Gold and Bitcoin have been used as monies and safe havens. It is a place to park cash or riches whenever are a level of uncertainty in the environment. It needs to be something that everyone can believe in if authorities, the institutions or players in the company game are not available. The wealth needs to be kept secure. If it is a physical asset, there is theft by robbery. There is damage by flood, fire or other components. There is in not having the ability to decide whether the asset is yours or not the problem. There is access risk in although the asset may be owned by you but might not have the ability to get your hands on it. The asset may be owned by you but may be unable to use it because of some restriction.
One aspect for both bitcoin and gold is that there is not any liability. National currencies are issued with interest attached. The monies because of being leveraged can also be delisted or have their worth changed, devalued or employed for other currencies. With Bitcoin, there would need to be consensus among the players for this to occur. Gold is the cash of nature and since it had been found, there is not any one in control of how it works. Gold has the history of being used as cash for thousands of years in society and culture. Bitcoin does not have this reputation. The World Wide Web, technology and electricity grid are necessary for Bitcoin to operate whereas gold is. On what it is being traded for the value of gold is dependent. The value of Bitcoin is very similar to purchasing a great or a stock: It depends upon what seller and the buyer agreesits worth.
Additionally, there are technology problems like who controls the World Wide Web, the electrical energy involved in mining Bitcoins orother issues in infrastructure the electric grid, the atomic grid, the net servers, the telecom companies. Regulatory risks may run the gamut from limiting who earn bitcoin. Gold does not have these shortcomings. It cannot get destroyed once it is mined. It is not reliant on infrastructure, technology or some other institution to ensure it is valid. Since it is portable and small, it can be taken anywhere and still be useful without any mechanism. Many times can be changed and gold will be valuable.Gold is a secure that is classic Haven because it does not require institutions to exist, is quite tough to forge, cannot be ruined by the elements and does not have issues of accessibility or restrictions. Limitation and theft may be variables but fares that are gold better than currencies or currencies at this point in time.