The report stated that Bitcoin has these advantages by not relying on physical supply chains, according to Queen Telegraph.
While the authors of the report confirm that Bitcoin and gold are essentially the same as globally available Rare Units, Queen Biz adds that the last supply of gold pressure, caused by the effects of a pandemic virus Corona, has highlighted the global superb access to bitcoin.
Bitcoin offers advantages over gold
In the report published yesterday, Queen Biz reported that the Corona Virus pandemic highlighted the benefits Bitcoin offers on gold, confirming that Bitcoin does not rely on chains. Fragile physical supply is truly globally accessible.
Coin Base also emphasizes the recent price gaps exhibited by gold markets around the world, as turmoil in supply chains leads to varying levels of scarcity across different markets.
where the report indicates an approximately 4.5% difference in gold prices in New York and London. This difference was caused by a shortage of gold bars used in the settlement of Comex's futures contract.
The report also indicates that Perth Mint in Western Australia has recently increased production of gold bars by the weight of kilograms to meet the shortage of supplies - with shipping of at least 11,000 bars to New York.
Corona pandemic has little impact on mining
Coin Base notes that despite gold refineries, miners and supply chains, the basic Bitcoin protocol continues to operate as designed - with the Bitcoin Hash rate approaching Its highest levels in recent weeks.
Moreover, the report confirms that Bitcoin will be scarce like gold, however, it possesses the distinctive quality of teleportability.
Queen Biz said: The new bitcoin supply rate is around 3.6% per annum and will soon drop to around 1.7% on May 12, which puts it on Equal with historical gold scarcity. And since gold miners and oil refineries have stopped working, the global ecosystem seems to ...
