Bitcoin Forum

Everyone will say scarcity is expensive, the gold is scarcity the same as the bitcoin.
I can't find the reason from the gold valuable.
It can't do anything worth thing...

They both may be regarded as assets, but I think both are different at the same time. Bitcoin can be used for small transactions, while Gold serves as a safe storage for large funds which may be too risky if it were put in Bitcoin.

If you reffering to long term investment i will go for gold and if i go for short term investment then  i will go to bitcoin why? Because gold have a longer life than bitcoin because bitcoin has maximum value and maximum count unlike gold if you storing it a long long time it will be more valuable.

not everyone is saying it!
there has always been some comparison between bitcoin and gold because people love to compare things with each other even though they have nothing in common but i don't find that much similarity between bitcoin scarcity and gold's.

gold has been around for millions of years and has been used as a valuable for thousands of years and it has been even used as a currency for hundreds of years.
bitcoin has been around for 9 years!

WHAT :o

here is an example of a bad comparison!
how much gold? 1 bar of gold or 1 ounce?
how much bitcoin? 1 whole bitcoin or 1 bit (100 satoshi)?
you are comparing one of the smallest units of gold with one of the biggest units of bitcoin

It is my understanding that gold, to some extent, is comparable to bitcoin, is stability, and gold is more stable than bitcoin, which is inevitable. But from the return on investment, bitcoin's return on investment in the first phase is certainly higher than gold.

I my opinion gold has a huge advantage over bitcoin, simply because it's already regulated and governments kind of control it since they have large reserves, so they want it to stay valuable, and it's easy for them to collect taxes from gold. Gold is not very anonymous as well, so it's easy to keep a tight control on who owns what.

Bitcoin has all the benefits of gold in terms of being scarce and decentralized, so it's value should not be affected by the economies of a single country, and it has more advantages over gold, since it has the potencial to be easily spendable in the future, easier to store, less expensive to mine, and more secure since you can't fake it, and you can try to fake gold. On the other hand, governments don't really like it right now, and there is a lot of insecurity on the markets. If this problem is solved, then BTC will be way better than gold.

How you predict these possibilities first you should think gold is an ornament not a currency but both are valuable so Bitcoin is good profitable investment for long term not a gold.
  Bitcoin is 2x profit in after one year but gold is not raise in these ratio it take more than 5 years. No one should wait for long long investment.

These both are different from each other. People with lack of knowledge cannot go for bitcoin so thet can do investment in gold. Also gold can be use as safety at the time of financial instability of any person.

What about attempts to link both Gold and Bitcoin?

If you dont think that gold is valuable then dont accept the fiat money that would be given to you. I believe that bitcoin and gold are valuable in terms of finance, the only difference is their supply. Bitcoin has only limited supply while gold has a vast of supply that is circulating all over the worl and accepted by all nations unlike bitcoin which is only accepted by those who really understand cryptocurrency.

Gold will always be the fall back position. It has many applications-electronics for example and deep routed tradition and belief in it gives people confidence in it, Bitcoin is still far to new and novel for most people to trust.

Gold is like bitcoin. They have the same quality and value though they are both different in usage. Bitcoin is a digital currency, it is a medium of exchange in peer to peer system. Bitcoin also serves as the storage of assets and balance while gold is also a asset but it can be seen by our two naked eyes. It is also for accesories and collections. They are both different but they are essential in our life.

Gold is a physical thing and it is the one of the rarest metals available on our earth that's why the price of gold is expensive which is related to the supply and demand of gold.But bitcoin is a virtual currency and still bitcoin didn't complete a decade so it needs some decades of centuries to adopt to the new technology of virtual currency,so until that gold will be considered as valuable.

Bitcoin and gold has very different purposes so I can say thst their value will be equal. The only thing that I found that they have much alike on the future, which is, both of these things always on raising record, although nowadays bitcoin price is drop significantly, soon or later it will raise back to the exact price where it belongs. Many people believe this moment will come true, if people not believing on it, how can bitcoin suppose to hold for this long?

Precise analysis  :)But I think gold price just stable than bitcoin and nothing can better than bitcoin.

