Bitcoin Forum

The only person I have ever met who invested in physical gold (coins) on an ongoing basis was a survivalist who basically kept them under his bed with the aim of bartering them when the system broke down.

It is possible to invest in gold funds etc., but many people like to physically possess it.

Could Bitcoin overtake gold on this basis i.e. an asset you alone control without having to keep it under your bed?

Actually, invest in gold are really worth to do, its just need a long time just for a profit.
Meanwhile here, bitcoin become a celeb just because its bubble, and people prefer a more faster way of getting a profit right ?

Bitcoin couldn't overtake the gold. It never be. Actually still too much worst case of bitcoin that could be happen in future

Easily could and my view is we are heading towards this everyday. Bitcoin needs to have roughly a 400k market cap to have the same market cap as gold and many in the industry think that is achievable long term. Let say this happens and in 10 years bitcoin is worth more than that then at that point people may tuck some under their beds for "safe haven". However, I would also argue that Bitcoin doesn't need to reach 400k for people to believe in it as a safe haven as little as $25 dollars may be your safe haven if you are in a country like Venezuela you will likely have a paper wallet or just remember your 12 word seed in your brain.

In real world BTC isn't able to compete with gold, but in digital world BTC constantly overtakes gold.
Today gold bar of 1 Kg costs about 44000$, and I'm pretty sure that 1 BTC will reach this peak in less than two years.

Bitcoin can be compared to the digital asset which real purpose is still not recognized by the many people. It has brought new technology that is utterly neglected because the investors are looking at this supreme coin only as a mean for their desired profit. Right now the fluctuations that are destroying the main purpose of the Bitcoin and also the high transactions are ruining the reputation in slight moves.

Gold, on the other hand, is a reputable currency which is tax-free. It has made the standards as a physical currency Although it is traded online the physical asset of gold cannot be taken or destroyed in the process of some harder damage that could delete the online cryptos.

There are no rules in the market world and the Bitcoin can achieve the value (in the different measurement and not in the pounds) that the gold has now. Gold is safer for your investment but the Bitcoin is good as the asset which can pump your invested bankroll and we can call that an antecedence right now.

nope. in a truly survivalist situation the internet will be toast. no one will want anything virtual.

and the same goes for gold. gold's valuation is an abstraction possible due to a functioning society so all these survivalists are morons for holding it. it has no intrinsic value. there won't be any industry using it. who the hell wants jewellery if you can't feed yourself?

the only currency anyone will accept is food, mediciine or weapons and ammuntion - the stuff you actually need to stay alive.

think about new generations !

having gold is old school ! this will completely change in 10-20 years

not thats not true, there could be local urban chaos, in some regions, while others stay intace as does the internet,

a survivalist could then indeed have more benefits from bitcoin instead of carrying gold arround

someone calling himself european central banks shouldnt be taken serious

regards

The advantage of bitcoin is that it is independent of any nation meaning that it is less likely to become worthless. However if you look at the value of bitcoins on a chart you can see that it is much less stable that traditional currencies meaning that it can swing to have substantially more or less value depending on the day. Because of this I would consider bitcoin to be more like a stock than a currency because buying it is kind of like playing the stock market.

Another issue with bitcoin is just like any other currency it is a fiat currency meaning that it is not backed by anything of value. the difference being that with national currencies the country is backing the value of the currency. with bitcoin there is no nation that backs the bitcoin meaning that the only thing that makes bitcoin have value is that people say it does. This means that IMO this is a risky currency to have any large amount of money invested in.

I don't subscribe to any of this myself, I'm just making a point that the people who actually believe this stuff might affect the status of Bitcoin as a store of value.

I reckon that for every person who keeps gold under their bed, there will eventually be someone who buys bitcoin for the same spurious / paranoid reasons.

Which is ultimately good in the long term for Bitcoin.

there are degrees of survivalism. the metal coin hoarders seem to be expecting a return to sub medievalism. i don't think people like that will ever subscribe to something like bitcoin.

then there are people who want to insure themselves against their currency collapsing but life remaining pretty much the same once it's all been ironed out. there are people using bitcoin for things like that right now in places like south america.

I think investing in bitcoin is more profitable than gold. Though gold price has also proven to continuously grow time to time, but bitcoin grows even more. If you plan to hold it for a long time, bitcoin will give you a lot more profit than gold.

