Re:Gold price rises above $2k for first time
by gruez on Wednesday August 05, 2020 @08:46PM
(#24067144)
>* It has a special tax-free status in some legislations.
don't you mean jurisdictions?
>* It can hardly be destroyed (you can easily loose your bitcoin when your hard disk dies)
>Seems like a good choice if you see the risk of [..] a state taking your money.
This doesn't really make sense. Sure, you'd lose your bitcoin, but only if it was the only copy. Since bitcoin is stored as information, you can store as many copies as you want. You can't do that with gold. The non-physical nature probably makes it better than gold if you have a proper backup plan. Also, if your goal is to guard against someone (including the state) taking it, bitcoin is also hard to beat. Gold takes up space proportionately to how much you have, so it becomes harder to hide the more you have. With bitcoin you can hide an unlimited amount anywhere - between the pages of a book, under a rock in your garden, even inside your head.
don't you mean jurisdictions?
>* It can hardly be destroyed (you can easily loose your bitcoin when your hard disk dies)
>Seems like a good choice if you see the risk of [..] a state taking your money.
This doesn't really make sense. Sure, you'd lose your bitcoin, but only if it was the only copy. Since bitcoin is stored as information, you can store as many copies as you want. You can't do that with gold. The non-physical nature probably makes it better than gold if you have a proper backup plan. Also, if your goal is to guard against someone (including the state) taking it, bitcoin is also hard to beat. Gold takes up space proportionately to how much you have, so it becomes harder to hide the more you have. With bitcoin you can hide an unlimited amount anywhere - between the pages of a book, under a rock in your garden, even inside your head.