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Title: How Bitcoin differs from gold Post by: Nathrixxx on September 12, 2021, 10:50:09 AM With the little summary from my perspective what I see as difference between gold and Bitcoin.
Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price. Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government. Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. Gold is centralized while Bitcoin is decentralized. Gold has been in existence before ages while Bitcoin got into existence 2009 Relevant opinions are welcome, Quote Gold’s market capitalization is around 11 trillion USD. That means it’s the most precious metal globally. No asset has also challenged its position within the global economy. Initially, people used gold to back other currencies. Today, critics argue that early investors poorly did gold’s adoption to the current economic system. But, this is a testament to the undying and strength of this asset. However, the emergence and increasing popularity of the pioneer cryptocurrency, Bitcoin, has sparked a debate about the possibility of a gold replacement. Some people argue that Bitcoin could replace gold in its position within the global economy. That’s because Bitcoin had outperformed gold several times since its inception back in 2009. But how does this cryptocurrency differ from gold? The Driving Forces Among the forces driving the increasing Bitcoin’s price is the perception of its potential as a hedge against possible inflation. The economic turmoil and devastation caused by the global pandemic prompted large institutions and small-scale investors to consider this digital asset. That’s because they think it can defend them against inflation during difficult economic times. Essentially, Bitcoin’s supply has a cap of 21 million. And this differentiates it from fiat money that politicians can print at any time. As more individuals and institutions purchase Bitcoin, the cryptocurrency will become scarcer. And this will push its value upwards. Additionally, Bitcoin depends on the blockchain, which is a decentralized technology, and it allows for the immovable and unique record. With this technology, investors enjoy security and easy access to transaction information at any time. Bitcoin’s decentralization means you can participate in crypto exchange without any interference from the government or banks. What’s more, Bitcoin allows for more privacy and anonymity. That because you don’t have to disclose personal information when sending or receiving Bitcoin. Volatility Bitcoin is a highly volatile digital asset. And this causes concern among investors that want to use it as a haven asset. Intrinsic Value The conductive and anti-corrosive properties combined with the established cultural tradition of gold have given it the commercial usage history. People use gold to produce jewelry and other luxury items. This precious metal also has other applications, such as in the dentistry sector. Therefore, the significant value of gold will most likely continue even in the future. On the other hand, Bitcoin value depends on the online transaction value and the belief that people will delegate financial authority and trust to this currency. And this cryptocurrency might shine in these areas. As such, Bitcoin’s value is what users consider its worth. It’s crucial to note that gold and Bitcoin have commonalities. For instance, both are rare resources. But while Bitcoin’s supply limit stands at 21 million, nobody knows when people will mine all the gold in the world. That’s because gold doesn’t have a finite supply like Bitcoin. https://m.guardian.ng/business-services/how-bitcoin-differs-from-gold/amp/ Title: Re: How Bitcoin differs from gold Post by: Fesatmas on September 12, 2021, 03:27:00 PM With the little summary from my perspective what I see as difference between gold and Bitcoin. Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price. Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government. Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. Gold is centralized while Bitcoin is decentralized. Gold has been in existence before ages while Bitcoin got into existence 2009 Relevant opinions are welcome, Aren't these simple points enough to explain how the two assets with their own characteristics play a role in the sector? When it comes to value and durability, gold is clearly stable. But you need to underline when the government's control of Bitcoin remains a reference for us that the freedom to have wealth lies in the offering of Bitcoin. Moreover, when El Salvador adopts Bitcoin as a legal form of payment, then we see how having the integrity of freedom has clearly led El Salvador to a better digital economy growth. Title: Re: How Bitcoin differs from gold Post by: BlackHatCoiner on September 12, 2021, 03:36:25 PM Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. It doesn't require high computer skills. Programmers can't “extract” more bitcoins than the rest of the users, just because they're more familiar with the computers. I know what you were trying to mean, but please look after your writings.Gold is centralized while Bitcoin is decentralized. Excuse me? :PWould you mind defining me what's “centralization” to you? I will just pick the first result, until you do. Quote the concentration of control of an activity or organization under a single authority. In a sentence: "the centralization of all financial power in the hands of its leaders" Gold isn't centralized. It isn't issued nor owned by one entity. Title: Re: How Bitcoin differs from gold Post by: Leviathan.007 on September 12, 2021, 05:14:35 PM In a theory both are valuable assets and both can save people from the inflation rate, but there can be some differences between these two. The main difference that anyone talks about is gold got a value by itself but bitcoin won't but they forget that the supply and demand rule and make anything valuable or invaluable. The other difference can be the stability of the price since the gold market is pretty much older, there will be much stability and this would be better for people who don't want to take much risk. But generally, both are assets and people can choose to invest any of them depending on themselves.
