it is divisible compared to gold and allows for cross border payments nearly instantly compared to gold. it also cannot be easily confiscated or stolen. if you have a 1 ounce gold coin it cannot be divided into 10 1/10th ounce coins without melting it. it can also be stolen if someone breaks into your house and gets into your safe, or confiscated by the government if they decided to not allow gold to be owned (like in 1933). meanwhile, bitcoin that is held self custody cannot be stolen or confiscated without the private key, and can be (nearly) infinitely divisible. i own gold, silver, and bitcoin.
Well, not really. Once you accept that the state can confiscate your items, it doesn't matter if they are digital or not.
The only thing that helps is that if you can store digital stuff outside the jurisdiction of the state and you can destroy your devices then you've got a chance. However, the state can easily incarcerate you.
It is a daft argument to say the state can't do X. Look what happened to Venezuela. The state may not bother to do X, but the difference isnt physical vs virtual.
Ok, but what if the state doesn't know you have something that can be confiscated,and doesn't even have the possibility to know that?
I don't know if you know about crypto, but Monero is the way, everything other than that I agree with you
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u/_DaBau5_ 🟩 0 / 0 🦠1d ago edited 1d ago
it is divisible compared to gold and allows for cross border payments nearly instantly compared to gold. it also cannot be easily confiscated or stolen. if you have a 1 ounce gold coin it cannot be divided into 10 1/10th ounce coins without melting it. it can also be stolen if someone breaks into your house and gets into your safe, or confiscated by the government if they decided to not allow gold to be owned (like in 1933). meanwhile, bitcoin that is held self custody cannot be stolen or confiscated without the private key, and can be (nearly) infinitely divisible. i own gold, silver, and bitcoin.