Is Bitcoin considered the "Gold" of crypto-currency?
A lot of people say that Satoshi Nakamoto's creation became a new type of Gold (Digital Gold).
But is it really? There is nothing in the world that can copy gold.. which is why it's rare, and Bitcoin already has something JUST like it.. Litecoin!
I'm not saying I invest in Litecoin, but if it's basically a clone of "digital gold" then it may not be a bad investment (If bitcoin was really digital gold)
Is Bitcoin more like the dollar..
It seems to me like the best answer I can get to why bitcoin is used for pretty much everything in the crypto world was, because basically it was the first crypto-currency, and is the most popular/widely used crypto-currency..
Now even the dollar was very reliable and even backed by gold at one point.. It is not currently (But China's Yuan is now) So that goes to show that popularity or "most widely used" is not always the best.
But no I DON'T think Bitcoin is like the Dollar.. I think because the dollar is printed it is more like monopoly money..
Sadly though Bitcoin has been out done.. by the original Ethereum!
I am not saying that I think Ethereum OR Ethereum Classic will replace Bitcoin even though both have the capability.. I'm just saying Bitcoin is being out done.. Not to mention uses way too much energy.
If Bitcoin wasn't considered the gold of the digital world.. what is?
I think things like BitGold would be considered more like the gold of the digital world, because you can withdraw it in REAL gold, but once again I don't have any of that either :/
And honestly I think NOTHING can be considered "digital gold" because anything can be changed..
So the real question we should be asking is "Can Bitcoin or any crypto-currency be considered BETTER than gold..?"
I think it IS better, and way more useful than gold as we move into a digital world.. So even though gold has great value it should be seen more as a commodity instead of a currency..