Title: Re: How Bitcoin differs from gold Post by: bittraffic on September 12, 2021, 05:26:03 PM Gold is also traded on the spot market, you just don't have that physical gold though it's much like a representation that you have something of gold not different from digital assets. I believe we all would likely want the physical gold just as we want BTC on our own wallets installed on our devices. If you have physical gold, however, probably half a million worth of it you will have a hard time hiding it while walking unnoticed beside the street. That's a big difference when you just have BTC. Title: Re: How Bitcoin differs from gold Post by: ReiMomo on September 12, 2021, 06:50:32 PM Where the comparison comes from? Bitcoin is unique and can be used as a currency and as an asset as well. Whereas gold remain just as an asset. I am sure in future, Bitcoin will be used as an asset. Though investing on Gold remains safe, investing on BITCOIN would be really challenging always. However, I would choose Bitcoin and buy gold from the revenue I get out of Bitcoin.
Title: Re: How Bitcoin differs from gold Post by: alpamar99 on September 12, 2021, 07:13:20 PM Simply put, gold is more real (can be held by hand) and bitcoin is an asset that is a currency or digital asset.
and it is true that even though gold is good and in terms of very small risk in losses, of course the profits will not be as big as bitcoin because bitcoin is indeed a risky thing in terms of volatility and its market capitalization is very different. Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government. Title: Re: How Bitcoin differs from gold Post by: wxa7115 on September 12, 2021, 07:41:39 PM In a theory both are valuable assets and both can save people from the inflation rate, but there can be some differences between these two. The main difference that anyone talks about is gold got a value by itself but bitcoin won't but they forget that the supply and demand rule and make anything valuable or invaluable. The other difference can be the stability of the price since the gold market is pretty much older, there will be much stability and this would be better for people who don't want to take much risk. But generally, both are assets and people can choose to invest any of them depending on themselves. While gold and bitcoin are often compared and there are many similar characteristics between the two at the same time there are some dramatic differences between the two.Probably the most important is how they derive their value from, gold is an asset that you can touch with your hands and due to its characteristics it became the preferred form of money for thousands of years, however bitcoin derives most of its value from its network effect, so the more people use it and are part of the network the more valuable it becomes. Title: Re: How Bitcoin differs from gold Post by: 20kevin20 on September 12, 2021, 08:02:56 PM Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government. And this is gonna change soon. At least the regulations.. when it comes to stability, we probably need at least a few more decades until we can call Bitcoin "stable" as well - although I doubt that even then there will be stability due to halvings and lost coins making BTC scarcer.Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. And here goes the difference between digital and physical. Bitcoin has digital labor while Gold has physical labor.Gold is centralized while Bitcoin is decentralized. You hit the rock hard here, lol. Gold isn't centralized. It came from the Universe, God or however you'd like to call it. In any case, it did certainly not come from humans. Regulations don't make a coin/asset centralized, nor does the fact that only a few people own most % of it.Gold has been in existence before ages while Bitcoin got into existence 2009 This is both good and bad tbh. Gold has a much longer history which makes it less possible to fail as a store of value asset. Bitcoin's recent inception makes it easier to go away in the near term future. The more time passes without it going away, the smaller the chances are for failure (imo).Overall, I think these two assets are so similar yet so different. There are many things to say about both of them that are either very similar or very contradictory. The thing is, I don't really seem to understand right now anymore the real reason and purpose of comparing the two. Title: Re: How Bitcoin differs from gold Post by: tulusikhlas on September 12, 2021, 08:50:26 PM There is no need to tell you that what makes us prefer Bitcoin in terms of profit is also obvious. In other words, Bitcoin actually offers something different. If you want to find out more, you can have a certain amount of gold in your home at the current Bitcoin price, and store the Bitcoin in your digital wallet, keeping the phrase seed in a safe place. Which is more practical and efficient for your convenience?
There was no need to talk about the advantages between the two, that was obvious from the start. Title: Re: How Bitcoin differs from gold Post by: hatshepsut93 on September 12, 2021, 11:12:48 PM Gold is not stable, its price is decided on the free market and changes through the year. It's simply not as volatile as Bitcoin.
