Comment by mertd
4 years ago
You need to pay the miners just to be able to transact with Bitcoin. Gold on the contrary, you can just hand it over to someone else.
4 years ago
You need to pay the miners just to be able to transact with Bitcoin. Gold on the contrary, you can just hand it over to someone else.
It's way more expensive to store and transport gold than bitcoin, although it depends on the amount. You also have to price in the protection provided by local authorities that protect your property, in addition to your own security measures.
You need men with guns to move gold between banks, which themselves are protected by men with guns.