nice comparison, however, what really concerns me is the amount of gold in credit, as not every US $ bill has gold backing it!!
this is also what i don't understand what is backing BitCoin, is there gold ? is it calculated by the amount of energy spent for making it?
and if we think it is like stocks, usually there are assets behind the stocks,
i don't know ? perhaps we have not to look at it with the old lens....
Thank you :)
your absolutely right, i agree 100%
from what i understand, bitcoin is backed by the energy expended and complexity of the block to be solved; making it something of almos pure speculation.
now that more and more money is being converted into bitcoin i would suppose that whatever is backing the currency being converted is becoming the backbone of bitcoin
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Yah I agree,
so for the future, I think Bitcoin will be the future gold, as it will not be accessible to everyone due to it its value, probably it will be used for heavy purchases like cars and real estate.
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