Gold appears to be one of the oldest forms of legal tenders, Bitcoin, on the contrary, is just barely a decade old. The first ever gold coin to be struck dates back to 600 B.C in Lydia, Asia Minor. And ever since its invention, it has been universally accepted as the medium of payment through indirect exchange (barter) and also as a store of wealth in hoards. However, as every technology is expected to tacitly fade off, giving rise to a neoteric innovation. The Gold-money (commodity money) after an elongated period of dominance was ultimately replaced by paper-money also known as the fiat money. The fiat money ... (full story)