After the recent meteoric rise (and subsequent crash) of Bitcoins we thought it would be useful to pull together an infographic comparing the 3000 year old form of money, with the up-start and very young (5 years) ‘new’ form of money.
Some have even gone so far as to describe Bitcoins as ‘digital gold’ – but is this really a fair comparison? Below we present a head-to-head match-up between the new digital currency and the oldest form of money on the planet.
As you’ll see Bitcoins are certainly an very interesting development in the creation of money, especially given their decentralised nature and the fact that no ‘central bank’ is in control of their development. In that sense they are a true ‘free-market’ phenomenon.
But in a few key areas gold still possesses crucial advantages over the digital upstart currency.
Submitted by GoldMadeSimple: