Conclusion: BTC is the 'ultimate form' that gold failed to become.
Tokenized gold is the digital upgrade of physical assets; Bitcoin is a complete **'rewrite of the logic of value storage.'**
It is the first time that value storage no longer requires trust in anyone, integrating free finance, global settlement, and decentralized scarcity.
If you had to choose one, BTC is the digital gold that is closest to the ultimate form.
📢 Welcome to share your position in the comments! Who do you think is the ultimate store of value?
💥 The battle of digital gold: Stop talking about 'tokenized gold'! BTC is the ultimate store of value!
As the discussion about value storage during Blockchain Week (BBW) heats up, we see the debate between 'Bitcoin (BTC)' and 'tokenized gold' becoming increasingly intense. My position is clear: BTC is the first 'trustless' ultimate store of value in human history.
1. Scarcity: Is gold naturally scarce? BTC is the 'verifiable scarcity'!
Tokenized gold says: Gold is naturally scarce; Bitcoin is merely a man-made rule?
BTC countermeasure: The source of scarcity is not important; what matters is whether it can be verified!
• Gold: You have to trust the custodian's audit report.
• BTC: All nodes globally can independently verify the limit of 21 million. No need to trust anyone.
Direct insight: Natural scarcity ≠ verifiable scarcity. In the digital age, **'verifiable scarcity'** is the strongest value storage basis.
Foundation.
2. Censorship resistance: Is the deposit channel centralized? Don't confuse the 'mode of transportation' with the 'nature of the vehicle'!
Tokenized gold says: Bitcoin's entry and exit points are mostly in centralized exchanges, which do not count as true censorship resistance?
BTC countermeasure: This confuses **'deposit channels'** with **'nature of the asset'**.
• Tokenized gold: Issuance, redemption, and withdrawal all require permission, review, and compliance with judicial orders. It is always dependent on the custodian.
• BTC: Its essence is P2P, self-custody, and permissionless network. Even if you deposit through a centralized exchange, the nature of the asset remains uncontrollable by any single entity.
3. Consensus: Historical length vs. adoption speed?
Tokenized gold says: Gold has a 3,000-year history, while Bitcoin has only 16 years, lacking civilization-level consensus?
BTC countermeasure: Consensus is not built by **'time'**, but by **'speed'**!
• Gold: Represents stability but grows slowly.
• BTC: In just 16 years, it has reached over 100 million global users and has been widely adopted by TradFi giants like BlackRock.
4. Self-custody: Is it unfeasible because private keys are hard to understand? This is a UX issue, not a fundamental issue!
Tokenized gold says: The average person does not understand private keys, so self-custody of Bitcoin is not feasible?
BTC countermeasure: This is a user experience (UX) issue, not an asset attribute issue.
• Tokenized gold: Essentially always centralized custody. This is its 'fate.'
• BTC: Technologies like MPC and smart contract wallets are rapidly addressing the 'usability' issue.
5. Risk: Technical risk vs. custody risk? Which risk is more practical?
Tokenized gold says: Is Bitcoin facing protocol, quantum, and miner risks?
BTC countermeasure: The custody and legal risks of gold are more certain and common than the technical risks of Bitcoin.
• BTC technical risk: Mostly 'low probability, high level' theoretical events.
• Gold custody risk: This is a 'high probability, normalized' real issue: custodian bankruptcy, audit fraud, legal freezes.