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It isn't, it is more difficult, but it is a different kind of difficult. That is why both have a place, and will continue to do so until a social collapse, at
by SkyBelow 7y ago
It isn't, it is more difficult, but it is a different kind of difficult. That is why both have a place, and will continue to do so until a social collapse, at which point only gold will remain. But until such a point, bitcoin exists as sometime harder to trade than gold in some ways and easier in others. It also borrows a bit from fiat currency in that it only has value because we agree to give it value (at least greater than the value of as single cut of cloth/plastic paper). Gold has some level of intrinsic value in both how resistant it is to change, its socially desirable look, and its practical use.
- matvore 7y agoThere is no such thing as “intrinsic” value. Value requires an evaluator. Maybe you mean that bitcoin doesn’t have value outside of its ostensive monetary value. Bitcoin has that too. It can back up data to thousands of locations and be censorship resistant and have a verifiable timestamp.
- c22 7y agoI'm not convinced that the total social collapse of modern society will result in a state where either bitcoin or gold hold much value.