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My first thought as well. Bitcoin is often said to have many of the properties of gold, not least its scarcity. But here is a clear example of how bitcoin tru

My first thought as well. Bitcoin is often said to have many of the properties of gold, not least its scarcity. But here is a clear example of how bitcoin trumps gold, people can move large amounts of bitcoin in a short amount of time with very little risk. Bitcoin users are already doing this. http://blockexplorer.com/block/0000000000022043f9ea2c298f3381c6ddd86b968271117dd55cb48ac297954c http://blockexplorer.com/block/0000000000022043f9ea2c298f338... Total BTC?: 416300.33 At todays bitcoin market value that is 4,605,201.67 USD. Still some way off 12 billion I grant you, but astonishing considering gold has been used as currency for thousands of years and bitcoin is less than 3 years old.

dualogy 15y ago
Not so astonishing! Multiply those 3 years times 1000s and you get from 4m to 12bn. This would assume currency value stability over 1000s of years of course, not possible even over decades.
ceejayoz 15y ago
> But here is a clear example of how bitcoin trumps gold, people can move large amounts of bitcoin in a short amount of time with very little risk. Bitcoin users are already doing this. I'd imagine that governments like the fact that moving their gold is hard, slow, and risky.