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● Gold’s 20-Month Agony, Bitcoin’s 30-Second Thrill

Valuation, Verification, and the Blockchain Revolution of Bitcoin and Gold

The Value and Verification Limits of Gold Held by the United States

• Fort Knox, the largest gold reserve in the U.S., holds approximately 4,500 tons of gold.
• This accounts for about half of the total gold reserves of the United States.
• Importantly, external verification of the actual existence of this gold has been impossible for over 40-50 years.
• To transparently confirm the physical existence of the gold, it would require about 20 government officials using advanced equipment for an audit lasting 18-20 months.
• This involves significant time, cost, and manpower.
• Therefore, to highly value the actual value of gold, 'physical verification' must precede.
• Gold inherently possesses a structural 'uncertainty regarding physical possession confirmation.'
• Despite being a traditional asset spanning thousands of years, it lags significantly in verification and trust issues.

Transparency and Verification Speed of Blockchain and Bitcoin

• Bitcoin operates based on a fully open electronic ledger (blockchain).
• The 'worldwide balance, all transaction history, and fund flows' can be verified within 30 seconds using any device like a smartphone or PC.
• Transactions of any large investor (whale) can be tracked almost in real-time.
• The characteristics of 'real-time, transparency, and verifiability by anyone' are distinctly different from gold.
• Bitcoin can gain trust immediately without the need for separate massive manpower or equipment.
• Therefore, its superiority as a 'trust asset' is increasingly highlighted.

A Shift in Perspective: From the Age of Gold to the Age of Blockchain

• The traditional financial and asset system fundamentally relies on the limitations of trust and verification.
• Despite investing vast resources and time, uncertainty remains.
• On the other hand, the emergence of blockchain dramatically reduces verification costs and time.
• This marks a clear break from the era when gold was the 'absolute safe asset and standard of assets.'
• Passing through an era of subtle distrust in physical assets and a strong question of 'What are they doing?',
• The latest cryptocurrencies and digital assets present a paradigm of 'immediate trust, immediate verification.'

Key Implications: The Fundamental Differences Between Gold and Bitcoin

• Gold: Physical verification impossible, requires cost and time, human management and supervision essential.
• Blockchain/Bitcoin: Immediate verification, system-based trust, global immediacy.
• The opacity and inefficiency of the traditional gold market highlight Bitcoin's value proposition.
• The method of asset trust is likely to rapidly shift from existing physical dominance to information dominance and transparency.

Additional Details and Timeline Summary

1. Past: The Era When Gold Was the Absolute Safe Asset

     – Countries and central banks maintained currency value by holding physical gold.

     – Physical possession verification was virtually impossible.

2. Recent Decades: Highlighting the Limitations of Gold's Value Verification

     – Audit cycles of reserves are too long, with almost no external oversight.

     – Open information sharing is impossible.

3. Present: The Rapid Rise of Bitcoin/Blockchain

     – Anyone can immediately grasp the scale and flow of global assets.

     – Full-scale entry into an era of technology-based verification rather than government/institutional verification.

4. Future Direction: The Standards of Trust and Verification Are Expected to Be Completely Reorganized
     – Global economy where information asymmetry is disappearing

     – Physical assets such as gold are likely to lag behind in the financial paradigm relatively

Core Keywords

– Bitcoin, Blockchain, Gold, Trust Asset, Asset Verification

< Summary >

Unlike gold, Bitcoin enables immediate and transparent verification, fundamentally surpassing the trust and verification limitations of traditional asset markets. The economic paradigm is shifting from physical-based to information and technology-based trust.

[Related Articles…]

• The impact of the Bitcoin surge on traditional asset markets
• Reliability and financial innovation of blockchain technology

*YouTube Source: [이효석아카데미]

– 금 감사 20개월, 비트코인은 30초면 충분 #비트코인 #금