Bitcoin Is Demonetizing Gold – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

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Bitcoin Is Better At Being Gold Than Gold Is

Decentralized: Bitcoin is more decentralized than gold. There are over 100,000 nodes all over the world verifying the Bitcoin blockchain. Bitcoin miners and developers are all over the world as well. Gold mining is subject to the jurisdiction they are located in and the local government can easily impose controls over the gold output since it is physical in nature. The same cannot be easily said with bitcoin mining since bitcoin is digital and can be instantly secured from control or confiscation by third parties. Central banks and governments control the vast majority of the global gold supply. Gold needs a custodian, or third party, to transact globally. Gold requires trust. We know banks control the custodian game, and governments and banks are closely intertwined. Bitcoin fixes this drawback of centralization and demanding trust. Bitcoin transactions, clearance and final settlement do not need trust in a third party. It is a peer-to-peer monetary system.

Censorship and seizureship resistant: As a peer-to-peer network, bitcoin is more censorship and seizureship resistant than gold, because bitcoin does not need to rely on centralized third parties to be transacted among people or entities. Since gold, by nature, needs to rely on third parties to be transacted at scale, those transactions can be censored or seized. Historically, people in oppressive nations have had to leave and migrate to other countries with nothing because they were robbed or their very own country did not allow them to leave with any material possessions. Bitcoin has liberated millions of people all around the world and allowed them to freely move to other cities, states and nations with all their wealth by just memorizing their 12-word seed phrase, which allows them access to their bitcoin. Bitcoin is liberating. Bitcoin is freedom.


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