Bitcoin has been making a lot of buzz and will still keep this for a very long time. In fact, it is going to look like gold in the ancient times but with the only difference being it can be traced by so knowing how many bitcoin is available and which wallet holds what, also, it id digital and decentralized.
A lot of people have asked if Bitcoin can stand head to head with gold or even have better advantages compared to gold and then I answer yes but for the sake of writing, let me give it a very interesting rundown.
Inflation proof
They both are resistant to inflation as more cannot be printed immediately. Unlike gold, it has a fixed amount that would be mined, which is a max supply of 21 million and currently 18,562,806 bitcoins have been mined but anyone could still dig to find more in Africa, in fact, there are several African countries that haven’t even touched their gold at all but the process of getting gold can be very difficult because the earth chemical composition is the major drive to getting more gold.
Mining
Bitcoin and gold are very similar as they are both mined, one with pick axe and pan or mechanical drilling and mining machines, the other (Bitcoin) requires high-powered computers or nodes and they have to solve complex mathematical problems to mine bitcoin. The process of mining makes it difficult and less available in circulation.
Price Increase Similarity
Gold in the ancient time went very high in value just the same way Bitcoin is doing now because it is just getting traction. Both gold and Bitcoin keeps increasing in value but Bitcoin has shown to be more profitable compared to gold.
Safe Haven Investment
A lot of people are really scared that the economy of the world is in trouble in few years and just need a safe haven to keep money as inflation hits the world really hard and Bitcoin and gold are safe havens.