Thank you for catching that. I wanted to work in a section on gold, but I couldn't figure out a good place to put it. This is obviously where I should have.
What is hard for me to grasp is that Gold is Gold. There are no other forms. You can get silver, copper, zinc, and others, but they are different elements and have their own prices.
To me Bitcoin, Litecoin, and others are all crytocurrencies. Yes they have different properties too, but someone could create a "100 coin" and only have 100 coins available total. Would this mean each one should be move valuable than a bitcoin because there are far less of them?
This was the point I was trying to make, yet again I admit I do not understand so please help. Hope this clarifies my argument.
Price is not in a 1:1 relationship with quantity. Supply and demand is the key here. You seem to be neglecting demand and why there's plenty of exponential demand growing. Honestly, you could get inundated with info here with many different assertions as to why Bitcoin has a different fiat price than other coins right now. I suggest that you read up on what Bitcoin IS and what is facilitates, and that it's the Big Daddy of the cryptocurrency world, with hundreds of copycats, and plenty of differentiators to add value and functionality where Bitcoin lacks. Good luck!
Thank you. I admit I have more learning to do and that bitcoin is the big daddy. But who is to say that Ethereum, Litecoin, Ripple, or something to be released will not surpass it? If this happened, wouldn't this halt the exponential demand for bitcoin?
Yes, of course. First to market is good, but it's not invincible. Other coins serve similar or vastly different purposes. Anything can grow to overtake anything if the economy adopts it.