Sure there are degrees, and you're right that the people building bunkers in their garden probably wouldn't buy bitcoin.

I still think there's another level of conspiracy-minded people who will see Bitcoin as the investment they never knew they needed... until now.

And anyone with a vested interest in Bitcoin should hope for this, as these long term hodling outliers may be the ones who substantiate Bitcoin's value.

a survivalist investing in gold..
HA

survivalists currency will be bullets

as long as computers are still around, fiat will be around
no computers.. no fiat..
so if fiat goes its likely access to bitcoin and 'gold funds'(online trading) will be gone too

bullets are the survivalists currency

I think not in a true survival situation the internet no longer exist nobody can use internet if there is an doomsday scenario. No one wants to own virtual asset and what's the point of jewellery if you will starve to death. The only resources or assets that people will accept is food, medicine and weapons.
Will bitcoin overtake gold ? I dont know but its possible with it's insane price leaps it could.

Digital currencies are unpredictable specially bitcoin that we really dont know if what will happen in the future in talking of value but for now we could consider Bitcoin to be part of our assets that we could keep and give it to our children as an inheritance for their future but still it would be better that if you earn some bitcoins you should use it to buy physical things that can be inherit in the future like gold, house, land and other properties in which by this way it will valued not just as an asset but it will remind you that it was the bitcoin buy these things.

Everyone knows gold is a great place for an investment. Because all investors can save or use gold in daily life. But the drawback, investment in gold is perfect for long-term investment, because the price tends to be stable. Investing in bitcoin is very risky because no one guarantees if we loss our money, but the volatile price can be an a chance by someone to get rich in a few days. Therefore, it's difficult for bitcoin to overtake gold as an investment place, because the wider community would prefer physical investment in comparison with bitcoin that doesn't look it's value.

I think bitcoin is even better than gold, because bitcoin can be taken anywhere and also do not bother to save under the bed, and its value is also more expensive than gold.

The answer is No.

The amount of places you can spend bitcoin shrinks by the week, because of scaling issues, so it's worse than gold.

However, there is a chance that an alt might take the place of bitcoin and be the substitute for gold.

For example, this week Stripe (payment processors) announced that they were dropping bitcoin because it was unusable. But at the same time they announced they were thinking of enabling LTC, BCH, ETH and stellar lumens in bitcoin's place. The more people that do this the more likely it will be that bitcoin gets taken over by an alt.

In my opinion, bitcoin is very risky if it is stored as an asset because the bitcoin price is not controlled and can not be accounted for if we suffer losses, bitcoin is more suitable for trading and take advantage in the short term.

Many people say the same thing as you before, but now the people who just stored bitcoin in their wallet are millioners. Please see reference https://bitcointalk.org/index.php?topic=2824748.0 (https://bitcointalk.org/index.php?topic=2824748.0)
Well, anyways, even if I didn't send you reference, I know that many people here can testify that.

Bitcoin and Gold have their own respective perks. If your looking for a short term investment that appreciates fast, I recommemd to go for BTC, just be very vigilant in reading news and infos on whats happenning in the system. If your into long term investment with a relative return of funds, I suggest stick to gold or other sort of physical investments.

investing in gold can earn more profits for a long run, and it is surly can because it is a physical assets that can kept with you (under your bed) while investing in bitcoin is vise versa. bitcoin cannot overtake gold for long, not just in the value but just for all reason, bitcoin can be process with internet connection while gold has not. you cant survive in bitcoin if you don't have any good source of income while waiting for another profits unlike in gold.

Daily basis can prove that they are really different.

GOLD:
1. Income is guaranteed
2. No transaction will be needed
3. Unique

BITCOIN:
1. Earn a good profit in a few years
2. Easy to claim your profit
3. Safety for transaction OUTGOING/INCOMING

It is different from all aspect.
It's right for us where we are.

Gold is somthing you can see, can hold in you house or in your hand, not like BTC. But what ever, it's also worth to try

No, bitcoin is great but if a person is holding gold to use as a currency in some kind of apocalyptic future, then it is logical to think that person believes that running water, electricity and the internet are not gong to be available, besides tell your friend that hoarding gold is an option but in that kind of future you will get a lot more if you are able to barter things people actually need, like medicines, alcohol, cigarettes and toilet paper.