Gold > Bitcoin?
I'm a Bitcoin fan, but I feel it's lacking in one major way from Gold --> nation state adoption. I recently decided to buy calls on $GLD (see my rationale: My $GLD calls are up 640%). But I had considered Bitcoin as well. To be clear, my beief in the nearer term is that Bitcoin is a store of value (I less believe the medium of exchange element). So I think BTC competes with Gold in that regard. I think Bitcoin's digital nature gives it intrinsic benefits over gold (e.g. easy to transport, easy to own/store, etc), but IMO bc Gold has had major nation state adoption, it has network effects that are v hard to beat. It's like saying, "ohh XYZ social network has these features that make it better than Facebook/Instagram"... Yeahhh you might get some ppl who rly care about those particular features to adopt, but the PRIMARY value of FB is the social network. Similarly BTC has better features but the primary value of a store of value is the social consensus. I might get roasted posting in this sub, but honestly I just want to hear counter opinions to strengthen or switch my beliefs so please share. submitted by /u/clavidk [link] [comments]
I'm a Bitcoin fan, but I feel it's lacking in one major way from Gold --> nation state adoption.
I recently decided to buy calls on $GLD (see my rationale: My $GLD calls are up 640%). But I had considered Bitcoin as well.
To be clear, my beief in the nearer term is that Bitcoin is a store of value (I less believe the medium of exchange element). So I think BTC competes with Gold in that regard.
I think Bitcoin's digital nature gives it intrinsic benefits over gold (e.g. easy to transport, easy to own/store, etc), but IMO bc Gold has had major nation state adoption, it has network effects that are v hard to beat.
It's like saying, "ohh XYZ social network has these features that make it better than Facebook/Instagram"... Yeahhh you might get some ppl who rly care about those particular features to adopt, but the PRIMARY value of FB is the social network. Similarly BTC has better features but the primary value of a store of value is the social consensus.
I might get roasted posting in this sub, but honestly I just want to hear counter opinions to strengthen or switch my beliefs so please share.
[link] [comments]
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