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Author Topic: Bitcoin is more of a gold rather than a currency  (Read 553 times)

TomBite

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Bitcoin is more of a gold rather than a currency
« on: August 22, 2017, 12:37:38 AM »
Bitcoin is a digital currency and just like the fiat money it can be a medium of exchange especially between a seller and a buyer in simplistic form and explanation. However, what is happening right now is that people are holding on to their Bitcoin and not spending too much because we are all anticipating its further rise in value...in other words we are all speculating.

That is why, for me Bitcoin is more like a gold which is the traditional safe haven. Gold are not being spent normally and they are just stored somewhere but there is no question of their intrinsic value.
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psalms23

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Re: Bitcoin is more of a gold rather than a currency
« Reply #1 on: September 05, 2017, 02:53:22 PM »
I think you right in some point. But I don't fully agree that bitcoin is like gold because of its volatility. Gold price is surely rising, but I didn't see it's price falling like bitcoin does, which is a lot in just days. If you invest in gold, you are sure that if you sell it someday you'll surely get higher price, but in bitcoin, you'll always have the doubt.