Gold is a real physical thing, bitcoin is imaginary. Being imaginary and representing money should work with very strict rules. "There are only 21 million bitcoin" is a very strict rule" unbroken, it works. But then it's broken by saying...
"21 million cap, but the amount is unlimited by counting backwards or dividing"
that's a creative way to "hack" life, by promoting it's dollar value based on being limited, and technically it's unlimited.
The fiat vs bitcoin argument is 100% political manipulation by those who claim bitcoin is better than fiat currency, because bitcoin has a bad reputation for being involved in evil deeds. Fiat money is better because it can hide it's involvement in evil deeds.
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haha I loved the picture!
Tone Vays = old ways
Bitcoin is precious....there are only 2,100,000,000,000,000 Satoshi.....That is 2100 Trillion......around 200,000 per person on earth.
And wouldn't that be a thing of beauty for everyone to have 200,000 bitcoin?
hahaha, that picture just made me laugh, it fits perfectly!
Cryptocurrency in general being part of the machine means it functions as a better form of money compared to gold or anything else physical for beings today.
no, not you, it's not time yet, shit, I just came back from a bike ride and shower... and see you... no wait, it's me :)
With the only time being now, and me being nothing, its its always perfect and the right time :)
But yea, saw one of your Steemit videos some weeks back, looked into it some more, then signed up, but only just started Powering Up recently. Its fun to watch the Steem go up each day.
The devs have designed a very good way of making use of blockchain tech, with much potential to branch into music and commodities on the platform. Its all progressing very positive already compared to the dullness of BTC or the overly complicated and underwhelming Ethereum scenes.
Even though I hold bags in other cryptocurrencies, I will be investing profits more into Steem now.
Both have value. If there is no demand for them is no price. But both have solid price and they can be sold for flat. They are both real.
Gold is real and bitcoin is imaginary
Gold can be split into smaller amounts, right down to the absolute bottom of a single atom... that doesn't equate to "gold is unlimited". There is a finite total amount. Only its value changes.
Gold only has value b/c it is finite (and shiny).
Except we can always mine more gold...
Not always... just like bitcoin... or oil... the cost to recover (or discover) steadily increases. And just like the other two there is an absolute maximum amount of gold on the earth, and so far alchemy hasn't panned out for anyone.
the argument that gold is bad, so silly
Me? I'm certainly not making that argument! I put a healthy amount of my portfolio into precious metals. The in-my-hand flavor, not paper/digital crap.
I find it fascinating how Gold and Bitcoin relate to each other to on the market
Bitcoin Down.
Gold Up.
Seems anxiety psychologically makes people grab gold.
Bitcoin is the afterthought of gold, like the sound of a gold engine, it's invisible gold
The Gold to Silver Ratio is "the rate at which each metal comes out of the ground". That ratio is currently 10:1 For every ounce of gold that is mined there are 10 ounces of silver. Currently the ratio that silver and gold are trading at on the market is 68:1
So as you can see the price of silver is VERY UNDERVALUED.
The same can be said about Bitcoin to Steemit. I believe that Steemit is EXTREAMLY UNDERVALUED and that we will see the "Steemit to Bitcoin Ratio" go closer to 10:1.
Thats some crazy stuff right there considering the current Steemit to Bitcoin Ratio is 387:1 !!!!!
Thats something to get Excited about!!!!
YES :)
Thousands of Bitcoins have been lost since its creation and yes a bitcoin can be split down but it cannot be re created or printed into infinity like all fiat currencies. Maybe in the future you will be able to buy a new car for 1 satoshi? haha that would be nice.
Agreed!!
We live in the world of illusions
l am bitcoin,, you :D
Sorry but I can't agree with this. The fact Bitcoin is divisible to a million places is a boon for a limited supply commodity. just like gold can be smelted down.
also, bitcoin is inherently deflationary by design, there's no "quantitative easing" in the bitcoin world!
real physical is not imaginary
Go for the gold! I mean bitcoin!
The value of anything is no less imaginary than any other thing. Bitcoin has a big advantage over gold, it lives everywhere, and nowhere. It is just a number, a special number, and if you have that number, you can spend those bitcoins. But finding that number is harder than finding a one ounce gold nugget.