Similarity between Bitcoin and Gold..

[GoldenLady]

The most prominent similarity between gold and Bitcoin is the scarcity and limited availability. This makes them more in demand, and this makes the price to be high.

This also makes them to be used as a measure of value, and as investment tools.

But Bitcoin falls short in this aspect due to its highly volatile nature.

 

[Afoskalex]

Both are scarce goods that cannot be produced though extracted. Both have limited supply. Both are speculative investment. Both have storage procedures.

 

[Abdulmumeen]

The similarities between Bitcoin and gold start from the process to obtain new units of the asset. Moreso, Bitcoin conception occurs through a process called mining. This term is used because of its similarities to gold, as both are scarce goods that cannot be produced by humans, only extracted.

Post automatically merged: Jan 10, 2021

The most prominent similarity between gold and Bitcoin is the scarcity and limited availability. This makes them more in demand, and this makes the price to be high.

 

[Heatman]

I think before the creation of Bitcoin, Satoshi Nakamoto person or group they are copied the idea of exploration mining process from Gold mining exploration process. Because I think there are many similarities between Bitcoin and Gold.
The color of Bitcoin logo similar to the color of Gold, mining process for Gold using a tools and heavy machine, mining process for Bitcoin using a small machine...etc

What do you think about the similarity between Bitcoin and Gold?... Is possible copied from Gold?..​

Well, it's very clear in my opinion that Gold isn't as volatile as bitcion or other cryptocurrencies. Yes, both of them are traded online but gold physical vaule even makes it have more grounds. Bitcoin may be very expensive but people do still love to go into gold trading investments.

 

[Dowenship]

Well the similarity I don't think is much should be the value of each is high but bitcoin and gold have a lot of differences and bitcoin is digits unlike gold so its hard to see any similar it in this two coin. But a lot of differences is there. Who knows if there Is similarity ??

 

[Ridorz]

Both Gold and Bitcoin are similarly to each other. The both gold and Bitcoin are good and lucrative to invest on, they are cost to buy but profitable. There is no much different between them, the name is the deferent, the both can raise and fall at unpredictable time.

 

[kayode10]

Both gold and cryptocurency have some common similitude. The of them have the capability to rise above the inflation. Both are very rare, that's just like it is hard to see an ounce of gold, the same goes to cryptocurency like Bitcoin which takes lots of resources to mine. Both has high potential to make someone rich. A story is told of a Miner who struck 36 ounces of gold and becomes rich. The goes for a man who $2 million within shot time just by investing in cryptocurency.

 

[Heatman]

Well the similarity I don't think is much should be the value of each is high but bitcoin and gold have a lot of differences and bitcoin is digits unlike gold so its hard to see any similar it in this two coin. But a lot of differences is there. Who knows if there Is similarity ??

All I can say that is similar in both gold and bitcoin is that people invest in both commodity and it pays a lot of money on the return of investment. Another one is that both can be traded online irrespective of the nature, whether it's in number digits or hard form.

 

[Adeyoola7]

The similarities between gold and Bitcoin start from the process to obtain new units of the asset, Bitcoin conception occurs through a process called mining. This term is used because of its similarity to gold, as both are scarce goods that cannot be produced by humans, only extracted.

 

[moonlight]

I thought that when you look at the shape of Bitcoin, it's almost equivalent to gold. Both are similar in nature. Before embarking on something that would over time replace Gold, Mr. Nakamoto Satoshi and his party copied some certain stuff about Gold.

 

[Ifeayomi]

The two are similar in nature of wealth but they are not the same because before introduction of bitcoin many people are running after gold to make wealth through forex trading and they are making cool money. The moment bitcoin was introduced people go crazy because of the wealth it brings on the table. And making hugs money from the trading of bitcoin lot of people including me have forgotten about forex trading

 

[ossai]

The similarities between gold and Bitcoin start from the process to obtain new units of the asset, Bitcoin conception occurs through a process called mining. This term is used because of its similarity to gold, as both are scarce goods that cannot be produced by humans, only extracted. In the creation process of a bitcoin, computers connected to the network compete with each other to solve mathematical problems. The estimative is that Bitcoin grows within a restricted range of up to 21 million units due to technological limitations. Like gold, there is a limited amount of Bitcoin supply.

 

[Lyrrex]

The similarities between gold andBitcoinstart from the process to obtain new units of the asset, Bitcoinconception occurs through a process called mining. This term is used because of its similarity to gold, as both are scarce goods that cannot be produced by humans, only extracted.

 

[Oliver 20]

Solidness. Both bitcoins and gold are entirely sturdy. Bitcoins require the web and bitcoin excavators, however on the off chance that we lose the web we clearly have more concerning issues. Gold may erode somewhat if not took care of cautiously.

 

[Saba54]

I think before the creation of Bitcoin, Satoshi Nakamoto person or group they are copied the idea of exploration mining process from Gold mining exploration process. Because I think there are many similarities between Bitcoin and Gold.
The color of Bitcoin logo similar to the color of Gold, mining process for Gold using a tools and heavy machine, mining process for Bitcoin using a small machine...etc

What do you think about the similarity between Bitcoin and Gold?... Is possible copied from Gold?..​

The similarities between Bitcoin and gold start from the process to obtain new units of the asset. Moreso, Bitcoin conception occurs through a process called mining. This term is used because of its similarities to gold, as both are scarce goods that cannot be produced by humans, only extracted.

Post automatically merged: Jan 10, 2021

The most prominent similarity between gold and Bitcoin is the scarcity and limited availability. This makes them more in demand, and this makes the price to be high.

I think both arr made up of gold material as same but both have difference in its rate and market. Bitcoin is basically a recognition of coin but we can not say that people wear them but gold is an ornament people not only buy sell them but wear them.

 

[Chris]

Well the similarities between them is noticeable Like gold, there is a limited amount of bitcoin. Satoshi Nakamoto, the pseudonymous creator of bitcoin, limited the total supply to 21 million tokens. Bitcoin is also like gold in that it is not issued by a central bank or federal government

 

[Mawome]

There is no atom of similarity between Bitcoin and gold, in terms of value you can not compare them, in terms of price, you can not still compare them too, Bitcoin is higher than gold in all ramifications, I prefer Bitcoin more than gold and silver, gold has less value in my country.

 

[Zamaney]

Both are same by the way, The similarities between gold and Bitcoin start from the process to obtain new units of the asset, Bitcoin conception occurs through a process called mining. This term is used because of its similarity to gold, as both are scarce goods that cannot be produced by humans, only extracted

 

[Josephjossy]

I don't think that Bitcoin and gold have anything in common. The are two different things from different categories. Bitcoin is a crypto currency. It is a digital stuff, gold is a physical stuff. They are two different things from different categories

 

[HayKay]

The only similarity is that they're both valuable and limited in supply. That's why there's a lotta rush when it comes to these assets. Plus the fact they're widely accepted means of payments is a factor as well.