Bitcoin digital gold

Most cryptocurrency experts agree that bitcoin is destined to become a major cryptocurrency in the ecommerce future. But perhaps a very different future of bitcoin. The vast majority of people holding bitcoin as a speculative instrument, and not as a means of mutual settlements. According to Forbes in 2014, more than 90% of bitcoins tend to accumulate.

hen Satoshi Nakamoto created the currency, he designed bitcoin imitating the scarce gold. Only 21 million bitcoins can be created. And when the reward per block will be reduced to 0.78 BTC this will lead to more desire for accumulation.

First of all, because bitcoin is designed so that the more the coins are stored, the greater must be their purchasing power — a classic deflationary model. Remember, how many stories have you personally heard about people who mainily or bought a lot of bitcoins when they were practically useless, and now these people literally own gold hard drives. Or not own anything because once bought pizza for 50 000 bitcoins.

Because most people perceive bitcoin primarily as an investment tool, which will make them richer, not as quick, cheap and independent payment system. Bitcoin is gradually becoming what it was created — a digital version of gold. It is mined as gold, it is not enough, as gold and he can't be forged, like gold. During all of this — bitcoin is much more convenient to store and transmit.