Bitcoin vs Gold
Bitcoin is often called "Gold 2.0" because they share many of the same traits. As we have magazines dedicated to "head to head" matchups in cars, motorcycles, computer parts, cell phones, etc. - perhaps we should have a head-to-head matchup between gold 1.0 and gold 2.0, Metal vs Digital. Money is commonly recognized to have six essential elements that....
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Bitcoin is not a gold standard as it is independent, without the intervention of any central bank or government agency. There has been a lot of comparison between bitcoin and gold in the recent times. Bitcoin has been compared to gold in many aspects. In fact, bitcoin is also called digital gold for a reason due to various similarities it shares with the yellow material. However, referring to bitcoin as a gold standard may not be relevant. The gold standard is a reference to the monetary system that was based on the value of gold. While most countries stopped following the gold standard....
The Winklevoss Twins have described Bitcoin as better than gold because it experiences ‘a lot less volatility’ and is a better store of value at the moment. They cited a Wall Street Journal story in May which described how the virtual currency has been more stable than gold over the last 28 days. Tyler Winklevoss said: “So I think investors who have gold in their portfolio and other precious metals have started to look to Bitcoin as a better store of value. It’s got better characteristics than gold itself. So it’s actually better at being gold than gold. We are seeing investors recognise....
A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the....
Bitcoin maximalists have always been known to refer to Bitcoin as digital gold. There are speculations that Bitcoin will overtake gold in the coming years as a preferred store of value. This seems to be the case with each bull market as Bitcoin outperformed gold by 10 times in 2020. Gold has always been a […]
Last year, the Winklevoss twins predicted that Bitcoin is set to become Gold 2.0, right now it's starting to look as if they might well be right. Every day, according to estimates, around £220bn of gold changes hands in London. The gold price has been set since 1919 by the London Gold Fix. but, of late, the gold fix mechanism has been somewhat losing its luster. There have been growing concerns that the London Gold Market Fixing Limited, which is owned by Barclays, HSBC, Société Générale and Scotiabank, may have been manipulating, or at the very least allowing the gold price to be....