EURO Pacific Capital and the chief strategy indicated that Gold increased by 3 % during the previous weekend from Friday to Monday. Meanwhile, the average BTC price decreased by 3 %. It was left by the reader’s investment processor to conclude that Bitcoin cannot be a digital version of gold.
Gold rose more than $ 90 today. This profit 3 % of the closure of Friday. During the same time period, Bitcoin decreased by 3 %. How can something be claimed to be a digital version of gold, like a mirror image of gold? Bitcoin may be digital, but there is nothing common with gold.
– Peter Chef (@PETERSCHEFF) May 5, 2025
But this may be a deceptive argument.
Peter Chef does not give Bitcoin credit
Bitcoin representatives in societies online compare gold, but by analogy. Nobody is not Peter Chef. It seems confused about whether BTC is a type of gold or ETF certificate.
The yellow metal analogy in the bitcoin white paper by Satoshi Nakamoto begins. Description how BTC creates new currency supplies, written on October 31, 2008:
“The fixed addition to the amount of new metal currencies is similar to the resources of gold mining workers to add gold to blood circulation. In our case, the time of the CPU and the electricity that is spent.”
In other words, Bitcoin has limited supplies and any participant in the network must spend the electricity and the time required by the BTC application in order to produce a new metal currency.
Live the thesis of digital gold
Michael Sailor on gold opposite Fiat against #Bitcoin pic.twitter.com/nzwfgv1bfp
– Vivek
(@Vivek4real_)) March 9, 2025
Later on the topic of commenting on his original post, Chef wrote:
“Gold is a 100 % fundamental value. Bitcoin is 100 % faith.”
But gold no It has a fundamental value. It has a useful value as a financial commodity due to the specific characteristics of its nature and the economy of our planet.
The scarcity, durability, fungi, and chemical identification of gold make it classic financial for human civilization. It was designed by Bitcoin’s (S) creators to create the creation of all these four features in a free, open, public or without limits database.
As for the BTC versus gold in terms of its performance as financial investments, Bitcoin has been designed to grant its holders from the seized central press presses. Traditionally, use people like Mr. Chef Gold for this purpose.
But Bitcoin has not yet failed to upgrade the level of gold reputation as Fiat shelter. In fact, this is done better than the yellow metal during most of the time extending to most types of investors.
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