Why Bitcoin is Better Than Gold!

Bitcoin is better than gold. In fact, I’m ready to say that Bitcoin is ready to replace gold. Here’s why:

Bitcoins are easily divisible to 8 decimal places, more in the future.

• Gold is not divisible.
• You can not easily cut up gold to give people small amounts.

• Gold is not instantly assayable.
• You can’t instantly tell if gold is pure.

You can instantly prove how many bitcoins you have.

• Gold is not instantly weighable.
• (Unless you carry a scale.)

• Gold is not transmittable over the Internet.
• Sending gold notes has counter party risk.

You can memorize your Bitcoin private key.

• Gold can be confiscated.
• You must store your gold somewhere.
• Gold possession can be outlawed.
• Governments can make it illegal to own gold.

Bitcoin’s P2P nature make nationalization of Bitcoin impractical.

• Gold can be nationalized.
• Governments can take control of gold mining operations.

I think that Bitcoin is definitely the future of value storage. However, until it truly goes mainstream, I’m still keeping some investment in gold. Luckily there are services out there that let you exchange your gold for bitcoins if you’re ready to make the leap!

Suggested reading:

The US governement has confiscated gold from citizens before:

Tags: Bitcoin, Bitcoin Gold, Coinabul, Gold, gold mining