Winklevoss: Bitcoin Is More Than Digital Gold, BTC is a Source of Truth with Boundless Possibilities

Co-founding Gemini juggernaut Cameron Winklevoss praises Bitcoin's endless possibilities, saying it is more than digital gold 2.0 and how it acts a source of truth.

Cameron Winklevoss, one of the famous Winklevoss’ twins, has recently talked about the potential of Bitcoin. According to him, BTC is far more than just digital gold. It is open-source software with almost limitless possibilities, in his opinion.

To him, being digital gold is just the beginning. The argument is that there is a lot more to go forward than just a simple analogy with gold because BTC is also scarce. Most people make this comparison at first, but there is a lot more than that.

With immutable decentralized transactions, anonymity, and security, Bitcoin was said to be “a shared single source of truth”. This is a term is used in the information systems area and it means something that can give a complete picture of the data. The technology that underlies BTC is the foundation of something huge and important, if we are to believe Cameron.

Another important aspect is that its integrity and scarcity are also important to protect Bitcoin from issues that gold faces today, such as forgery. This year, there were several reports of people scammed by forgeries of gold, around 1,000 kilograms of fake gold bars were found even with major banks such as JPMorgan Chase.

Bitcoin would never have the problem, as there is simply no way to forge it. This kind of security will be important in the coming days and it is one of the main reasons why people believe that Bitcoin is one of the biggest inventions in recent history.

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Gabriel Machadohttps://bitcoinexchangeguide.com/
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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