Bitcoin vs gold
What is the difference between Bitcoin and Gold? In order to answer this question, we first need to understand how each asset offers value and its history of each. If we start with Gold, its been used as an asset of value for thousands of years with the first gold mine in Africa 7,000 years ago. If you think of the world 7000 years ago, we had undergone one of the greatest technological advancements which changed the world forever. This was when we started using agriculture to feed our population. With this change, we needed to have a way to trade for goods between cities and urban centers. Gold was the obvious choice due to its rarity and beauty. So, over 7000 years ago the value of gold was set and has maintained the same buying power throughout the years.
On Jan 1, 1983, the internet was invented and the world underwent another technological change that allows us to transfer information around the world with no limitations in applications. The world has evolved through the digital age at an unprecedented rate. Such as with the start of agriculture, the digital age allows us to advance technologies in Science, Engineering, Medicine, Entertainment, etc.. So it becomes natural that a new asset class would eventually be created. In 2009 Bitcoin was created as a store of asset value to be used to purchase goods and services.
Both Bitcoin and Gold provide the same basic functions in our society as each has very few applications beyond a store of value. Although with research being performed daily we will find more applications for Bitcoin as in using the blockchain technology for endless applications, the same Is being done to research gold in nanotechnologies, medicine, and computing applications.
When you evaluate Gold Vs Bitcoin in the end the only real difference is we can Hold Gold in our hands but we cannot touch or hold bitcoin.
ALL BACH GOLD created a crypto token that uses an algorism created by www.evaulm.com to purchase Bitcoin, Ethereum, ZCASH, DASH, Lite, and USD based on Evaulm’s EVM software. The token is up 103% since its inception in Jan 2020.