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 --- A GOPHER-LIKE INTERFACE FOR HIVE BLOCKCHAIN ---

Bitcoin Mining and Gold's Atomic Strength... A Parallel

BY: @izzy | CREATED: Jan. 13, 2018, 11:52 p.m. | VOTES: 4 | PAYOUT: $0.05 | [ VOTE ]

[IMAGE: https://steemitimages.com/DQmfAFHoQ5FbNnCVY4WoyVdnr4BoF2V1mGRp1GukWfduGSk/image.png]

Why is Bitcoin a good store of value and is it getting stronger...

An interesting parallel can be made between gold and bitcoin. Gold is an element that is held together by the energy of the atomic bond...

For bitcoin, that energy is mining. The harder the mining becomes, the greater the hashing power of the network, the stronger bitcoin becomes. The atomic bond of bitcoin is the ever increasing mining difficulty and the energy that goes into making a bitcoin through mining.

This is an interesting view a friend of mine shared and thought I would share it with the Steem community. It makes sense and is yet another argument of why Bitcoin is a good store of value and how it gets more secure the more used and widespread it is.

TAGS: [ #bitcoin ] [ #gold ] [ #store ] [ #value ]

Replies

@izzy | Jan. 13, 2018, 11:54 p.m. | Votes: 0 | [ VOTE ]

Thanks for the upvote @jacobkaled!

@angrytattooer | Jan. 14, 2018, 12:11 a.m. | Votes: 1 | [ VOTE ]

Yeah I heard something similar, the more BitCoins that are mined the longer each coin takes to mine because more hashpower and more powerful mining hardware is needed. The use of electricity to mine it is pretty intense, I think this is why we're seeing a lot of coins/tokens coming out with PoS (Proof of Stake) rather than PoW (Proof of Work), it uses less resources.

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