Introduction
You might have come across people comparing “bitcoins with gold” but is it worth it? It is an unavoidable fear that the bank system of the world is at stake. People all over the world are afraid to rely on the bank system and hence they are looking for alternatives to keep their hard-earned money safely. According to HFTrading, which shows people how to trade Bitcoin, some clever people have started to invest in assets and not keep their money in the bank. They believe that the value of their investment will appreciate more effectively and quickly. Are these financial pioneers setting the scene for a new trend, which will emerge in the cryptocurrency marketplace?
The idea of bitcoin trading and transaction through bitcoin is very new and, hence, there are not many of the applications which trade bitcoins. One such app is the Profit Revolution which has been already used by some of the existing users. Some financial experts have said that gold is complementary to bitcoins. It means that the strength and the weakness of the gold and bitcoin are fulfilled by each other completely.
Let’s Dig in Little More
All the existing proof of bitcoin and the economy system prove that gold and bitcoin will come together in the future to give shape to the future economy. Probably this is why the visual representation of the bitcoins is like a gold coin. It signifies the future representation of the bitcoin and gold together.
Gold has some stable value in the market, which means in the ancient times the ancient Roman families used to keep their gold assets buried under the ground of their house. Those gold coins and gold jewelry cost and value the same today as much as it used to value then. Gold is the correct balance that banks use internationally to measure the money flow in the economy.
$7 Trillion Gold = $33 Billion Bitcoin
Bitcoins are volatile and they are not even considered under the independent digital vapor of the banks. Gold can not be destructed or destroyed ever, it is also anonymous but no digital currency can be anonymous. Gold is tangible and portable with very little effort and all these qualities are prevalent.
If we come back to understand the relevance of bitcoins with gold then we will find, that bitcoin is most used for safe long-distance transactions. Bitcoins can be used in a transaction of an unimaginably huge amount and also in a very tiny amount. Small can be defined as transactions in fractional amounts which is not possible in case of bank transactions.
Bitcoin and Gold History
We can compare the history of gold and bitcoin and we will see some similarities with respect to the value of both of them. If gold can be considered as a “ savings account” then bitcoin can be considered as a “checking account”. You can always keep some bitcoin balance for the transaction and it can be in fractions also. The balance in the bitcoin wallet need not contain a large amount in the wallet.
As the need and demand would increase bitcoins will be taking the place of gold or gold will be taking the place of bitcoin. The importance of both the gold and the bit seems to rise together in an increasing amount.
Conclusion
Bitcoin and gold both can be considered as a long term asset, The prices or values of both the items may fall or rise consistently but the demand for both of them will never be less. Bitcoin payment is taken all over the world and it is very easy to use.
Video – Cryptocurrencies
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Interesting related article: “What is Bitcoin?”