Bitcoin is a better reserve currency than gold
The United States dollar has been the global reserve currency since 1944 when it was chosen at Bretton Woods.
When we really think about a reserve currency, to be fair to all nations and currencies the reserve currency should not be any of the international currencies, like USD orGBP.
Bitcoin can fulfill this role as it is not owned by any corporation, country or institute. Bitcoin is owned by the people, and managed by a blockchain.
Should you be interested to learn how the USD was chosen as the worlds reserve currency, you can read the following article: How the USD became the worlds reserve currency
Bitcoin has all the properties and features of gold:
These are summarised very nicely by Sudhir Khatwani in his post What Determines The Value Of Bitcoin?
• Fungible – One unit is equivalent to another.
• Divisible – Can be divided into smaller units of value.
• Acceptable – It is widely accepted as a medium of exchange
• Limited in supply – Supply is capped and constant
• Uniform – All versions of the same denomination have the same value.
• Portable – Can be carried along and exchanged.
• Durable – Can be used a number of times without degrading.
People are corrupt and greedy
Money and greed are powerful forces that become corrupting influences on people and their environment. In the event where an international currency are used as a reserve currency, the chosen currency will always have a leading edge over any other currency in the world.
Bitcoin can level the playing field!
When Bitcoin is used as the reserve currency it will be transparent and fair to all nations and currencies around the world.
Here is a recent article from Max Keiser: Bitcoin Will Say Goodbye to USD, Turning into World’s Next Reserve Currency
Happy Steeming!
Bitcoin is some kinda energy that can't be seen nor touch and this makes it unique and powerful.
Gold on the other hand seems like just a physical thing.
It maybe valuable but less people are using them. We can't turn gold into pieces and distribute tiny small bits of gold to huge people unless we convert gold to cash.
Hi @ronel, I fully agree with you. At the end of the day Bitcoin will be a better solution to use as a reserve currency due t its characteristics.
Oh yeah.
And it takes years and decades for humanity to fully understand bitcoin.
Yeah, it is going to take some time for everybody to understand and adopt the platform, but I do believe it is here to stay.
Bitcoin will stay and cash will slowly fade away in my own observation.
Great information. Adoption is still key. But why not other cryptocurrency such as $dgb or $Dash etc.
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Hi @mrshev, in my opinion, I believe that when governments decide to use a crypto currency as a reserve currency, a new dedicated crypto currency will most probably be created for the sole reason of using it as a reserve currency.
If I say something ... then buy both, both are very good.
This what I do ... if I have more free money. ( Gold and BTC )
That is indeed a very good thing to do @foxkoit, thanks for your comment ;)
You are welcome :)
If I had enough money, I would invest more in BTC and Silver (before Gold)... there are some nice rumors about fact that silver is undervalued a lot... ;)
That is true. I have seen many articles in relation to silver being undervalued. Thank you for your comment. I haven't been active on Steemit for quite some time and I really missed it.