Do You Think Bitcoin Is Safe As Gold?

Bitcoin

Bitcoin and Gold are used synonymously as the safe havens & currencies. What’s safe haven? It’s one place you park wealth and money when there’s the high uncertainty in environment. This needs to be something everybody will believe in even though current institutions, players or governments in this business game aren’t available. Wealth needs to be maintained safe whenever you face any trouble. What’re risks to somebody’s wealth? There’s theft by the robbery if it’s the physical asset. There’s damage by flood, fire, and other elements. There’s a legal issue of not determining if asset is yours or not. There’s an access risk that you might own asset but cannot get the hands on it.

No Liability

One important aspect for gold and bitcoin is in creating them, there’s not any kind of liability involved. The national currencies can be issued with the interest attached that means there’s the liability to issuer of this currency. With BTC price, there need to be some consensus among players for such thing to happen.

Bitcoin Issues

Do you think there are any regulatory, systemic or institutional risks with BTC? Answer is yes. There are technology matters like who controls internet, electrical energy involved for mining Bitcoins and other issues in the infrastructure. The regulatory risks will run this gamut from limiting who buys BTC, and how many will be able to trade every day or issuing many units of the fiat currency or buying and selling BTC with them that will cause convulsions in prices of this unit, and leading to the mistrust or lack of use?

Author: Florence