If Bitcoin is Gold What Will be the Equivalent Metal of Other TokensMay 20, 2019
Bitcoin is currently positioned in a positive zone and trades with a bias crossing the $7,650 mark. The MACD is slowly moving in the bearish area.
A recent tweet read: “$BTC has just successfully printed another HL. It’s a matter of time before we see + $9k.”
Tyler Winklevoss continues to look at Bitcoin as “gold 2.0”. He opines that cryptocurrency “matches or beats” gold. The “3,000-year headstart” is the only thing that Gold has when compared to BTC.
Tyler Winklevoss tweeted, Bitcoin is gold 2.0. It matches or beats Gold across the board. Its market cap is ~140bil, Gold’s market cap is ~7tril. Do the math!
He provides some factual data to confirm his claim of BTC beating gold. Grayscale investments explained that BTC is mathematically scarce. The scarcity is because BTC caps at 21 million units. BTC being decentralized is verifiable via the internet. It is portable and divisible using digital technologies. It is unconfiscatable. However, gold, according to Grayscale investments, has an unlimited supply. There are centralization risks associated with the metal. It is not possible to divide and move around the metal. There are concerns relating to its purity.
Comparing factors like shipping, transferability, low-cost storage, borderless, weightlessness, fast transfer value, easy verifiability, limited supply, limited controls, and other factors Grayscale Investments opine that Bitcoin is better than gold.
Grayscale launched an extensive campaign touting BTC as “Gold 2.0.” it is opined that it will be a no-gold world if the world will realize the potential of Bitcoin. However, there are other coins like ETH, stellar lumens, Litecoin, and a range of smaller coins like TCAT tokens. What would be their equivalent?
Just like one metal has a particular use, tokens have a unique use case each. Every company is trying to bring its virtual currency closer to the average person. Bitcoin, however, continues to dominate the news. From trading desks through accepting Bitcoin as a medium of exchange, the token continues to dominate the news.
Several banked and unbanked populations are beginning to get access to payment channels while different companies are doing their best to introduce the merchants to the cryptocurrency ecosystem by improving on their use cases.
A blog from Xeonbit stated, “Decentralized digital currency is slowly becoming a normal part of everyday life. People’s main internet device continues to be their mobile, a device with a low-powered CPU, and limited available storage.”