Gold isn't easily divisible. You can't use gold for daily transactions. People do and have used Bitcoin to buy the proverbial cup of coffee.
Gold isn't easily transportable. If you had $100,000 in gold and wanted to leave the country with it, that would be quite a hassle.
A bitcoin wallet can live on your smartphone or a USB stick. Or you can memorize 12 words and gain access to your wallet anywhere there's an internet connection.
If you wanted to send $1000 of your gold somewhere, that's another hassle.
A bitcoin transaction can be sent in minutes anywhere in the world.
The supply of gold grows each year; the higher the price goes, the more gold is produced, therefore decreasing gold's buying power.
Bitcoin is on a fixed schedule that can't be changed. There will only ever be 21 million bitcoin, making each one that much more valuable.
Comments
Gold isn't easily divisible. You can't use gold for daily transactions. People do and have used Bitcoin to buy the proverbial cup of coffee.
Gold isn't easily transportable. If you had $100,000 in gold and wanted to leave the country with it, that would be quite a hassle.
A bitcoin wallet can live on your smartphone or a USB stick. Or you can memorize 12 words and gain access to your wallet anywhere there's an internet connection.
If you wanted to send $1000 of your gold somewhere, that's another hassle.
A bitcoin transaction can be sent in minutes anywhere in the world.
The supply of gold grows each year; the higher the price goes, the more gold is produced, therefore decreasing gold's buying power.
Bitcoin is on a fixed schedule that can't be changed. There will only ever be 21 million bitcoin, making each one that much more valuable.