Parachainglobal：Similarities between Bitcoin and gold

Parachainglobal：Similarities between Bitcoin and gold

In the old days, the amount of gold mining itself also weighed the development of a country. Bitcoin has many characteristics that are the same as gold. Next, a little bit of analysis:

 

1. Severability

 

The amount of a transaction can be 1 bitcoin, 0.1 bitcoins, or even smaller, which is similar to gold.

 

2. Stability

 

For gold, the so-called stability means that it will not disappear out of thin air or increase out of thin air. For Bitcoin, as long as you keep your wallet and password well, no one can steal it from you. Therefore, Bitcoin has relatively good stability, and it also has security that gold does not have.

 

3. Rareness

 

The total amount of Bitcoin was limited to 21 million as early as the beginning of the design. Over time, the output of Bitcoin will get lower and lower. In the end, like gold, after reaching a ceiling, the output will no longer be produced, so that there will be no hyperinflation caused by the government's indiscriminate issuance of banknotes.

 

4. Decentralization

 

Bitcoin transactions are like a public ledger that exists in the online world. Everyone can check and download it. Everyone can have an account book, or it is more like a software that can be updated at any time. Our books are updated at any time. No government can control this process. It is independent of the world goods. Outside the currency system, it is closely related to this system, which is the same as gold.

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