bitcoin Politics, News teaser. Bitcoin is also like gold in that it is not issued by a central bank or federal government. · Bitcoin is a store of value, like digital gold, and will unlikely be used as traditional currency for the next five years, the former Goldman Sachs partner and hedge fund manager Mike Novogratz. Being digital, easily accessible, volatile and exciting makes Bitcoin the new generation gold. The Saylor's of the world, and the Banking cartels are now buying Bitcoin in the billions. 0. The similarity is that one of these asset classes is used by institutional investors right now as a flight to quality while the other isn’t – at least not yet. · But Bitcoin is only superficially similar to gold. · The gold-like coin images, as well as the ‘digital gold’ analogy, have been used widely for much of bitcoin’s 9-year lifetime. What is a btc gateway

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