2013-03-21 Motherboard "Why Bitcoins Are Just Like Gold"

[mccorvic]

http://motherboard.vice.com/blog/why-bitcoins-are-just-like-gold

Bitcoin, in its present form, has a stark resemblance to gold. Both are backed by no one. Both are, relative to fiat currency, inconvenient for day to day use. Your gold coins or bitcoins (yet) won’t do much good at the grocery store. Both lack intrinsic value. If the apocalypse arrived tomorrow, your gold and BTC won’t help you survive against the zombies. Both have value only because society has confidence that they will maintain said value over time.

Very nice.

[Gabi]

True, bitcoin is digital gold

[MysteryMiner]

Both are, relative to fiat currency, inconvenient for day to day use

Bitcoin is more convenient to use than anything else. Buying pizza or ganja from your computer without going anywhere and without any fees. Far more convenient than cash.