
There are some differences between Bitcoin and gold, discussed below.
Gold🥇
When it comes to gold, we need to go back a bit.The amount of gold in the world is limited.America traded on the Gold's standard until 1933 and Britain traded on the Gold's standard until 1931.After a while, Britain decided that they would no longer be completely dependent on gold, so they created their own currency, shortly after that America created their own currency.Through this, one thing is clear with the passage of time, the use of gold has decreased more than before, once it was the wealth of people's trusted product, now it is not the same as before.There were several logical reasons behind the decline in gold consumption.
1: The exchange of gold was not an easy matter.
2: It is true that the government and people of every country used gold to deal with inflation.
3: Inflation has been increasing over time which has become a major problem.
4: You cannot buy or sell gold in a short period of time or easily, this is a big problem.
4: Another major problem is the need for a third party to exchange gold i.e. through banking operations.
BitcoinBTCSatoshi Nakamoto launched Bitcoin in a forum in 2009.He said that Bitcoin is a decentralized currency.This digital currency will be based on Blockchain technology.Bitcoin Supply Limited (21 million) This coin can never be created again.Another interesting fact is that supply of gold is limited whereas supply of Bitcoin is limited.
Since 2012, people's interest in buying gold has decreased to a great extent. What is the reason?
People are slowly moving towards new technology,they are showing interest to know about bitcoin,they believe that bitcoin is digital gold, every year bitcoin users are increasing, there must be some logical reason behind this.
1: Bitcoin is not controlled by a country's government or bank, it operates in a Decentralized digital currency.
2: Bitcoin exchange does not require a third party.Transfer from one wallet to another wallet takes 10 to 15 minutes maximum.This complex matter of exchange is people through Bitcoin Being able to do it easily is a big deal.
3: 50% of the world's people do not have a bank account.But 80% of people who have an Android phone and have internet access can open a wallet and exchange bitcoins through an Android phone at will, a big benefit.
3: Another benefit is that every country has its own currency, but a lot of money has to be paid to change from one currency to another.If bitcoin is accepted as a currency by the people of the world then it is possible to solve the problems in this exchange etc.
The use of Bitcoin has increased a lot, the world's biggest businessmen are investing in Bitcoin, the country of El Salvador has also adopted Bitcoin, the United States is focusing on adopting Bitcoin, and other countries are leaning towards adopting Bitcoin.
I prefer long term investment in Bitcoin.
Long-term investment in Bitcoin reduces risk and yields real success.