Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Gold fell on Friday and recovered over the weekend. BTC certainly remains a more speculative asset than physical gold, but the comparison is not as unhinged as you make it sound.


Gold is the, uh, gold standard of safety bets and has run up lately to due comprehensive craziness around the world and especially in the US.

How is BTC not the exact opposite of gold? It has no fundamentals whatsoever, no uses outside its transactability, and is widely used to speculate.


> How is BTC not the exact opposite of gold?

If BTC is the exact opposite of gold, it follows that Eth, Ripple, USDC, etc are all more gold-like than BTC. I'd be interested to hear why you believe that to be true.

BTC is a coin with longer investments and does not fluctuate as much as other cryptocoins (by %). It has a known supply (past, present and future) and predictable mining rate. It has a known finite future supply cap.

To be clear i don't believe BTC is a perfect gold analog. But if you have to pick the "most gold-like" digital asset, it would make my short list.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: