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Crypto News Why Is New Bitcoin Beating Mature Gold?

Discussion in 'Cryptocurrency News (HAPPENING!)' started by gbolahan, Oct 12, 2017.

Moderators: philipj, zedzed
  1. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

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    There are a few things to ponder as to why gold, as a mature asset, is losing its battle as a safe store of wealth when things go wrong. It has never let anyone down, yet Bitcoin, still very new and unprecedented, is streaks ahead in this race.

    It could be that it is simply that much more accessible. People have a much easier time acquiring Bitcoin, as well as the types of people buying Bitcoin probably would not know where to even start buying Gold.

    Cryptocurrencies are also not burdened by borders or of course physical locality, thus they again are that much more accessible. Being entirely digital, there is none of the hassle that comes with a physical store of wealth.

    Additionally, while Gold has stood the test of time, and has not had much revolutionary competition, there’s a feeling that digital currencies are here to take its place, rather than to live alongside it.

    However, one of the key reasons for cryptocurrency leading the race against gold is that its adoption is spreading like wildfire. Gold has built its market and essentially stagnated on it, while the Bitcoin hype train keeps steaming on.

    Those who want to own gold already own it, thus limiting new flows, while Bitcoin is still a nascent ‘product’ to be used as a potential hedge and an exciting and accessible asset.

    Why gold can’t keep up with Bitcoin
    • More wealth, and a vast array of wealth, can access Bitcoin
    • Bitcoin is not burdened by borders and physical location
    • Bitcoin could undermine gold as a direct competitor
    • Much more adoption of Bitcoin
    • Those who want to own gold, already do, its flow is limited
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