Bitcoin vs. Gold - Which one to invest in?

Perhaps the most apparent difference between Gold and Bitcoin is this: Gold is a tangible physical Precious Metal, whereas Bitcoin is digital. The distinctions between the two run much more profound. Gold is a Precious Metal used by mankind as a medium of exchange for millennia. It is also useful in technology and manufacturing and is appreciated for its beauty in the form of jewelry, art, and keepsakes.

Physical Gold is widely regarded as a sound long-term investment and a hedge against market volatility. Bitcoin, on the other hand, is a coded, crowdsourced currency that did not exist until 2009. Bitcoin is the world's first decentralized digital currency. This novel system for virtual money was first proposed by software developer Satoshi Nakamoto in 2008 and made available to the public in 2009. This system allows members of the Bitcoin community to mine new Bitcoins using open-source software to solve complex mathematical equations.

The total supply of Bitcoins that can ever be mined is capped at 21 million. The record of its transactions between different addresses represents a Bitcoin. Addresses consist of randomly generated sequences of letters and numbers. Users purchase Bitcoin by using another series in the form of a private key that is kept secret. Miners must verify all Bitcoin transactions. Bitcoins provide users with a unique trading experience.

​Unlike the American dollar and British pound, Bitcoin also referred to as cryptocurrency, is not regulated by a single central bank. In theory, this means the virtual currency is decentralized, democratized and can be accepted anywhere in the world. It also says that Bitcoins are unregulated, which can open the door to corruption. #Gold #Investing #Bitcoin #Commodities