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Gold is not meant for investment; it is meant for storing value. The key factor that distinguishes gold from Bitcoin is that it is used and reserved by sovereig
by suraci 2y ago
Gold is not meant for investment; it is meant for storing value. The key factor that distinguishes gold from Bitcoin is that it is used and reserved by sovereign nations. The only path through which Bitcoin could replace gold is if sovereign nations use and reserve it.
When you buy gold, you are exchanging currency; when you buy Bitcoin, you are buying merchandise. It’s no different from buying limited-edition gorilla images.
the world is formed by a society, not by a block chain
btw
> because gold miners keep making more, devaluing your holdings.
do we live in the same world?
- londons_explore 2y ago> The key factor that distinguishes gold from Bitcoin is that it is used and reserved by sovereign nations. The US government holds ~200,000 bitcoins. Market value: $20,981,980,000 The US government holds 261,498,926 troy oz of gold. Market value: $11,041,059,957 So the US already has more 'value' in bitcoin than gold.
- suraci 2y agoi'm really really doubt about the numbers by what i know, the US reserves the most golds in the world, could be even more if you count IMF's also but, once if the US reserve more btc than golds and use it for exchanges, surely and fastly, btc will become the new dollar, as soon as the US is still the hegemony
- tzs 2y ago> The US government holds 261,498,926 troy oz of gold. Market value: $11,041,059,957 I think you may have gotten the wrong row when you looked up gold prices to calculate that value. That value divided by that quantity gives $37.88/oz. Prices that low have not been seen since around 1970. Today's price is around $2800/oz, giving a value of $732,196,992,800.