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You forgot that the supply of gold is limited. So if gold is durable, storable, standardized, portable, easily divisible and the supply is limited, then it's ex
by snitko 13y ago
You forgot that the supply of gold is limited. So if gold is durable, storable, standardized, portable, easily divisible and the supply is limited, then it's exactly like Bitcoin. Only gold is actually less portable, less durable, much less divisible and its supply is less limited than the supply of Bitcoin.
Now tell me, what Bitcoin doesn't have that Gold has (except for the industrial use, which you admitted didn't event exist before the industrial revolution, and, frankly, can only be attributed to a fraction of actual gold's price)?
- oleganza 13y agoBitcoin can be used for secure timestamping and mutual funds locking without third parties. These are non-monetary features that Bitcoin provides. So it has some of them, just like gold.