If here provide the 10000 dollars for you, you will choose to buy the BTC or gold?

Sure, the bitcoin need time to persuade nowadays most of the people to believe its value and importance. ::)  The gold also waste the long time to becoming nowadays importance.
And do you agree this article opinion ?  http://blog.epay.com/c/why_cryptocurrency_is_the_future

But we can't use the gold to buy the things , don't you think bitcoin is more convenient and smarter currency?

Thus consider your mind, bitcoin just need the time. But I agree with this article said , major disadvantage of a gold-backed currency is regarding the future. http://blog.epay.com/c/why_cryptocurrency_is_the_future . We all looking forward the future everyone.

I think bitcoin and gold have the same degree of sustainability. Currently bitcoin and gold are the most sought after commodities and this provides tangible evidence that bitcoin and gold will have an ever-increasing level of demand. And when more and more demand will increase the price.

in my opinion both bitcoin and gold are equally valuable in finances, the difference is their inventory. bitcoin has a limited supply while gold has a very wide inventory and circulates around the world and is received by all countries unlike bitcoin which is only received by those who really understand crypto. even though they have the same quality and value but they differ in usage. bitcoin is a digital currency and bitcoin can also function as asset storage and gold is also an asset but can be viewed by both our naked eye because gold can be used as accesories and other collections. though they are both different but equally important in our lives.

All is need the time , the bitcoin will beyond gold to make people to accept it.

I think gold is actually not equivalent to bitcoin. One is cash, the other is virtual money. You use bitcoin to buy gold, but I believe you will not exchange gold for bitcoin.

Why are you comparing which is bigger.I dont like the idea of comparing the gold and bitcoin.Gold is Gold.Bitcoin is Bitcoin.If you have them both,that’s good for you.They are both important to our lives.We already know that gold is already gold.

I don't think it has any problem with my opinion. I just think the bitcoin is more worth us to invest to earn our money.

haha Precise comments

I also think that, but for different countries, the symbolism of gold is different. The value of gold as a spot in reality is much higher than bitcoin, at least for now.

When it comes to usability, I would say that bitcoin has far more potencial than gold. Since it's digital, it can be easily used for payments because you can sell fractions of it in a simple manner. It's even more secure than gold, because unlike gold, it can't be faked. Not everyone can easily detect if the gold they are getting is not fake, and you can't say that about a bitcoin. If it's verified by the network, then it's a real bitcoin. Bitcoin is easily stored as well. So yes, when it comes to payments, and since you can't walk around with a gold bar, and break it in pieces to buy things that cost only a fraction of your gold bar cost, then BTC is better than gold.

Don't forget though that gold has other use cases, and that is what gives it value. Gold is used in industry, and bitcoin can only be used for payments. It only has one function but has the potencial to be really good at the single function. Gold on the other had has multiple functions and that's why it continues to be valued during all these years.

I don't think that one has to compete with the other, and both are valuable.

both bitcoin and gold have value because people give value to it. in your opinion bitcoin have more value compared to gold but to others gold is more valuable. they are not the same but they have similarity especially that they can be used as currency.

Oh, really? Which one Country?

Thus gold still has the value in the future? In the economic development nowadays, the gold value will be smaller and smaller. Instead, maybe there will appear the new cryptocurrency like bitcoin.

gold is not such a volatile financial instrument as bitcoin. gold is more stable, but we do not know what will happen next. bitcoin can be actively used, and gold is a relic of the past. bitcoin is the future, and I have no doubt about it

But we all prefer to invest in BTC

If gold have high value then it does not mean it will affect the bitcoin value and demand for me still the most wanted investment is the bitcoin and will prefer bitcoin only, gold is not safe to have for the long time because if we are having gold in our home it is full of risk if we will invest in bitcoin then it is safe, why? Because you cannot carry all of your gold with you but you can have all of your bitcoin with you any time just because of the bitcoin wallets.

