黄金 vs. 比特币：货币属性全面解析

黄金和比特币具有独特的货币属性，决定了它们随着时间和距离的价值传输的适应性。比特币以其绝对稀缺性、抗贬值性和无与伦比的便携性而脱颖而出。其真实性可以立即验证，交易在几分钟内完成，费用极低。然而，黄金在流动性、隐私性和广泛认可度方面保持着优势。了解这些属性有助于投资者评估这两种资产在促进价值转移方面的优势和局限性。

Gold and Bitcoin: A Comprehensive Comparison of Monetary Attributes

黄金与比特币：货币属性综合比较

Introduction

介绍

In the realm of monetary assets, both gold and Bitcoin hold significant value. However, their monetary attributes differ substantially, potentially influencing their suitability for preserving and transferring value over time and space. To determine which asset possesses the more favorable monetary characteristics, an in-depth analysis of ten key attributes is conducted below.

在货币资产领域，黄金和比特币都具有重要价值。然而，它们的货币属性差异很大，可能会影响它们随着时间和空间保存和转移价值的适合性。为了确定哪种资产具有更有利的货币特征，下面对十个关键属性进行深入分析。

Monetary Attribute #1: Scarcity

货币属性#1：稀缺性

Gold: The World Gold Council estimates the global mined gold supply at 6.8 billion ounces, with annual production averaging around 118 million ounces. However, the future quantity of gold to be discovered and mined remains unknown.

黄金：世界黄金协会估计全球矿产黄金供应量为 68 亿盎司，年产量平均约为 1.18 亿盎司。然而，未来发现和开采的黄金数量仍然未知。

Bitcoin: By contrast, Bitcoin's supply is finite and known. Currently, there are approximately 19.6 million Bitcoins in circulation, with the total supply capped at 21 million. The remaining 1.4 million BTC will be gradually released at a predetermined, decreasing rate until the final Bitcoin is mined in 2140.

比特币：相比之下，比特币的供应是有限且已知的。目前，流通中的比特币数量约为1960万枚，总供应量上限为2100万枚。剩余的 140 万个 BTC 将以预定的递减速度逐步释放，直到 2140 年最终的比特币被开采出来。

Verdict: Bitcoin wins. Its absolute scarcity ensures that the only way to respond to increased demand is through price appreciation, unlike gold and other commodities whose supply can be expanded.

结论：比特币获胜。其绝对稀缺性确保了应对需求增长的唯一方法是通过价格升值，这与黄金和其他可以扩大供应的商品不同。

Monetary Attribute #2: Hardness

货币属性#2：硬度

Gold: Hardness, in this context, does not refer to physical hardness but to resistance to debasement. Gold's high hardness stems from its limited annual production relative to its existing supply.

金：在此上下文中，硬度不是指物理硬度，而是指抵抗贬值的能力。黄金的高硬度源于其年产量相对于现有供应量有限。

Bitcoin: Bitcoin has a remarkable hardness attribute. Its supply growth is cut in half every four years ("halving"), causing its hardness to double. Consequently, Bitcoin's hardness will soon surpass that of gold.

比特币：比特币具有显着的硬度属性。它的供应增长每四年减少一半（“减半”），导致其硬度加倍。因此，比特币的硬度很快就会超过黄金。

Verdict: Bitcoin wins. Its unique supply issuance mechanism and increasing hardness make it the hardest monetary asset in history.

结论：比特币获胜。其独特的供应量发行机制和不断增加的硬度使其成为史上最难的货币资产。

Monetary Attribute #3: Liquidity

货币属性#3：流动性

Gold: Gold has a substantial global pool of liquidity, with a market capitalization of approximately $14.6 trillion.

黄金：黄金拥有庞大的全球流动性池，市值约为14.6万亿美元。

Bitcoin: While Bitcoin's liquidity pool is smaller, it is rapidly growing. As its value appreciates, Bitcoin's liquidity is expected to approach that of gold.

比特币：虽然比特币的流动性池较小，但它正在快速增长。随着其价值的升值，比特币的流动性预计将接近黄金。

Verdict: Gold wins currently. However, Bitcoin's liquidity is increasing and may erode gold's advantage in the future.

结论：目前金牌获胜。然而，比特币的流动性正在增加，未来可能会削弱黄金的优势。

Monetary Attribute #4: Portability

货币属性#4：可移植性

Gold: Physical gold is challenging to transport due to its weight and value. $1 billion worth of gold weighs over 31,500 pounds and requires extensive logistics, security, and insurance.

黄金：实物黄金因其重量和价值而难以运输。价值 10 亿美元的黄金重达 31,500 磅，需要大量的物流、安全和保险。

Bitcoin: Bitcoin, on the other hand, is highly portable. $1 billion worth of Bitcoin can be transferred for less than $10 in fees and within minutes. Its digital nature eliminates the risks and complexities associated with physical transportation.

比特币：另一方面，比特币具有高度的便携性。价值 10 亿美元的比特币可以在几分钟内以不到 10 美元的费用转移。其数字化特性消除了与物理运输相关的风险和复杂性。

Verdict: Bitcoin wins. Its superior portability and convenience make it vastly more practical for cross-border transfers.

结论：比特币获胜。其卓越的便携性和便利性使其对于跨境转账来说更加实用。

Monetary Attribute #5: Verifiability

货币属性#5：可验证性

Gold: Verifying the authenticity of gold is time-consuming, costly, and often involves third-party auditors.

黄金：验证黄金的真实性非常耗时、成本高昂，而且通常需要第三方审核员的参与。

Bitcoin: Bitcoin transactions are mathematically verifiable, instantly and cost-effectively. Its public blockchain ensures that all transactions are permanently recorded and easily auditable, providing a level of certainty that gold lacks.

