Bitcoin vs fiat currency vs precious metals (table, at a glance)(sub.garrytan.com)

sub.garrytan.com

Bitcoin vs fiat currency vs precious metals (table, at a glance)

http://sub.garrytan.com/bitcoin-vs-fiat-currency-vs-precious-metals-table-at-a-glance

1 comments

Issuance for bitcoin is not "algorithm", it's all the resources expended in running miners and developing new miners. Storage of fiat currency is arguably very cheap as well, since only a tiny fraction of it actually exists as paper and coins. Scarcity is fixed for precious metals as well, since there's only a fixed amount available on the planet (unless you want to go mine on other planet). Security, Counterfeiting for Bitcoins should have a giant asterisk pointing to a footnote about the difficulty of securing them, and how often they are stolen from both individuals and exchanges. Bitcoin Fiduciary Media is possible and inevitable as soon as bigger banks and institutions (esp. insurance companies) get involved (there's nothing technically stopping the creation of Bitcoin 'derivatives').