The long-standing debate over the merits of Bitcoin versus gold was a central topic at Binance Blockchain Week, particularly during a panel featuring Binance co-founder Changpeng “CZ” Zhao and gold advocate Peter Schiff. The discussion focused on the essential properties of money, such as divisibility, portability, and verifiability.
A key moment occurred when Zhao presented Schiff with a gold bar marked as “999.9 fine gold” and asked him to confirm its authenticity. When Schiff was unable to verify the bar on the spot, Zhao used the opportunity to highlight what he sees as a primary advantage of digital assets. He argued that while gold requires specialized assays and trust in third parties for verification, Bitcoin’s integrity can be instantly confirmed by anyone through its cryptographically secure public ledger. “I think gold will do well, but Bitcoin will do better,” Zhao commented, emphasizing the “trustless” nature of the cryptocurrency.
This focus on verifiability is a principle being leveraged by new projects in the crypto space. DeepSnitch AI, for instance, aims to provide traders with verifiable market data to identify whale movements, market sentiment, and potential risks. The project reports that its presale has raised over $672,000, with its token price increasing by 74% for early investors. Its core tools, SnitchFeed and SnitchScan, are reportedly operational internally, and a staking feature has already attracted over 16 million DSNT tokens.
The discussion takes place amid significant developments for major cryptocurrencies. Ethereum recently activated its “Fusaka” upgrade, introducing PeerDAS technology to significantly increase data throughput and reduce costs for Layer-2 networks. The network has also seen institutional interest, with BitMine adding $150 million in ETH to its corporate treasury.
Meanwhile, Bitcoin continues to attract corporate investment, reinforcing its status as a strategic reserve asset for some. A recent example includes a $34 million purchase of 363 BTC by Eric Trump’s “America Bitcoin.” Currently trading near its 50-day simple moving average, Bitcoin maintains a neutral Relative Strength Index (RSI), indicating a period of consolidation.
Source link
