/biz/ - Business & Finance

>>56181811
Ok here goes: imagine you want to hold precious metals such as gold for your retirement account. Now according to the IRS gold must be at least 99.5% pure in order to qualify as being investment worthy. Now sure you can get lower purity gold but its not as desirable as higher purity for this very reason. Now imagine you want to get the highest purity gold, im talking 99.999% pure gold. Still that means .001% of all the atoms in your gold bar are not gold. Now according to jmbullion truly 100% gold is impossible to achieve see: https://www.jmbullion.com/investing-guide/types-physical-metals/fine-gold/

So in reality there is always some amount of adulteration in your “gold” meaning you accept some amount of fake in your collection.

With bitcoin, you can achieve 100% purity or in this case 100% proof that your digital gold is in fact the real thing. That’s because every block added to the chain is another layer of proof that it is real otherwise this block wouldn’t be able to get added to the existing chain of blocks. So you see, the more blocks that get added the more sure you can be that you have 100% pure bitcoin. This is something that gold cannot achieve even with our modern metallurgy techniques which is why bitcoin is a superior store of value.