Actually today I watched a video on facebook which is about spending bitcoin and gold in USA,it says it is difficult to spend bitcoin but some places are accepting bitcoins accepting as payment like supermarket,restaurants and some institutions.But no one accepting gold as payment then why still people says gold is better?
it's the notion about gold that makes people think that it is better. gold does not corrode and is a precious metal and so it has been a symbol of wealth. that concept has stuck with many up to this time. also, it's tangible.
bitcoin, on the other hand, is something new. financial managers can't seem to find a proper category for bitcoin - is it a currency or a commodity? bitcoin holds characteristics of money such as durability, portability, divisibility, and limited supply.... except probably uniformity (?), and acceptability. governments still don't accept it and won't call it as such and so, it isn't a currency because the government says so. they call it a commodity because its characteristics is that of commodities - bitcoin has a global market, its price is determined by the market, and so is open to price fluctuations, and is very liquid. its value gets converted to fiat and it is the fiat value that people actually spend.
maybe it's the ancients or traditionalists who say that gold is better
. they still can't appreciate bitcoin because bitcoin is data and so, it can't be "held" the way you hold a coin. there's this notion that if you can't actually hold it, then you don't own it or that there's actually nothing and that you're just fooling yourself about having something really valuable when in fact, there's nothing.... so that must be the reason why others would prefer gold over bitcoin....