Gold is the only value in the world that doesn't lend itself to emissions, inflation or fashion))

You can't find the reason why gold is expensive? I thought this was taught at school. Gold is a valuable resource because there isn't much of it on our planet. Gold is widely used in jewellery and electronics thanks to its appearance and properties. That is why some people might prefer to "invest" in gold, we will always need it. However, we are not able to tell how much gold is available unlike Bitcoin which has limited supply of around 21 million coins that can be mined.

It is precisely in the year that bitcoin will be rampant, for economic problems, that we know by the end of last year bitcoin has shown its fangs to ruin the financial system of the world's eyes ...

Same with my mind. If me, bitcoin price is more higher than gold, when we sell gold, price of gold always more cheaper than we buy. So better we invest btc

Yup!!! I also don't like think that the gold value bigger than Btc.Although there isn't much difference between Btc and gold.Gold prices remain steady for a long time in price but Btc prices aren't stable for a long time.Everyone wants to be profited,and profit is more in Btc.But there is such a match between gold and Btc that both are considered to be the property fo the future.

Mostly varous funds are stored in gold, which people don't want to lose. Gold is more stable and is regarded highly. Bitcoin in relation to gold is an unstable asset of course.

Not everyone recognizes the value of bitcoin, and the value of gold is recognized by most people around the world, and you can exchange gold for legal tender in much of the world. But only a small number of people recognize the value of bitcoin.

Gold is internationally recognized as a measure of national value. Gold also has the use of jewelry. Gold is a metal that we can handle, touching them. Nowadays bitcoin is not common, some countries do not know bitcoin, some do not accept bitcoin. Although bitcoin prices are high, bitcoin has not served the needs of human life. So I think the value of bitcoin is not equal to the value of gold.

Since the weight of gold cannot be compared to the weight of bitcoin i don't think we can be able to establish this argument in the right perspective because we can't be able to determine which amount of gold is better than which amount of bitcoin and vice versa. This renders the comparisons useless.

Bitcoin is the world's most expensive currency. It's position is on top of all currencies. It does not compare to any currency. It's speed is more than the other coins. I think ,it will not wait for more days, after which all the transactions will be completed by bitcoin.People are now paying a lot of importance to bitcoin. It's popularity is increasing day by day. It does not have the capability to sell the coins. There is no other currency in front of it. So, it is still the king of all the coins and in future also.

Gold's scarcity is why it is valuable.  Otherwise it is just a shinny rock. Don't over think it, the value of gold is based on nothing but perception.

If this is the case then why is it chosen to be used in industry (429 tonnes annually) ?

The answer - it has unique properties that other metal do not have.


Bitcoin is just code that can be copied and even improved.  Gold is an element and will always remain the same.

I have approx £450k in precious metals and sleep well at night.  If I had that amount of money in crypto I would crapping myself encase I get hacked, a wallet service got hacked, a weakness in the code is discovered, an exchange gets hacked at the time of cash out, the price drops 90% overnight, new regulation is introduced crippling cryptos.


The only reason bitcoin is valuable is the perception by probably 95% of people that it will moon and make them rich.  They dont give a shit about the tech and only view it in dollar equivalents.  When bitcoin price eventually stabilizes most people will lose interest in it when the realization hits that they are not going to become overnight millionaires.

their value is just based on demand because something presepction about valuety and precious thing so people want to buy
but i think gold can bigger than bitcoin if many altcoin backed by gold

While gold has some special chemical/electrical properties, the price of gold is not because of these properties. Iron is far more useful than gold, for example. The properties that make gold valuable are scarcity and the inability to profitably counterfeit it.

As far as why other people are into bitcoin... That's their business and they are free to make any decisions they want, even dumb ones.
For me bitcoin is doing just fine. It is the only money I have used on the internet for years. I could care less about getting rich. I pay my taxes and enjoy my life. Oh and I also hold a fair amount of gold. Because gold is awesome, no matter why.

This is an example of real money.

I just purchased this Spanish, Phillip II gold 2 Escudos cob, a real gold Doubloon as immortalized in pirate stories created in the Toledo mint.

It dates from the year 1556 - 1598 yet it still cost a few £k.