Gold is not regulated, gold markets and companies that deal with gold are. This is already happening with Bitcoin too. Gold is decentralized, you can find it in many places on Earth or even outside of Earth. And it's a physical thing so you yourself can control it. Title: Re: How Bitcoin differs from gold Post by: Levero on September 13, 2021, 02:24:00 AM Bitcoin is decentralized, it will not be controlled by government banks or any third party, and funds can flow freely. Gold is centralized, and it is subject to the deployment and control of the national government.
The total amount of Bitcoin is limited, with a total of 21 million, which can avoid economic problems such as inflation. Bitcoin is also easy to trade and store.Its transactions are carried out on the Internet, and as long as the Internet exists in the area, transfer transactions can be carried out all over the world.And the storage of Bitcoin can be safely owned by just putting it in the wallet and remembering the private key. Title: Re: How Bitcoin differs from gold Post by: Darker45 on September 13, 2021, 02:55:56 AM For starters, bitcoin isn't tangible unless we put it in a hardware wallet that represents it as a tangible... No, I don't think so. You put your Bitcoin anywhere, Bitcoin remains the same. It doesn't transform from intangible to tangible simply because you are using a hardware wallet. If you move your Bitcoin from your software wallet to your hardware wallet, your Bitcoin didn't actually move to your hardware wallet, so that even if your hardware wallet is destroyed, lost, or stolen it doesn't mean your Bitcoin is also destroyed, lost, or stolen. Bitcoin is always intangible. Even those so called physical Bitcoins are not really Bitcoin. They're physical coins bearing the private keys to the Bitcoin stored in the blockchain. Title: Re: How Bitcoin differs from gold Post by: fiulpro on September 13, 2021, 03:11:48 PM Bitcoins and Gold are way different as compared to each other than that they have to understand the fact that there is no need to actually compare them in the first place. Since bitcoins and cryptocurrencies are ways apart, you have to see that gold is a traditional currency which is something that people use all around the world, cryptocurrencies are more dependent on the mobile operations and the knowledge about the basic trading. But with gold you just go and buy, there are companies who are selling traditional gold as well as gold stocks. Bitcoins is way stronger but manipulations are ofcourse gonna be there as well .
Title: Re: How Bitcoin differs from gold Post by: Kong Hey Pakboy on September 13, 2021, 03:27:16 PM Gold is not stable, its price is decided on the free market and changes through the year. It's simply not as volatile as Bitcoin. It's stable compared to bitcoin although it's not going great but you have to understand that gold will always have a demand as well as bitcoin. What? Gold isn't regulated? Where did you get that idea from?Gold is not regulated, gold markets and companies that deal with gold are. This is already happening with Bitcoin too. Gold is decentralized, you can find it in many places on Earth or even outside of Earth. And it's a physical thing so you yourself can control it. Title: Re: How Bitcoin differs from gold Post by: Poker Player on September 13, 2021, 04:16:49 PM -snip Your post is an accumulation of nonsense, as some have already pointed out. It seems to me that you have written it without paying attention or thinking much about what you say, for example you say: Gold is centralized while Bitcoin is decentralized. which is false, as pointed out by BlackHatCoiner, but it is not based on the article you cite (obviously because those who write these articles do research and check it before publishing it). Of the things that others have pointed out as incorrect, this one has not been mentioned: Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price. Take a look at this and you will see how wrong you are: https://companiesmarketcap.com/assets-by-market-cap/ Next time do your research better. Title: Re: How Bitcoin differs from gold Post by: jostorres on September 13, 2021, 06:02:19 PM It's stable compared to bitcoin although it's not going great but you have to understand that gold will always have a demand as well as bitcoin. What? Gold isn't regulated? Where did you get that idea from? Haha, even I am hearing that gold isn't centralized and regulated for the first time. Actually, if anything we can hold and hide was decentralized then all the cash we have is technically decentralized as well ;DThe key differences between gold and bitcoins are: 1- Gold is stable, Bitcoin is volatile 2- This point might be for me only but BTC is a currency while Gold is an asset. 3- Gold is unlimited while bitcoins are not. The last point also underlines why so many investors are moving towards Bitcoins ;). Title: Re: How Bitcoin differs from gold Post by: Hydrogen on September 13, 2021, 11:58:49 PM Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government. The price of gold is determined by its largest buying/selling demographic. The largest HODLers of gold are by far central banks and holdings such as fort knox in the USA. Gold isn't regulated by governments. It has become common for news reports of counterfeit gold bars and coins to be published. Governments do nothing to regulate or protect the integrity of gold and precious metals markets. Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. Steve Wozniak made a great point on this. He said that technology for detecting and extracting gold from the earth would improve over time. While technology improvements for mining bitcoin would remain steadily constant, no matter what breakthroughs in bitcoin mining occurred. This infers that the price and value of bitcoin, could retain greater stability over precious metals and gold. At least as far as the mining aspect goes. Gold is centralized while Bitcoin is decentralized. Gold markets which determine the value of gold are centralized by the largest traders of gold. Who are central banks. Title: Re: How Bitcoin differs from gold Post by: globalpain on September 14, 2021, 08:15:16 AM Bitcoin and gold are very different from each other gold is known to the whole world but the use of bitcoin is possible only through the online world. Gold has been the single most valuable and popular asset in this world of investment for many years it is used to devalue various currencies is also used in various electronics products and is widely used in the world of jewelry. But it is even more used by investors when they need a safe haven so everyone thinks bitcoin is safer than gold. However, if we look at the last few years I think cryptocurrencies are really growing rapidly,many people are getting to know and start investing or trading in cryptocurrencies especially bitcoin, apart from it all for me personally both gold and bitcoin are valuable assets because we know every year usually the price goes up Title: Re: How Bitcoin differs from gold Post by: Rajamuda on September 14, 2021, 03:15:53 PM In the investment world, both have weak and strong points, but I still more emphasis on Bitcoin. We know that gold is like a traditional thing, but Bitcoin is something that has entered the modern era, which was created had a lot of very good responses so that its advantages seem to have surpassed gold in general. In helping human finances/human economic life, I think Bitcoin has more roles than gold.
Title: Re: How Bitcoin differs from gold Post by: Abiky on September 14, 2021, 03:50:09 PM Gold is also traded on the spot market, you just don't have that physical gold though it's much like a representation that you have something of gold not different from digital assets. I believe we all would likely want the physical gold just as we want BTC on our own wallets installed on our devices. If you have physical gold, however, probably half a million worth of it you will have a hard time hiding it while walking unnoticed beside the street. That's a big difference when you just have BTC. Exactly. Bitcoin is portable, while Gold is not. You can store Bitcoin in the smallest place you can imagine. But that's not the case with Gold. In some sense, this makes Bitcoin better than Gold. Anyone can carry Bitcoins anywhere in the world without getting noticed (sort of). Everybody knows how much Bitcoin exists in the world (which is 21 million), but the same cannot be said about Gold. The pioneer cryptocurrency brings the best of both worlds by combining the scarcity of Gold and the versatility of traditional currencies. You can use Bitcoin as a currency or as a store of value for long-term wealth preservation. It may not be perfect, but it's striving to get there. Both Gold and Bitcoin will have their own supporters and haters. Neither will replace the other because they're completely different asset types. I'm fine with that as long as people have an escape route from the current monetary system. Just my opinion :) Title: Re: How Bitcoin differs from gold Post by: yhiaali3 on September 14, 2021, 04:10:41 PM There is a great similarity between Bitcoin and gold, although there are also big differences, but in my opinion, Bitcoin beats gold:
1 - Ease of dealing with it and sending it to anywhere in the world across the border in a short period of time, while this is not possible for gold. 2 - The ease of protecting bitcoin through a wallet and a private key only, while protecting gold requires highly guarded banks and costs a lot of money and equipment. While gold beats bitcoin by: 1- A brilliant material asset that has great confidence in all people and does not lose its value over time, but rather maintains its value permanently. 2 - Bitcoin needs the presence of electricity and the Internet, while gold stands on its own and does not need the presence of anything else, so in the event of an emergency that leads to the stopping of electricity and the Internet, Bitcoin loses its value, while gold cannot lose its value in any way. Title: Re: How Bitcoin differs from gold Post by: Ucy on September 14, 2021, 05:10:40 PM I guess by stable you mean the price fluctuation isn't extreme. But I wonder what you mean by "it's regulated by government". What part of gold is regulated exactly, is it the price, supply, how it's mine, etc? Bitcoin regulation is code based and that somewhat affects the price too. A kind of regulation that keeps price fluctuation moderate without compromising on its deflation should be decentralized.
