Is Bitcoin Similar to Gold? I’ll explain it!
Bitcoin is sometimes referred to as being similar to gold. Is it true? I would like to state my theory about this! Factors that are said to be similar to Bitcoin and gold Bitcoin.
・ It does not depend on the government or central bank of a specific country
・ The amount that can be mined is limited
・It is traded worldwide
From such a place, it is said that it is similar to gold. Independent of the government or central bank of a particular country bitcoin transaction data is recorded on each computer participating in the Bitcoin network.
In other words, Bitcoin does not depend on the government or central bank of a particular country. For example, a 10,000-yen note is a currency issued by Japan, so the Japanese government guarantees that a 10,000-yen note is worth 10,000 yen. However, Bitcoin is not guaranteed to be of value because it does not depend on any particular country.
It’s the same as gold that the value is not guaranteed. The amount that can be mined is limited Both Bitcoin and gold have an upper limit on the amount that can be mined.
Bitcoin = 21 million issuance limit
Gold = 3.5 cups of reserves pool (it is said)
Both are the same where there is an upper limit on the amount. Traded worldwide This is something that I don’t need to explain. Cryptocurrency exchanges are located in various countries, and Bitcoin is also traded worldwide. That said, the market capitalization of gold is still larger, so compared to gold, the number of countries in which it is traded is limited.
Where gold is completely different from Bitcoin = whether it has practical value Gold has practical value, such as being used as parts for electronic devices and jewellery. However, since Bitcoin only exists as data, it is not worth converting it into a practical product like gold.
In that sense, I think it’s impossible to compare it with something similar to gold.
What is the practicality of Bitcoin?
Speaking of the practicality of Bitcoin, it means that you can easily send money. Originally, Bitcoin is You can send money “easily” and “cheaply” That was merit, but now I can’t send money cheaply. The price of Bitcoin itself has risen too much, so the fee has also risen (the remittance fee is also paid in Bitcoin). If you use Bitcoin, you should have been able to send money overseas for a fee of several tens of yen, but now it costs several thousand yen. The original merit of “sending money cheaply” has disappeared. Easy to send is still alive currently, Bitcoin can easily send money as long as it has a remittance destination address.
When sending money from a bank to the other party’s account, it is necessary to enter the bank name, branch name, ordinary account or current account, account name, and remittance amount. When it comes to sending money overseas, it’s even more troublesome.
However, when sending money with Bitcoin, you can send money simply by entering the Bitcoin address of the other party. You can send Bitcoin as easily as sending an email. Isn’t it really easy? Bachchan Isn’t Bitcoin practically valuable if it’s easy to send money? Old man That’s right, but I can’t say so If you can send money easily, I feel that Bitcoin is worth it, but I can’t say that! That’s because you can send money in virtual currency even if you don’t use Bitcoin. Rather, remittances in other currencies have lower remittance fees and faster remittance speeds. Bitcoin has an approval time when sending money, and the estimated approval time is about 10 minutes.
However, when a large number of people send money, the processing accumulates and it takes time. When I sent Bitcoin the other day, it took about an hour. Then, ” If you have a virtual currency that can send money faster, you should use that”, right ? When it comes to that, the practicality of Bitcoin also becomes questionable. After all, I feel that it is impossible to compare it with gold.
Still, as long as everyone keeps buying, Bitcoin prices will continue to rise
Now that the price of Bitcoin itself has soared, the remittance fee with Bitcoin has also increased, and the “umami” has disappeared.
If everyone starts to think and no one buys Bitcoin, the price of Bitcoin will drop. However, if more people buy it, the price of Bitcoin will rise. Whether Bitcoin is worth it ・ People who buy Bitcoin ・
People who keep holding Bitcoin It depends on when you can continue. Bachchan Isn’t it worth it because Bitcoin can be used for shopping with the camera? Old man Even if you can use it, it doesn’t make sense if the price of Bitcoin becomes almost 0 yen, right? Therefore, there are some parts where Bitcoin cannot be said to be similar to gold.
Just because gold continues to have value in the long run, I don’t know if Bitcoin will continue to have value. Still, as long as everyone keeps buying Bitcoin, the price will go up. Will the price of Bitcoin continue to rise? Will it crash somewhere? I don’t know.
Nowadays, it is said that “Bitcoin is a bubble”, but if you want to make money with Bitcoin, you will be able to get on the wave and make a profit. When it comes to bubbles, some people may have the image that the bubbles burst and lose money, but there are also people who have made a lot of money by riding the bubbles of the past.