Do you think Bitcoin will still be around and valuable in around 500 years?

https://i.imgur.com/61eV7v0.jpg

Both are valuable and for nowadays I think it is better to have both if you can afford. Gold is more stable than bitcoin and this gives it more credit

for now the bitcoin value is far above the gold. only, to the stability of gold prices make it still in demand by the community as an investment asset. and also the legality of gold has also been recognized, so no doubt for investment in gold.

if gold can't do any worthed stuff then why people from many years and till right now is keep looking for it ?
im sure if you find out a bunch of gold, you will keep it rather than sell it. LOL  :D

how the price of something become valuable is because its demand and supply that exist. as long as total amount is limited, (like bitcoin and gold) im sure they will keep looking for it

In fact, bitcoin has become a speculative commodity akin to a non-us currency, or as an electronic gold.

Those who have invested in gold futures have been concerned about whether the physical gold he bought and sold is real or not.

The value of gold is not greater than bitcoin is true if you make short-term investments. But for long-term investment is different, because from time to time gold prices always increase and investment risk in gold is not too high.

For now gold is still very much more valuable than bitcoin, the market is still bigger and the investors are more than those in bitcoin, but bitcoin is coming up fast and it won't be long before it surpasses it.

Ya you're thinking right The gold value bigger then Bitcoin I also believe on it.

I don't think so and I am completely disagree with you because the speed with which the valuation of BTC has been increasing and millions are investing into BTC, suggest that BTC is the new gold and now people wants to invest their money into BTC rather than into gold or any other investment because the profit ratio the BTC can provide is just incredible and this thing of BTC has attracted the attention of millions of investors

Well comparing Gold to BTC is something that i think ts quite unreasonable. The fact that Gold accepted world wide as a measure of value gives it an advantage over BTC.and BTC's freedom gives its an advantage over GOLD, these are two different things operating differently that comparing them makes no sence at all

Yes, gold is also being recognized for the time being.
Bitcoin has also gained recognition, so the value of bitcoins is the same as gold.

Yes this is increasing. The value of bitcoins are just being compared to the gold and this is enough reason for the wise people to just think that bitcoins can be equal to the gold or even more than them. We are in the digital time and things are moving faster. So in case of currency as well, gold is being replaced with the bitcoins. Although it will take much bigger times but still high hopes.

I think gold and bitcoin have the same purpose, that is to be a high-value item, and can attract public attention.

but in terms of function, bitcoin has more functions and benefits than gold. for now, gold is only used as an investment, but cannot be used as a transaction tool.

I think bitcoin will be gold in the future, so will many people to convert gold into bitcoin.

You need to search friend. Bitcoin has the highest price value but not stable. So the good to have a gold is it will increase year after year and it cannot decreases.

Gold vs Bitcoin. Pretty interesting topic. Bitcoin has a price of almost $7,000 while the 10 oz Gold prices almost $14,000. Gold wins but can gold be get on investing or in advertising maybe not.
On my own opinion I prefer to have Bitcoins rather than Gold because bitcoins can be mine in 1 month in a Power house of Super Computers while mining a Gold for 1 month maybe 5-10 grams you haven't some. ON MY OPINION

that is not true. Gold is valuable because of its scarcity, but suppose the internet goes down, it means bitcoin has no value whatsoever, however gold gives you the values in terms of its chemical characteristics, like it's a good isolate etc...

No I am not agreeing with you because for me bitcoin is more valuable than gold. As you can use bitcoin for payment whenever you want and you can invest in bitcoin to get fast and safe profit that you can’t get through gold? Bitcoin gives you safety as wallet that you can easily carry with you but you can keep or carry gold with you, bitcoin can use to buy everything but we cannot use gold for this, so to be bitcoin is much better because it has high value and high demand than gold.

the price of bitcoin can fall only when new and worthy competitors with large capitalization appear in the crypto market! then there will be no sharp jumps in the price due to bitcoin! Bitokoin itself is a child who has just begun his life and we are at his sources!

I think you are right. After a point, it is hard to compare the gold with the bitcoin. I think this two have different functions as you said, in the terms of using.