Bitcoin is best for stores of value. Not for transaction. Similar to gold.
Here are some of the advantages of BTC over gold:
- BTC has a hard limit of 21M. While gold has no hard limit. If gold prices go up, new mines will be open. Gold can be created in labs (high cost) and we may soon have astroid mining.
- Gold is easier to confiscate.
- Gold is harder to transfer.
I'm not saying to not invest in gold. Gold has many advantages. I listed above only the disadvantages. But a diversified portfolio should have both.
P.S. I agree with you we should create gold backed Stablecoins. That would be awesome.
The world’s richest man appeared virtually on stage with Tommy Robinson at the Uniting the Kingdom rally for free speech.
Let me be clear: when the world’s most successful businessman recognizes the country’s decline, it is truly time to wake up.