by winston » Sun Feb 28, 2021 8:04 am
5 Reasons Bitcoin Is Superior to Gold
by Matt McCall
1. Supply: Both gold and bitcoin have limited supply, but the argument is more bullish for bitcoin over the long term.
Winston's Comment: Is there really an unlimited supply of Bitcoin? There are various other Altcoins. But there's a limited supply of Precious Metals.
2. Authenticity: Bitcoin and altcoins can be verified on the blockchain in a matter of seconds. Verifying gold takes much longer and is more expensive.
Winston's Comment: You do not need to verify GLD, the ETF. And your bitcoin account and bitcoin exchange have been hacked before.
3. Transferability: Bitcoin is a digital asset, so it can be sent via the internet to anyone around the world with a connected device. Gold can also be transferred, but delivering a physical bar of gold is not easy (did I mention they're heavy?) and definitely not safe.
Winston's Comment: GLD can also be easily transferred to Cash.
4. Liquidity: Bitcoin is sold on any number of large, billion-dollar exchanges in a matter of seconds. Gold is not so easily converted into cash, making it a lot less liquid than bitcoin.
Winston's Comment: GLD can be converted to Cash easily
5. Legal Tender: Bitcoin is only 12 years old, but it is already a payment option at many places… with more joining the list each day. Tesla (TSLA) recently announced its hope to accept bitcoin as payment for vehicles. Gold, on the other hand, is rarely used to buy goods and services. Can you imagine walking into the mall with a bar of gold in your pocket?
Winston's Comment: GLD can easily be transferred to Cash
Bottom line: Bitcoin is the new digital gold.
Winston's Comment: Really? China, India and Russia have already banned Bitcoin. The US requires it to be taxed if there's any Capital Gains, removing the anonymity. I can see other governments banning Bitcoin and coming out with their own Digital Currency like China.
Source: Investor Place
It's all about "how much you made when you were right" & "how little you lost when you were wrong"