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zby
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June 13, 2017, 07:08:44 AM
 #1

A comparison of Bitcoin and Gold as Proof of Work systems: https://medium.com/@zby/proof-of-work-8d8265def194
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August 04, 2017, 06:46:23 AM
 #2

Bitcoin  is a gold.
Bitcoin well  be prof or work for everyone  at time of the trough.
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August 04, 2017, 01:44:18 PM
 #3

Bitcoin and gold has several advantages and disadvantages, but I consider bitcoin is better than gold.
In some ways bitcoin is better than gold— it is way easier to transfer big amounts, easier to hide etc, it will have a more stable supply and at some point in the future no supply at all — 0% inflation. In other ways it is worse — first of all it is much more fragile: gold can function even if it is no longer mined, in bitcoin mining is mandatory

Bitcoin value will always growing, and this article mentioned after all blocks have been mined when miners reward will come entirely from transaction fees. This problem has been discussed many times, and I think in the future when bitcoin transaction become mainstream and could afford maybe more than 100K per second, then bitcoin fees should be enough, but who knows.
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August 04, 2017, 05:27:23 PM
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Bitcoin and gold has several advantages and disadvantages, but I consider bitcoin is better than gold.
In some ways bitcoin is better than gold— it is way easier to transfer big amounts, easier to hide etc
It could be way harder to hide big amounts of bitcoins. Blockchain is a public network, even the connection between mt gox and btc-e was uncovered. While you can always make a safe stash and hide your physical gold. I'm not sure what option is better but there is no easy way to do it.

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August 05, 2017, 11:06:14 AM
 #5

Bitcoin and gold has several advantages and disadvantages, but I consider bitcoin is better than gold.
In some ways bitcoin is better than gold— it is way easier to transfer big amounts, easier to hide etc
It could be way harder to hide big amounts of bitcoins. Blockchain is a public network, even the connection between mt gox and btc-e was uncovered. While you can always make a safe stash and hide your physical gold. I'm not sure what option is better but there is no easy way to do it

It is six of one and half a dozen of the other

Just like you can't safely hide large amounts of Bitcoin, you can't safely hide large amounts of gold. You can hide a few gold coin or bars but what about hiding a few tonnes of gold? First, you can't accumulate that much without being noticed (and likely asked where all this wealth comes from), and, second, you would need a bunker with guards to keep this gold safe and likely become a government itself at that (or a bank in the very least)



You may want to find out how Fort Knox is protected

......
.L I V E C O I N . N E T.
.
..PROFITBOX..
██  █████████████████████████
  █████████▄      ▄██████████
█████████████▄  ▄████████████
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█████████████████████▀   ███
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████  █████▀     ██    ████
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.....
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October 02, 2017, 08:44:48 AM
 #6

For me bitcoin is a gold it is tangible and others will mining it through a computer with high videocard and specs. Smiley
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October 02, 2017, 09:49:03 AM
 #7

For me Gold is a material or a physical thing while Bitcoin is a imaginary,digital or virtual. For the proof of work, gold was first use for exchange in different commodities in our past with a high value. Bitcoin was different in term of commodities being serve as a records of transactions with different addresses that usually miners use.

Bitcoin is more advance than gold specially for transaction wise but since it is being mined and fkuctuation of the price was volatile, gold will be still valuable in terms of currency and sustainability.

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