Here are five properties of real money:
Scarcity: limited quantities
Fungibility: they are interchangeable
Divisibility: the symbols are easily divisible, so you can divide them to smaller and smaller portions
Durability: the symbols can survive the test of time won’t be worn out or disappear
Transferability: the symbols can be easily transferred between owners
Gold has satisfied all five properties for thousands of years. It is widely accepted, divisible, scarce, durable and transferable. It has been suggested that the central banks of the world are manipulating precious metal prices to keep the masses from being alarmed.
Bitcoin are also fulfilling all five properties. The fact bitcoins are decentralized is a reason its price cannot be manipulated by central governments.
The difference between gold and bitcoin is its physicality. Bitcoins are basically an electronic unit; the blockchain ledger is the added quality of bitcoin ownership.
I encourage everyone to get involved in Bitcoin's naissance.
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Yours truly,
- Ben - chattrbucks
October 13, 2017