A quick but comprehensive comparison between gold and BitCoin

A Quick Comparison Between Crypto Currency, Gold, and Bitcoin

In some places, gold seems to have a more important place in the financial world. On the other hand, some people begin to see Bitcoin as a valid method to store our savings.

This allows us to shop and conduct other daily transactions. For average consumers, Bitcoin and other cryptocurrencies seem to offer a relevant alternative. It’s probably a good time to make a comparison between gold and Bitcoin and Ethereum (another cryptocurrency).

People have been using gold as a type of currency for millennia; while Bitcoin has only been around for a little over a decade. Although the concept has gone through a maturing process, gold still has widespread influence in the market. Bitcoin promises continuous improvements in convenience, security, and functionality. Pundits have compared the current state of Bitcoin to the Internet in the early and mid-1990s. Proponents of Bitcoin argue that almost all of the breakthroughs related to gold have already occurred, as evidenced by the mass acceptance of any physical product of gold. gold bars for millennia. In fact, some company acquisitions have been made using gold as currency. They just don’t trust that the government won’t go into hyperinflation.

The idea of ​​gold versus Bitcoin is an important argument worth setting aside. Instead of choosing one of them; many of us would prefer to use a combination of them to take advantage of the best qualities of each. In fact, we have seen a coexistence between Bitcoin and gold, in the form of “Casascius coins”. This is the first time that Bitcoin and gold have come together and it will not be the last.

Ethereum, another crypto currency, is at $1,549.00. It is generally best removed with Raedon x 5 or 6 graphics cards placed in racks for optimal organization. Lan cables allow you to mine at high speeds for a gain on power usage.

Paper money is our solution to improve circulation and gold is our ancestors’ solution to preserve the value of currency. Metal is less affected by inflation, because it is much more expensive than paper or other cheap metals. And it is that cryptocurrency is the new technological gear to provide reliability in transactions, with the timelessness and precision of a Swiss watch.

Regardless of the criticism, Bitcoin and other cryptocurrencies will continue to appeal to many people due to their various advantages, especially when compared to conventional currencies such as paper money, which inflates and is often lost, spent or stolen. .

It is based on instant and direct P2P (peer-to-peer) transactions to completely avoid cumbersome and expensive electronic payment systems. Over time, investors will discover that Bitcoin offers a better store of value than any mass-printed flat coin.

The Bitcoin protocol places a limit on the number of bitcoins available at one time. There will always be 21 million bitcoins, and sometimes the system seems more honest than even the US dollar. With Bitcoin and other cryptocurrencies, consumers could gain greater financial privacy; although there is concern that the government is quietly intervening in the system with constant financial control.