What exactly is centralized about Gold? You mean how modern humans have hoarded and centralized it, or is it about supply and mining regulations? How does centralizing our collective resources sound to you, fair? If it was suppose to be centralized, our CREATOR would have created it centralized. By the way, Our natural resources are naturally decentralized and artificially centralized. It's more like saying water is centralized because of artificial water reservoirs... Or seas, rivers that humans claim to control/own. You can mine, sell and hold gold depending on where you live. Maybe it's centralized in the part of your world. I know of places where you mine natural resources freely. There are things that have already been taken care of by Bitcoin, like supply regulation. Other regulations should be handled in similar manner. Centralized government regulations will only ruin it. Title: Re: How Bitcoin differs from gold Post by: ajqjjj on September 14, 2021, 07:07:55 PM Gold is just an asset, Bitcoin is a currency and yes it is accumulated as much as it can be and stored as an asset hoping it will certainly yield huge profits than gold. If govts accept Bitcoin as an asset and allow it to use everywhere then yes, number of gold investors might focus on Bitcoin.
Speaking from a vast perspective, gold market and crypto market are manipulated simultaneously so that each receive investment equally at one or the other point. We need to look at it very closely. Title: Re: How Bitcoin differs from gold Post by: perfect999 on September 14, 2021, 09:11:18 PM With the little summary from my perspective what I see as difference between gold and Bitcoin. For me I believe that Bitcoin and gold are two different things, although they might have a little things in common. But if we’re to be looking at it that way, then there are lots of commodity or assets and has same features such as gold. So if we’re to start looking at it that way, then all of them would have been called gold as well. For media different and should be called whatever they’re named. I don’t see Bitcoin as a digital gold, I see it simply as Bitcoin. They’re both totally different from each other, gold is physical and is mind from earth, why Bitcoin is digital and is mind using the Internet.Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price. Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government. Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. Gold is centralized while Bitcoin is decentralized. Gold has been in existence before ages while Bitcoin got into existence 2009 Relevant opinions are welcome, Title: Re: How Bitcoin differs from gold Post by: GeorgeJohn on September 14, 2021, 09:26:37 PM Both of them are slightly differs because cryptocurrency is made of subbranch of bitcoin and it's obviously called a digital currency, the values of bitcoin can't be use to compare to the value of gold currently, irrespective that Gold come into existence before a massive adoption of crypto and more especially bitcoin, i think the liquidity of bitcoin is approximately times ten more than gold, so it's quite understandable from the bases of bitcoin and gold in different domain.
Title: Re: How Bitcoin differs from gold Post by: Trouvaille on September 15, 2021, 02:35:32 AM 1.Bitcoin has both the attributes of assets and currency, but gold is just an asset.
2.The number of bitcoins is fixed and limited, and will not increase mining at will, and has the property of fighting inflation. 3.Bitcoin can be divided, and it is traded and stored on the Internet, which is easy to carry and transfer transactions around the world. Gold is not easy to divide, it is also easy to wear while carrying, the transaction speed is slow and it is not easy to transfer. 4.Gold is regulated by the government. The decentralization of bitcoin is not regulated by any government agency, and the assets are free and fully controlled by themselves. Title: Re: How Bitcoin differs from gold Post by: LUCKMCFLY on September 15, 2021, 04:53:28 AM Naturally, Bitcoin and gold differ primarily by their history, the history that Gold has for centuries is remarkable, BTC began since 2009, which has gone through a series of events where many have called it Bubble, but Due to the high volatility, BTC tends to have and fulfill its market phases much faster than gold, that is, its accumulation stage, uptrend, Distribution stage and downtrend to enter the cycle again, it usually occurs in little time, of course gold is much more stable and is considered one of the assets that can carry out the worst of all crises in a nation, I think that the main difference between BTC and Gold lies in its history and trust.
Title: Re: How Bitcoin differs from gold Post by: Reid on September 15, 2021, 06:50:39 AM Gold has been in existence before ages while Bitcoin got into existence 2009 I have been in existence before you so does that mean you have to die because I am older and more experienced? Friendster and MySpace was the thing before as social media outlet now it's Facebook and Twitter. What does it all mean? Something new will be discovered but it doesn't mean we should forget our traditional way of keeping assets. We can support them both but one of them will always have the upper hand. Each investor will have to make their own choice of what they prefer. No one is forcing. My wife prefers keeping gold accessories while I am into Bitcoin. We never had a problem about it. Title: Re: How Bitcoin differs from gold Post by: EewardDean on September 15, 2021, 07:00:43 AM Gold is the same as Bitcoin. Both are investment products with investment and collection value. There are similarities and differences. Gold has been around for a long time, and its value is stable. It is suitable for investors who do not want too much risk. Investment, in the age when virtual networks are developed, many people are still afraid of being deceived in virtual networks. Gold is a real thing, which may be even more convincing. But how to choose depends on your own ideas. Each asset has its own benefits.