比特币：比特币交易在数学上是可验证的、即时且具有成本效益的。其公共区块链确保所有交易都被永久记录并易于审计，提供了黄金所缺乏的确定性。

Verdict: Bitcoin wins. Its immutable blockchain and instant verifiability offer an unprecedented level of security and transparency.

结论：比特币获胜。其不可变的区块链和即时可验证性提供了前所未有的安全性和透明度。

Monetary Attribute #6: Fungibility and Privacy

货币属性#6：可替代性和隐私

Gold: Physical gold is fungible, meaning that all units are considered interchangeable. However, transactions on Bitcoin's public blockchain are recorded, potentially revealing transaction history.

黄金：实物黄金是可互换的，这意味着所有单位都被认为是可以互换的。然而，比特币公共区块链上的交易会被记录，这可能会泄露交易历史。

Bitcoin: While Bitcoin's blockchain is publicly accessible, privacy tools allow users to enhance fungibility and hide transactions. However, physical gold remains anonymous and untraceable.

比特币：虽然比特币的区块链是可公开访问的，但隐私工具允许用户增强可替代性并隐藏交易。然而，实物黄金仍然是匿名且无法追踪的。

Verdict: Gold wins. Its inherent fungibility and anonymity give it an advantage for users seeking privacy.

结论：金牌获胜。其固有的可替代性和匿名性为其寻求隐私的用户提供了优势。

Monetary Attribute #7: Durability

货币属性#7：耐用性

Gold: Gold is renowned for its durability and exceptional resistance to corrosion and decay. Even gold produced thousands of years ago still exists today.

黄金：黄金以其耐用性和卓越的抗腐蚀能力而闻名。即使是几千年前生产的黄金今天仍然存在。

Bitcoin: Although Bitcoin's digital nature makes it immune to physical damage, its durability depends on the stability of its network and the integrity of the blockchain.

比特币：虽然比特币的数字性质使其免受物理损坏，但其耐用性取决于其网络的稳定性和区块链的完整性。

Verdict: Gold wins. Its physical durability surpasses that of Bitcoin, which is subject to potential technological disruptions.

结论：金牌获胜。它的物理耐用性超过了比特币，而比特币可能会受到潜在的技术干扰。

Monetary Attribute #8: Divisibility

货币属性#8：可分割性

Gold: Physical gold is challenging to divide into smaller units, making it impractical for small transactions.

黄金：实物黄金很难分割成更小的单位，这使得它对于小额交易来说不切实际。

Bitcoin: Bitcoins can be divided into 100,000,000 units called satoshis, allowing for transactions of any size, from fractions of a penny to billions.

比特币：比特币可以分为 100,000,000 个单位，称为“聪”，允许进行任何规模的交易，从几分之一到数十亿。

Verdict: Bitcoin wins. Its extreme divisibility makes it suitable for a wider range of transaction values.

结论：比特币获胜。其极端的可分性使其适合更广泛的交易价值。

Monetary Attribute #9: Scalability

货币属性#9：可扩展性

Gold: Gold's scalability is limited when used as a medium of exchange at scale, requiring third-party intermediaries.

黄金：当大规模用作交换媒介时，黄金的可扩展性受到限制，需要第三方中介机构。

Bitcoin: Bitcoin's base layer can process a limited number of transactions per day. However, the Lightning Network, a second-layer protocol built on Bitcoin, is designed to handle an unlimited number of transactions. This scalability solution enables Bitcoin to potentially handle global consumer transactions without compromising its decentralization.

比特币：比特币的基础层每天可以处理有限数量的交易。然而，闪电网络是基于比特币构建的第二层协议，旨在处理无限数量的交易。这种可扩展性解决方案使比特币能够在不影响其去中心化的情况下处理全球消费者交易。

Verdict: Bitcoin wins. The Lightning Network's potential to scale Bitcoin's transaction capacity makes it well-suited for widespread adoption.

结论：比特币获胜。闪电网络具有扩展比特币交易容量的潜力，使其非常适合广泛采用。

Monetary Attribute #10: Recognition

货币属性#10：认可

Gold: Gold has a long-established history as money, with widespread recognition and acceptance globally.

黄金：黄金作为货币有着悠久的历史，在全球范围内得到广泛认可和接受。

Bitcoin: Bitcoin is a relatively new monetary asset, with recognition and acceptance still evolving.

比特币：比特币是一种相对较新的货币资产，其认知和接受度仍在不断发展。

Verdict: Gold wins currently. Bitcoin's growing adoption and monetization are expected to improve its recognition in the future.

结论：目前金牌获胜。比特币的日益普及和货币化预计将在未来提高其认可度。

Conclusion

结论

The analysis of these ten monetary attributes reveals that Bitcoin exhibits superior characteristics in several key areas, including scarcity, hardness, portability, verifiability, divisibility, scalability, and the potential to enhance fungibility and privacy. While gold retains advantages such as durability, liquidity, recognition, and fungibility for certain users, Bitcoin's unique monetary properties and its capacity for technological innovation position it as a formidable contender in the realm of monetary assets. As both gold and Bitcoin continue to evolve, the comparison between their monetary attributes will remain dynamic and subject to ongoing debate.

对这十大货币属性的分析表明，比特币在几个关键领域表现出优越的特性，包括稀缺性、硬度、可移植性、可验证性、可分割性、可扩展性以及增强可替代性和隐私性的潜力。虽然黄金对于某些用户来说保留了耐用性、流动性、认可度和可互换性等优势，但比特币独特的货币属性及其技术创新能力使其成为货币资产领域的强大竞争者。随着黄金和比特币的不断发展，它们的货币属性之间的比较将保持动态，并受到持续争论。