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There has been some discussion online of the value of bitcoin vs the value of gold. Both have value. The information presented here is neither an endorsement or a rejection. It is simply an objective comparison.
Gold occurs naturally in the universe. Bitcoin is a human creation. Bitcoin has an artificial existence. This artificial existence is dependent on human intervention for survival. Without the human intervention, how would bitcoin survive? Without human intervention, how would bitcoin propagate? Propagation is important because bitcoin and the blockchain are still growing and developing. To become a true global currency, bitcoin will need to have a much greater reach than it currently has.
Access to gold vs bitcoin is also important. Let’s use an extreme example. If Mars is eventually terraformed and colonized, and you decided to gather your resources and move to Mars, how would you take your bitcoin with you? Gold could be packaged and taken in some type of container. How would you transport bitcoin? Perhaps, if the Internet extended to the Mars civilization, you would still be able to access your bitcoin from Mars.
Is there a finite amount of gold in the universe? Does gold propagate in nature? Can bitcoin be propagated infinitely?
What is the cost of mining gold vs the cost of mining bitcoin?
Gold can be used for many things besides a means of exchange. Can bitcoin be used for anything beyond a means of exchange?
What are the environmental consequences of gold use vs bitcoin use? I suppose the answer here could be narrowed to the same environmental costs of using electronics since bitcoin is an electronic technology.
Is bitcoin a fiat currency?
Gold is often considered to be valuable based on its rarity. As bitcoin becomes more popular, will it’s abundance, or lack thereof, have an affect on its value?