Gold vs Bitcoin

turpsy (62) in bitcoin • 6 years ago

Twitter has been a good place to assess and reassess peoples' opinion about a lot of things. This is one of the good media to make some important inferences. A good poll that I saw recently was the one by a former congressman in the US. Ron Paul.

Looking at the poll, with almost 95, 000 participants, I can say the pulse of people regarding bitcoin to gold or other forms is higher.

While gold is one of the noble metals and it has been known as old as man, then it can naturally be regarded as a store of value. While it may be see as a safe haven, it is also limited by obvious factors like portability, divisivibilty and electronic.

While bitcoin is more preferable as regards these limitations, the price volatility is something that would also put some fears in many people.

However, the potential inherent in bitcoin is something that the whole world will come to benefit from, in years to come.

I chose bitcoin in the poll.

What would you have chosen?

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6 years ago by turpsy (62)

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polyn2057 (41) · 6 years ago

I would 90% go for Bitcoin. The 10% is due to some comments that I read that were mostly about the insecurity of Bitcoin. The 37% seemed to question the security of Blockchain. That's something I am yet to understand as well.

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turpsy (62) · 6 years ago

Insecurity with bitcoin is mainly due to the users. I mean if you own some bitcoin and you are careless with the security or you lose your private key you wont have access to the bitcoin again. As regards the security of blockchain, this is something that is mostly the priority, also since the coding are open source, if your blockchain has security lapses, it will be discovered before it becomes useful to the entire crypto community.

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