John McAfee Hits The Crypto Nail On The Head On Why Comparing Bitcoin To Gold Is Madness
John Mcafee's Bitcoin And Gold Debate
‘BTC vs Gold‘ arguments have always been interesting ones since the emergence of cryptocurrency, with many Bitcoin supporters making a case of the ‘King Coin'. In a recent thread of tweets, crypto enthusiast and antivirus software maker, John McAfee, outlined the differences between BTC and Gold.
Differences Between BTC And Gold
“The difference between gold and Bitcoin? Gold is a commodity, occupying space, with mass, temperature, shape. Bitcoin is an idea, made manifest through a series of numbers, with no true location or substance – a clever concept with infinite fluidity. To compare them is madness.”
This opinion of McAfee, is one which is shared by many cryptocurrency enthusiasts and BTC supporters, the recent ‘Drop gold' campaign shows this shared sentiment. The campaign focused on highlighting the advantages of Bitcoin over gold, and that BTC can also be a store of value like gold.
Bitcoin Is Purely Mathematical
He also stated that BTC is based purely on mathematics not only belief as some may think. He tweeted :
“Crypto is pure math. Coins created by hashing or other algorithms. Moved under control of math logic. They’re fractionalized, stored, retrieved, exchanged under control of formulas. Coins are electronic elements of a vast system controlled by math. This is not the Stock Market.”
Cryptocurrency Market Control
However, some people in the cryptocurrency community still were indifferent on the matter, as they still believe that the same people who control and influence the stock and forex market still control crypto too. To this John Mcafee said:
“Not even remotely true in the long run. If you do not understand the full depth of a system you can in no manner control it.”
Travis Kling, the CIO of Ikigai Asset Management, also recently joined John Mcafee in support of BTC in the ‘BTC vs Gold‘ debate when he said that Bitcoin looks good when placed side by side with gold.