Bitcoin VS Gold: Which is better? Is Bitcoin better than Gold?

Beritags Network -  "What is Bitcoin really?" To answer it, let's get rid of any digital concepts that exist in Bitcoin. Suppose Bitcoin is something real like Gold, for example, and imagine now you are holding a piece of Gold in your hand. Easy, is not it?

Now I ask, who created the gold? Nothing, god is the Creator and we can not prove His existence nor His true identity if it exists. So far, no single individual or company can create Gold. To get Gold, we have to mine it first or buy it from the nearest gold shop. These glorious metals are scattered throughout the world, applicable and can be traded in any country, although not created by a real figure. Gold is available in limited quantities, and this is what causes the price to increase over time.

Bitcoin is exactly like that, but the difference is that it is digital or invisible. So now imagine you've turned the gold into something virtual and stored on your computer or smartphone. Bitcoin has all the important aspects that Gold has, but it looks like a pulse. Amazing, is not it?

We can summarize that Bitcoin has Gold - like characteristics as follows:

1. The supply is limited, where there will be only 21 million Bitcoins spread across the globe;

2. Not created by the Central Bank/government, but by an unidentified party;

3. Not manufactured or controlled by an individual, group or company;

4. Impossible to duplicate or counterfeit;

5. Durable and not easily destroyed;

6. Obtained by mined, but using a mining program and a mathematical algorithm;

7. Can be transacted worldwide;

8. The transaction is irreversible, meaning that once Bitcoin is given to someone else's hand, the transaction can not be canceled unless the person is willing to send the Bitcoin back;

9. Can be exchanged and traded with various currencies in the world.

The above characteristics prove that in addition to its digital form, Bitcoin is more or less similar to Gold. But you need to know that there are some things that cause Bitcoin better than Gold.

Is Bitcoin better than Gold?

"Bitcoin is better than Gold". We are certainly familiar with the statement. Especially for Bitcoin users who have long known the positive qualities of Bitcoin. One such trait is that Bitcoin is not created by the Central Bank or any government, but rather by a decentralized network that runs automatically based on mathematical algorithms so that it can not be influenced by anyone. Bitcoin price movements are fluctuating purely due to the influence of the law of demand and supply. In addition Bitcoin storage media is also relatively safe and can be taken anywhere, which can be stored on your smartphone. While Gold, if we have it in sufficient quantities we may need a safe that must be kept in a secret place so as not to be stolen by others.

Related to the advantages of Bitcoin over the Gold, a news also supports the above statement. Where it is written that Bitcoin is superior to Gold in recent months. Poured in a data, Bitcoin Investment Trust shares have nearly tripled in the past twelve months, and gained more than 30% in the last three months alone. Meanwhile, SPDR Gold's shares declined 3.78% in the last twelve months and only rose 4.49% in the last three months. Source: finance.yahoo.com (03/03/2017).

From the data it can be said that Bitcoin is more popular than Gold among investors. Whether this is just a sensation or something fundamental about digital currency. Where there is growing mistrust of the national currency in relation to government policies that encourage many people to choose Bitcoin. For example, in the last three months there have been events in India and Venezuela that people are trying hard to keep the government from getting rid of the old currency.

Thus we can infer some advantages that make Bitcoin better than Gold, especially for millennium generation who understand digital currency better than baby-boomergeneration. Bitcoin is an easy medium to make payments around the world. And the number is limited, that there will be only 21 million Bitcoin alone. But on the other hand, gold has its own advantages as well that can be used as a direct gift, such as jewelry. Therefore the policy of choosing to invest with Bitcoin or Gold is in your own hands.

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