Title: Re: How Bitcoin differs from gold Post by: MIldic1c on September 15, 2021, 07:12:07 AM What makes Bitcoin more attractive than gold is that Bitcoin is unique. Decentralization is not regulated. This is different from gold. The characteristics of the two assets are different. Relatively speaking, Bitcoin is more risky. For example, some traditional investors may not believe in virtual currencies, so each has its own characteristics. If you want to obtain greater profits, you have to bear year-on-year risks. Small-risk investments also have less returns.
Title: Re: How Bitcoin differs from gold Post by: Maeve@ on September 15, 2021, 07:14:56 AM The difference between Bitcoin and gold is very obvious. The total amount of Bitcoin is 2,100w, and the total amount of gold will always be discovered and increased. When the number of gold mined becomes more and more, it will affect the price of gold. The trend has an impact. When Bitcoin is mined, the price is not affected too much! What is certain is that more and more gold investors have begun to switch to investing in Bitcoin, which also has a great relationship with the total amount and mechanism of Bitcoin!
Title: Re: How Bitcoin differs from gold Post by: Subbir on September 15, 2021, 03:00:59 PM Bitcoin is decentralized but the worth of gold is under the control of the govt but within the case of bitcoin there's no such control bitcoin is priced supported the market is different during this respect. Bitcoin investment has seen its price rise since its inception the quantity of bitcoin is far above gold the quantity of bitcoin is that the most if you differentiate between them while many don't think it's safe to take a position in gold, they are doing consider bitcoin to be a secure haven.
Title: Re: How Bitcoin differs from gold Post by: bitgolden on September 15, 2021, 06:38:21 PM I have been in existence before you so does that mean you have to die because I am older and more experienced? Depends on the situation. Gold has been around, not myspace around, myspace was around for a little while and got lower, whereas gold has been around thousands of years and not slowing down any moment soon neither. This is why there is a good difference the two of them. Sure just because gold has been around doesn't mean that gold will always be higher valued than bitcoin, that is not the case because it may change at any moment. However that also doesn't mean that gold will be like myspace and all forgotten neither.Friendster and MySpace was the thing before as social media outlet now it's Facebook and Twitter. What does it all mean? Something new will be discovered but it doesn't mean we should forget our traditional way of keeping assets. We can support them both but one of them will always have the upper hand. Each investor will have to make their own choice of what they prefer. No one is forcing. My wife prefers keeping gold accessories while I am into Bitcoin. We never had a problem about it. I believe that the best case here would be gold keep getting more and more popular, more and more expensive and the marketcap of gold will be huge BUT bitcoin and crypto will be even bigger because it will increase even bigger. In a world where in 50 years where gold made x10 profit but bitcoin went and did x100+ and passed gold would make the most sense. Title: Re: How Bitcoin differs from gold Post by: Barinekapaul on September 15, 2021, 07:11:52 PM Both bitcoin and Gold are valuable assets.
To me I will say, the only difference between both is the monetary value. Title: Re: How Bitcoin differs from gold Post by: perfect999 on September 15, 2021, 08:15:21 PM Both bitcoin and Gold are valuable assets. The biggest difference is the currency part for sure. Not many people are using it for that reason but the reality is that we are talking about something that is rare in both investment and spending. Look at what people invest into these days, its gold, stocks, oil, real estate, forex and so more, what does bitcoin have that is different in those? Well, I do not do a job and given real estate for it (or at least not common) and I do not do a job and given stocks (usually) or oil neither. However if you do a job and get bitcoin in return that uses the currency part of it and I believe that is a very important factor on why it is differs from all other investments.To me I will say, the only difference between both is the monetary value. Title: Re: How Bitcoin differs from gold Post by: Ridi on September 16, 2021, 07:06:01 AM Bitcoin is a virtual currency that exists only digitally and can be purchased only online whereas gold is a physical assests that you can touch and hold. The difference between is currency part . Bitcoin is more volatile as compared with gold. Bitcoin is referred to as a gold. Both have their own importance on their own.
