Digital Gold – BlockPublisher

Bitcoin First True Test in Market Panic Situation is Here

Hassaan MalikMarch 9, 2020

Bitcoin’s First True Test in Market Panic Situation is Here

Bitcoin grew up in the era of post financial crisis of 2019. As the traditional stock markets crumble around the…

PayPal CEO Confirmed that he Owns Bitcoins

Fatir MalikNovember 21, 2019

Trusting only Bitcoin, CEO of PayPal Joins CEO Twitter

While giving an interview, the CEO of PayPal Dan Schulman revealed information about his crypto assets. He told that he…

Fatir MalikNovember 18, 2019

Bitcoin and Ethereum Should be Used as Collateral Rather a Medium of Exchange-Chris Burniske

Partner at venture capital firm Placeholder, Chris Burniske is a well-known personality in the crypto space. Settling the debate of…

Hassaan MalikNovember 14, 2019

Bitcoin Derives its Value from Store of Value

Although adversaries of bitcoin and other cryptocurrencies argue over the intrinsic value of all cryptos, bitcoin which is the world’s…

Hassaan MalikNovember 13, 2019

Will Bitcoin Derive its Value from its Use as a Medium of Exchange?

Despite being volatile, bitcoin is desirable among crypto enthusiasts and investors due to its capability of returning massive gains. While…

Since the advent of bitcoin, there has been an ongoing debate whether it should be termed as a commodity like gold or a transactional currency. To dive deeper, let's analyze what the traits of a transactional currency are. Anything that wishes to replace fiat should be fast, secure, should have minimal to zero transactional costs. For most people, bitcoin checks all these boxes, but bitcoin still lags a number of points that can put it far behind in the race of becoming a transactional currency. The volatility of bitcoin is one of the most prime issues that makes it more of an investment option rather than a currency. General masses and expert alike have been expecting the prices to rise instead of achieving stability. This instability has welcomed a lot of risk takers as retail investors to enter the crypto space but has pushed institutional investors away. Another aspect that puts bitcoin more out of the category of a currency is the time it takes for a transaction to complete. A currency used for transactions is expected to have speedy transactions while the 10 minutes block addition time puts a huge barrier in front of bitcoin in this regard. According to Zach Alam, the Chief blockchain consultant at onboard.one it is difficult that bitcoin becomes anything other than gold. He supported his case saying: "It’s slow to send, at ~10 minutes to confirm – we can’t expect shoppers to wait that long before leaving a store with their products. There’s not enough throughput, at 7 transactions per second – it’s not feasibly possible for there to be widespread usage. There’s no way to recover lost or stolen coins, this might be fine for gold, or as a method to preserve wealth, but the majority won’t be able to live day to day with this risk." The centralized alternatives that handle digital transactions, like Mastercard and Visa are way ahead in this domain, who allow thousands of people to transact per second without any delays. Another issue with buying through bitcoin is making a return policy. If a customer wishes to return a product or ask for refunds should the refund be paid in cryptocurrency or in the equivalent fiat? When prices have fluctuated significantly this can cause a good bit of contention between customers and merchants. With a fiat-pegged stablecoin this is not an issue. Countries are moving towards making their own blockchain based digital currencies backed by their native fiat, which also clearly explains the inclination towards stablecoins, and currencies that don't disrupt their economic systems as a whole. If properly tax administered and regulated, stablecoins can answer all of the above concerns put forward by bitcoin. On the other hand, if looked at by perspective of gold, bitcoin clearly checks all the boxes and provides a perfect alternative. Comparing BTC and gold, Martin D. Weiss, founder of Weiss Ratings, stated: Bitcoin does indeed have some characteristics that are akin to gold’s: Limited supply, robust security, as well as emphasis on being permissionless and censorship-resistant. But the differences are equally important. Bitcoin is digital, which means it’s free to store, easy to transfer, and, unlike virtually all other financial assets, carries no counterparty risk. This makes it a unique and ideal store of value. As its market cap grows and its price becomes more stable, it’s likely to become more popular as a safe haven.

Hassaan MalikNovember 13, 2019

Not Gold, Bitcoin is a Safe Haven

Although the volatile traits of bitcoin might not appear pleasing, if compared with gold, bitcoin is a much better store…

Bitcoin Price Stabilizes in $10Ks But Steep Plunge Still Expected

Ahsan KhalidAugust 18, 2019

Bitcoin Price Stabilizes in $10Ks But Steep Plunge is Still Expected

In the hindsight of geopolitical turmoil with US-China trade war intensifying and Hong Kong protests getting more attention, the “digital…

Ahsan KhalidAugust 15, 2019

Bitcoin’s “Digital Gold” Tag Put to Test As Gold Price Spikes

The geopolitical unrest across the globe has led to an increase in intensity regarding currency competition. The US-China trade war,…

Ahsan KhalidAugust 9, 2019

Bitcoin’s Correlation with Gold Amid US-China Trade War

US-China trade war has been escalating over the past few weeks and this has led to an intense currency competition…

Ahsan KhalidJuly 31, 2019

Bitcoin Price Nears $10k: Settling Over $3 Billion in Daily Transactions

Despite being just a decade old, bitcoin is making serious grounds in the financial world. The digital asset’s ecosystem has…

Ahsan KhalidJuly 15, 2019

Bitcoin vs Gold: Fed Reserve Chairman’s Comparison is a Win for BTC

In a testimony before the Senate Banking Committee on Facebook’s Libra cryptocurrency, the Chairman of the Federal Reserve Jerome Powell…

Shahzaib ZafarMay 22, 2019

Bitcoin (BTC) Price at $8k – Stirred ‘Bitcoin is Gold 2.0’ Debate

Tyler Winklevoss, chief executive officer of Gemini and one of the famous Winklevoss twins, in a Twitter post said that…

Ahsan KhalidMay 20, 2019

‘Millennials Love Bitcoin’ But They Should Learn About Gold ‘Love Trade’

The CEO of asset management firm US Global Investors and HIVE Blockchain Technologies, Frank Holmes was asked about one of…

Shahzaib ZafarMay 15, 2019

Bitcoin Price Will Reach $20K but It’s “Kind of Finished”

Former Wall Street executive and a bitcoin bull, Mike Novogratz has said during a speech at “The Herd is Still…

Fatir MalikMay 13, 2019

What Bitcoin Achieved in 10 Years Gold Couldn’t in 100

More than 10 million bitcoin (BTC) could be bought for the current price of one bitcoin ($7,300) a decade ago. Since…

Ahsan KhalidMay 6, 2019

‘Bitcoin Doesn’t Do Anything’ – Buffett at it Again

CEO of $250 billion multinational holding conglomerate Berkshire Hathaway, Warren Buffet, leave no stone unturned to diss at bitcoin, a…

Millenials Love Bitcoins? Fine, But Don't Deny Gold

Ahsan KhalidApril 16, 2019

Someone Puked $1.5 B in Gold & Bought Bitcoin?

Yesterday, someone dumped around 11,000 gold futures contracts into the market increasing its supply in the market and thereby sending…

Ahsan KhalidApril 7, 2019

Will Bitcoin Replace Gold As Currency Standard? The Knowingly-Unknown Race

The founding partner of Adamant Capital, Tuur Demeester, has in a recent interview with Stephan Livera stated that bitcoin is…