What is the Instrinsic Value of Bitcoin? Or Gold?

Currently, the crypto market has lost 90 Billion Dollar in Terms com MCAP within 12 days and thre are countless “experts” predicting the end of crypto. Some say, Bitcoins do not have “Intrinsic Value” and thus are doomed to fail.

Let’s just compare it to Gold:

Bitcoin:

  • It won’t give you health or wisdom.
  • Cannot be eaten.
  • Unable to generate energy with.
  • Cannot be used as weapon.
  • Industrial Use: can be used as safe indepentend currency; has the potential to transform the IT (and financial) Industry.

Gold:

  • It won’t give you health or wisdom.
  • Cannot be eaten.
  • Unable to generate Energy with.
  • Cannot be used as weapon.
  • Industrial Use: About 30% of all Gold resources are used within the Industry (for example Health-care).

What About mining cost?

Gold:

  • AVG 1200 $ per Ounce. Source 1 ; Source 2 ; Source 3
  • Mining, Transportation and Melting also generate significant CO2 Footprint which can’t be lowered.

Bitcoin:

  • AVG 4700$ per Bitcoin. Source 1
  • Mining and safe Storage will take the most Energy. CO2 Footprint could be lowered with clean Energy.

This short comparison Shows:

Mining and using Bitcoins seems stupid and useless, but digging out yellow Stones in oder to melting them and storing them in Underground bunkers feels much dumber. And whilst Gold has reached ist absolute Peak in Terms of usability and efficieny, Bitcoin is just About to start. It has muc more potential in both ways: Getting cheaper to mine and broader in usability.

 

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