Title: Re: How Bitcoin differs from gold Post by: Zanab247 on September 16, 2021, 08:31:52 AM Delete after 24 hours
Title: Re: How Bitcoin differs from gold Post by: Zanab247 on September 16, 2021, 08:33:37 AM Bitcoin is a decentralized currency anyone can use to invest and make a good profit . Inflation and deflation of bitcoin is not control by the government like the way government control gold in the country. Bitcoin is an online business where you can buy bitcoins and hold for the market to increase before you can release them for sale. Gold investment use to take many years before investors can achieve something good from their business.
Gold is very slow in profit making compared to bitcoin that you can invest today and make a good profit tomorrow. During the pandemic gold and other fiat money lose value for the lockdown that took place one year and some month. Bitcoin price keep increasing at the process of pandemic where gold and other fiat money keep decreasing that is causing some investors to change their mind to starting investing with bitcoins. Title: Re: How Bitcoin differs from gold Post by: iv4n on September 16, 2021, 09:35:30 AM Gold is just a precious metal, more or less valuable than some other precious metals! Of course, people use gold (and other precious metals) in industry, and for making jewelry. Nice arguments for the price rise over time, even in the far future there will be a need for gold, for this or that!
But Bitcoin is like the ideology, of a decentralized economy... Decentralization is not a new term, but with Bitcoin and all those decentralized crypto projects, decentralization is possible! Unlike gold, crypto is available for everyone! Everyone can join and be part of creating a new and better world! It's how I see a difference between gold and crypto in general, the difference is in what they represent! Title: Re: How Bitcoin differs from gold Post by: Kittygalore on September 16, 2021, 09:36:55 AM Bitcoin is different by it's physical existence, it's intangible or incorporeal since it's an electronic product while gold is sort of tangible since they're on rocks that is mined and those rocks are tangible so that also extends to the gold that's sticking at that rock. Another difference is the movement, bitcoin is much more volatile than gold but that volatility meant that bitcoin is much more profitable than gold.
Title: Re: How Bitcoin differs from gold Post by: globalpain on September 16, 2021, 10:26:08 AM Bitcoin is a virtual currency that exists only digitally and can be purchased only online whereas gold is a physical assests that you can touch and hold. The difference between is currency part . Bitcoin is more volatile as compared with gold. Bitcoin is referred to as a gold. Both have their own importance on their own. I think what you say is correct and that's the difference between Bitcoin and gold,after all both are promising assets and there is no doubt, indeed in cryptocurrencies, especially Bitcoin the risk is big but when we can manage it well it will be profitable Title: Re: How Bitcoin differs from gold Post by: jaberwock on September 16, 2021, 07:18:27 PM Bitcoin is a virtual currency that exists only digitally and can be purchased only online whereas gold is a physical assests that you can touch and hold. The difference between is currency part . Bitcoin is more volatile as compared with gold. Bitcoin is referred to as a gold. Both have their own importance on their own. That is both relevant to each other as well. Bitcoin is virtual but in today's world too many things are virtual, you can hold gold if you want to in your hands but you could also buy gold from your bank account, it would show you owning 10 ounces of gold without ever touching any gold at all, it is just paper, same with fiat as well, you have money digitally, it is in your bank and you can use your credit card instead of actual money and hold the cash in your hands.Overall, I would say that it is obvious people are using stuff virtually. BUT the fact that crypto is purely digital means it could be used to transact money, buy stuff, sell stuff, work, pay and so forth and that is the biggest difference. Title: Re: How Bitcoin differs from gold Post by: Natalim on September 16, 2021, 11:37:16 PM Bitcoin is a virtual currency that exists only digitally and can be purchased only online whereas gold is a physical assests that you can touch and hold. The difference between is currency part . Bitcoin is more volatile as compared with gold. Bitcoin is referred to as a gold. Both have their own importance on their own. That is both relevant to each other as well. Bitcoin is virtual but in today's world too many things are virtual, you can hold gold if you want to in your hands but you could also buy gold from your bank account, it would show you owning 10 ounces of gold without ever touching any gold at all, it is just paper, same with fiat as well, you have money digitally, it is in your bank and you can use your credit card instead of actual money and hold the cash in your hands.Overall, I would say that it is obvious people are using stuff virtually. BUT the fact that crypto is purely digital means it could be used to transact money, buy stuff, sell stuff, work, pay and so forth and that is the biggest difference. Bitcoin is not just an investment because its end goal is to become a good