The GOLD scream room

[dualstow]

Interesting that as some investors panic, gold is going up while bitcoin is going down. That doesn’t mean bitcoin won’t “win” eventually of course, but you can see that people still trust gold.

I hate when people call Bitcoin "digital gold".
…
Current situation shows it is not.

Yep, it’s just marketing. Everything gets compared to gold at some point. I guess it was a foregone conclusion that crypto would, too.

[seajay]

Yep, it’s just marketing. Everything gets compared to gold at some point. I guess it was a foregone conclusion that crypto would, too.

Bitcoin:

• Fungible? Not without a audit trail of interchanges

• Divisible? Not without a audit trail

• Tangible? No, only exists as a digital record, isn't backed by physical assets, its value is derived from scarcity and trust.

• Non harmful solid rather than inert gas or liquid? Nope.

• Can be passed to others directly. No, not without a audit trail record to change the passport (private key).

• Requires others/third parties.

Previously many saw bitcoin as a alternative to gold, sold gold to buy bitcoin, nowadays that seems to be reversing. Bitcoin regulations/controls make it little different to holding a leveraged tech stock index fund.

[dualstow]

Previously many saw bitcoin as a alternative to gold, sold gold to buy bitcoin, nowadays that seems to be reversing.

Of course the intangibility is generally seen as a plus.
Divisible: isn’t it the ultimate divisible instrument?