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Bitcoin vs. Gold: Which is Best? The Ultimate Showdown!!Each gold-backed cryptocurrency defines one of its tokens as having an equal worth of a specific size of gold, be it grams or Troy ounces. This. If Bitcoin is sometimes called �digital gold�, Ethereum would then be the �digital silver�! What are the main disadvantages of crypto-currencies? Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight.