Question

Many people will say that Bitcoin is just like using gold or even paper money as...

Many people will say that Bitcoin is just like using gold or even paper money as a store of value. Why is that not true?

Homework Answers

Answer #1

Bitcoin is a form of transferring money over the internet and it is of the value as of real money. It is a form of digital/virtual currency.


Using Bitcoin as a method of exchange for purchase or sale purpose is not considered just like using gold or even paper money as a store of value as there is a lot of price fluctuation in Bitcoin.

Using Bitcoin is like a share market investment which can go high and at a time very low. The value of Bitcoin is not fixed as compared to gold or paper money.

This is one of the main reason for the false statement of :

Many people will say that Bitcoin is just like using gold or even paper money as a store of value.

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