Why is bitcoin better than gold?
Every correct answer in the next 40 mins will get a little Monday morning zap!
#asknostr
Discussion
thieves stole king tut’s gold, but they can never steal his bitcoin
Easier to transport.
12 words let’s me bring my bitcoin anywhere in the world. Gold gets seized at the border
Capped supply
Exact current supply known
Counterfeit-proof
Weightless
Instantly able to travel across globe
Can not be stopped
Evil people don't like it
Stops wars, instead of causing them
...
And many more!
I determine how and where is spent. Not my government.
I dont have to stick Bitcoin up my arse to get it over the border.
But if you're Do Kwon, you can get a trezor up there for fun
Trezor would be much easier than the new Coldcard Q #[4]
Trivial to verify if it's real
Spending it doesn’t require a price negotiation and a fair weighted scale.
Can't zap with gold... 😃
You can pay with bitcoin really fast in any part of the world
It is secure and finite
Can be stored in the brain
Far more easy to transact with Bitcoin. Easier to travel with as well. Also, Bitcoin is now more rare than gold.
The people who like it are more fun.
You don't need a shovel to mine it.
1. The PoW difficulty adjustment
2. The coded scarcity
3. Immutable public ledger
Absolute scarcity
You can tattoo your seed phrase . But gold must fit in the butt
Saleable across both time and space
Absolute scarcity
Authenticity easily verified / unforgeable
Instant to near-instant settlement
You can't zap gold
Peter Schiff in disbelief
Because Peter Schiff is wrong
We know exactly how much bitcoin exists now and how much will exist in the future
We do not know how much gold exists
Transfer isn’t limited by value. 1btc can be sent at the same cost as 1,000btc. Gold is more expensive to move by weight/value
Bitcoiners think in terms of sats, gold bugs think in terms of dollars.
Verifiable
Because bitcoin is free of fiat inflation.
Mobility is huge for me. If you have to run, you can only sew so much gold into your underwear.
I don’t need to pay hundreds or thousands to some pencil neck to put it under a microscope to make sure it’s real and not Chinese tungsten
I literally set up a micro computer that cost me $70 one time and get the same functionality
Easy to self custody
The current $BTC market conditions are showing a higher low, which typically indicates a bearish trend.
Taking all of this, the next significant point in the market is projected to be trading on ATH, the best approach for this indicator is integrating arbitrage strategy for passive accumulation.
You can easily 100x your portfolio this period with the passive arbitrage signals.
If you’re a fan of #bitcoin and you haven't join Rebelcapitalist (RCL) yet then I don’t even know what you’re doing here!
Vip group: https://t.me/rebelcapitalistshow
Arbitrage strategy: https://www.youtube.com/watch?v=kX7inr8yy1s
it is not ..
they are representation of same three properties in physical verses digital spaces.
#permissionless
#censor-resitant
#decentralized
Point in case - digital identities wear their Bitcoin in digital spaces the way some of us wear gold as jewelry 😄 ..they do !
After the twister , when dust settles down ..
Value of #Bitcoin will be same as value of #Gold . At that point Gold will be truly tokenized .. Currencies will be pegged to either of the two ..
You can't tokensize gold by holding physical gold in a vault .. you can only do that if the digital replica has properties of gold ..
Fair points here.
But gold is not scarce. We do not know how many ounces of gold are out there or how many there will be in 20 years.
We have mountains full of gold, grand canyons full of gold, and volcanoes in Antarctica full of gold.
I think that over time, gold will go to almost zero in terms of bitcoin. Mostly because bitcoin has a fixed supply.
And when people are holding bitcoin instead of gold as their savings, what’s the new value or use case for gold?!
It doesn't matter how much or how little gold is out there .. it may exist on other planets too :-)
The value of all that is equal to value of all the Bitcoins in steady state .. say hundred years from now ..
Gold is proven through duration ( past) .. Bitcoin is proven through math ( future)
But why would someone hold gold instead of bitcoin?
If there’s less demand, the price will fall compared to fiat and bitcoin.
It depends on skills - to my wife , holding Bitcoin is impossible proposition .. holding gold is so simple .. I am quite the opposite ..
We can never speculate all the intents and inspirations .. people do what they like to do :-)
Yes .. there can be less demand of value ( gold) in physical world than that ( btc) in digital world .. price would adjust automatically.. but reverse is equally applicable and probable ..
we kinda do - there's billions of times more gold out there than we've mined.
so you can't get excited about this recent pump. it just means all these reserves that were too expensive to extract are now economically viable - and will be extracted and brought to market
There are trillions of nano-sats out there that we haven't started thinking about yet in digital realm .. but the quantity doesn't matter at all .. the value stays equal on both sides .. if qty increases on one side , price falls - total value stays same on both sides of the equality .. understanding equality is important
The value in physical world = value in digital world
How fast can you transfer $1M USD of physical gold from the US to Europe? How fast can a person do the same with BTC? (One person doesn’t have to leave their home). They are not the same. One has significantly better portability and as of this past Friday, stock to flow.
In physical world , portability is slow .. in digital world it is fast ..
That just makes them different - not better or worse ..
If you were living in digital world as a digital being , you would crave for the slow experience of physical world .. just the way we crave the speed of digital world ..
The first time we find gold on the Moon, Mars or an asteroid, that entire market is going to go up in smoke.
Pretty sure we already found gold in space. The market will die once we can extract and send it back
Try taking gold through an airport
Shit, it’s already Tuesday here !
Bitcoin doesn’t burn you in the sauna
