Gold only has value because we perceive it to have value not because you can touch it, you can touch a rock but it doesn’t mean rocks have value. If people perceive Bitcoin to have value then it basically just becomes digital gold. The upside to gold being it has other use cases as you mentioned, can be worn as jewellery etc, upside to bitcoin is it can be transacted very cheaply and also stored very easily, gold can’t. Bitcoin being used as a day-to-day currency was dismissed years ago, it’s basically aiming to be a long-term store of value and inflation hedge, it just needs the volatility and speculation to dry up significantly before it actually has any true real-world utility and it might take quite a few more years for the market to determine its ‘true value’, but one thing for sure is that the current generation are more likely to want to hold bitcoin than gold and therefore it isn’t going anywhere
Having this perspective will make you miss out on so much opportunity in the market..
Everyone takes profit even diamond hands
Gold only has value because we perceive it to have value not because you can touch it, you can touch a rock but it doesn’t mean rocks have value. If people perceive Bitcoin to have value then it basically just becomes digital gold. The upside to gold being it has other use cases as you mentioned, can be worn as jewellery etc, upside to bitcoin is it can be transacted very cheaply and also stored very easily, gold can’t.
Bitcoin being used as a day-to-day currency was dismissed years ago, it’s basically aiming to be a long-term store of value and inflation hedge, it just needs the volatility and speculation to dry up significantly before it actually has any true real-world utility and it might take quite a few more years for the market to determine its ‘true value’, but one thing for sure is that the current generation are more likely to want to hold bitcoin than gold and therefore it isn’t going anywhere
Thanks for sharing your thoughts.