You value the 'volatile' price of Bitcoin and Gold based on what? Fiat?
Remove all other currencies and bitcoin becomes worthless, just code on a computer it has no practical purpose besides a number. Gold can be used to build things, its innately valuable. So again, what innate value does a bitcoin have?
Bitcoin has two things precious metals will never be able to achieve: A secure, trackable, transparent ledger, and proof of work.
You honestly will never know the true value of gold and silver because we don't know how much gold or silver there truly is out there. There could be a million tons of gold someone is sitting on and if released into the market will cripple its value. As a matter of fact, ETFs are used to this day to manipulate the precious metals market.
Bitcoin is backed by its trust, its security, its transparency, and most importantly, energy.
So again, please educate yourself before making stupid claims.
Two things that are extremely worrying about these statements.
Bitcoin is backed by its trust, its security, its transparency, and most importantly, energy.
All of these is what fiat is backed by aside from "energy" are you saying bitcoin can power things? That seems ridiculous. Why would we use a fuel as a currency?
Also
: a secure, trackable, transparent ledger, and a proof of work
This seems like dictator-like control. So what happens if i make a purchase that the government doesnt approve of? Having every transaction be trackable by everyone seems like a major invasion of privacy. The only way i see that being used is in a situation where the person is not able to use funds responsibly and needs oversight. So government officials or the mentally retarded.
Remove all other currencies and bitcoin becomes worthless, just code on a computer it has no practical purpose besides a number. Gold can be used to build things, its innately valuable. So again, what innate value does a bitcoin have?
Bitcoin has two things precious metals will never be able to achieve: A secure, trackable, transparent ledger, and proof of work.
You honestly will never know the true value of gold and silver because we don't know how much gold or silver there truly is out there. There could be a million tons of gold someone is sitting on and if released into the market will cripple its value. As a matter of fact, ETFs are used to this day to manipulate the precious metals market.
Bitcoin is backed by its trust, its security, its transparency, and most importantly, energy.
So again, please educate yourself before making stupid claims.
Two things that are extremely worrying about these statements.
All of these is what fiat is backed by aside from "energy" are you saying bitcoin can power things? That seems ridiculous. Why would we use a fuel as a currency?
Also
This seems like dictator-like control. So what happens if i make a purchase that the government doesnt approve of? Having every transaction be trackable by everyone seems like a major invasion of privacy. The only way i see that being used is in a situation where the person is not able to use funds responsibly and needs oversight. So government officials or the mentally retarded.