BTC Hunts
Press Release

Reasons why Bitcoin is considered as a “digital gold”

Bitcoin is a blockchain-based cryptocurrency but shares most of the properties with
real gold, thus it has elevated status overtime to a point which many views it as
“digital gold”. To understand the reasons why current market considers bitcoin as a
store of value just as gold does, then below are the justification.

i) Rareness or scarcity
Supply of gold is limited. Its scarcity means that not everyone can have it and can
only be owned by purchase. Similar to traditional gold, bitcoins are in limited supply.
There can be a maximum of 21 million bitcoins, and thus, as the demand increases,
due to fixed supply, its value rises.

ii) Divisible
Gold can be melted and divided into smaller units. Mass is used in the measurement
of gold. Unit value remains constant despite the division. Bitcoins too are divisible,
and where it comes in handy is that it is easier to calculate to even up to a cent
worth of bitcoins. 1BTC is redeemable for $15,567.40. from this; you can figure out
which fraction of BTC is worth your amount.

iii) Impossible to produce a fake
Reproducing gold is almost impossible. What can only be achieved is counterfeits
which are easily seen. Clients can easily recognize original and fake gold. Similarly,
counterfeiting bitcoins is impossible as the market will know from the off that it is
fake and other bitcoin clients will ignore you.

iv) Purchasing power
When making payment, one can use gold depending on the market value. However,
using it in small transactions makes it hard; for instance, you cannot buy a meal using
gold. Just like its predecessor, you can use bitcoins when buying where it is accepted
as a payment means. Bitcoin has the upper hand here as you can break it down to a
cent worth of bitcoin, meaning that you can pay for anything using bitcoins.
Bloomberg predicts that Bitcoin will develop into a store of value like gold this year.
Bitcoin has all the characteristics of gold and even more advantages than gold. It is
safer, as you alone have the details to your account and proof against robbers. For
the best bitcoin market, Extoid provides one of the best markets to buy or sell
bitcoins. Security is a guarantee each client is assured of on their funds. You can get
access to your account from any corner of the world supported by all browsers. Extoid
provides the best, safest and fastest market for bitcoins.

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