[RandomKid]

>> you can never protect its (gold's) value, since this will be diluted if someone else brings a lot of gold to market... Bitcoin prevents this by automatically adjusting difficulty.

It doesn't prevent it. If everyone decides to sell BTC now (including the big whales owning the major portion), it's price in USD will fall, too. How is this different?

[iopq]

If everyone decides to sell now the price will tank. But then people will decide that Bitcoin is now "cheap" and the price will increase.

[runeks]

What I meant was that newly mined gold can cause extremely large flows into the market (much more than all the whales dumping at once), which is what happened ~300 years ago. Gold had large geographic differences in the difficulty of mining it, which Bitcoin solves through adjusting difficulty.