Since we live in a digital age, is it not time that we remove ourselves from the physical resources? And if so, how much Bitcoin is in need of countries to replace the value of the physical Gold?
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How much Bitcoin need countries if the Gold you want to replace?
We spend the largest part of our lives online. We carry out online transactions, organize events, and maintain our social contacts via digital platforms.
With Bitcoin we have now, regardless of volatility, a more efficient store of Value in contrast to the heavy gold bars. Back to the future? Be States hoarding in the future, in addition to the gold reserves and decentralised scarce assets such as Bitcoin?
The Twitter User rhythm traders has highlighted this in his Tweet and shown need how many Bitcoin the respective States, with their current gold holdings to catch up.
USA: 913.388 BTC
Germany: 378.416 BTC
Russia: 232.033 BTC
China: 206.923 BTC
Japan: 85.932 BTC
UK: 34.847 BTC
This is how much bitcoin each country will need to replace their current gold holdings:
?? USA: 913,388 BTC
?? Germany: 378,416 BTC
?? Russia: 232,033 BTC
?? China: 206,923 BTC
?? Japan: 85,932 BTC
?? UK: 34,847 BTC
We’re in the digital age, digital gold is inevitable.
— Rhythm (@Rhythm Traders) 22. September 2019
We are in the digital age, digital Gold is inevitable
Although this Argument is quite interesting, it is still unlikely that States will separate from the physical Gold. However, in addition to Gold, it would be quite possible that you would be able to absorb Bitcoin into the Repertoire, provided that the extreme volatility is due to the increasing demand.
Bitcoin recorded in the last few months, relatively speaking, a certain degree of stability. According to the Gold-veteran Peter Schiff Bitcoin, the Safe-Haven has not passed the Test, however, recently “again”.
He was referring to at the end of last month in the global stock markets fell and investors increasingly invested in safe assets. Swiss franc, Japanese Yen and Gold rose, while Bitcoin has fallen to 8 percent.
Bitcoin is moving in the right direction, to be used as a digital Gold perceived. Of absolute scarcity, to the fact that you can move BTC in a few minutes around the world, BTC is superior in many ways.
But States still have difficulties to understand technology and to keep up with her, and Users are still concerned how you can keep your Bitcoin deposits safe. The infrastructure for the digital Asset needs to be improved. Regulated platforms such as Bakkt make this step in the future is possible, so that institutions can enter the crypto market.
Text evidence: bitcoinis, CHRISTINA COMBEN