currency. Although its not yet totally adopted these days but we can expect that if the world goes more digital, then using bitcoin as a digital currency will eventually be realized as most of the transactions nowadays are becoming virtual. And while gold is centralized, bitcoin is very much decentralized so it cannot be controlled by any entity. Bitcoin has becoming a gold investment in the years to come as its adoption is increasing, then its value will also become bigger too. Title: Re: How Bitcoin differs from gold Post by: imstillthebest on September 17, 2021, 05:56:02 AM Bitcoin is a virtual currency that exists only digitally and can be purchased only online whereas gold is a physical assests that you can touch and hold. The difference between is currency part . Bitcoin is more volatile as compared with gold. Bitcoin is referred to as a gold. Both have their own importance on their own. with the introduction of bitcoin atm's , its now possible to buy bitcoin offline . your right tho , we can differentiate them easily because one is more of a currecncy and that was bitcoin while the other is more of an investment . bitcoin is bitcoin and gold is gold but what you mean is bitcoin is sometimes being called as a digital version of gold which can be true because btc can also do what a gold can do . Title: Re: How Bitcoin differs from gold Post by: Sir Legend on September 17, 2021, 09:21:49 AM Bitcoin is a virtual currency that exists only digitally and can be purchased only online whereas gold is a physical assests that you can touch and hold. The difference between is currency part . Bitcoin is more volatile as compared with gold. Bitcoin is referred to as a gold. Both have their own importance on their own. Both are popular types of investment, gold and bitcoin are 2 different types of investment and both are worth choosing, dividing the money between the two of course is an ideal choice, because the price of bitcoin is very volatile so I will make bitcoin an investment that is bigger than gold because greater profit opportunities. Title: Re: How Bitcoin differs from gold Post by: LUCKMCFLY on September 17, 2021, 05:53:40 PM ~snip~ Currently the main difference between BTC and Gold is that Gold is mainly the most used and accepted asset worldwide to be able to have the power to get any nation out of crisis, or any world crisis, who has that power is gold, While BTC is not yet accepted worldwide, there are many who oppose the cryptocurrency, however now many call it digital gold, the growth it has had is remarkable, in fact not only El Salvador has adopted it, many countries are considering adopting it, we may have some nice news about its adoption this year. I think that the biggest difference of all is due to its history, and another difference is that the acceptance by Banks and Governments is towards Gold, but it is an issue that has to do with volatility. Title: Re: How Bitcoin differs from gold Post by: jaysabi on September 17, 2021, 07:21:02 PM With the little summary from my perspective what I see as difference between gold and Bitcoin. Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price. Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government. Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. Gold is centralized while Bitcoin is decentralized. Gold has been in existence before ages while Bitcoin got into existence 2009 Relevant opinions are welcome, There's a lot wrong with just this opening bit. First, gold is not regulated by the government. You can buy and sell gold without permission from the government, so I'm not sure what you're trying to say here. Mining generally is regulated by certain states, but that's all mining and has nothing to do with gold specifically. Second, gold is not centralized. There's is no central authority for gold. Again, not sure what you're trying to say. Also, gold being "stable" is also a bit of stretch. In the short term, gold is much more volatile than the USD. The shorter the time horizon, the greater the difference between gold and the dollar. The longer you zoom out the more accurate gold's stability might get, but gold is a pretty volatile in the short term. There's not particular "skill" needed for bitcoin mining, it's incredibly simple. You buy hardware, you point it at the blockchain, you churn computations. What bitcoin mining requires is a lot of capital investment to mine effectively, but that's not "skill." Title: Re: How Bitcoin differs from gold Post by: Desmong on September 17, 2021, 07:57:47 PM Very soon gold will be less valued than Bitcoin cause the price of Bitcoin had already surpass gold which is a natural resources, being mined from the Earth crust. Bitcoin is a digital asset and it's value always depend on many factors moving it price to be versatile. Although Gold is also versatile, maybe some persons can choose Gold because it physical treasure.
Title: Re: How Bitcoin differs from gold Post by: Spack17 on September 17, 2021, 10:25:21 PM Gold is centralized but it can be seen like a volatile asset also I think. It is just not as highly volatile as Bitcoin of course. Gold has a big potential to reach many times the current price in the future in my opinion. It just increases much slower comparing to Bitcoin's movements in bull markets. Bitcoin price is just destroying the last record and improving it a lot in the bull market.
Title: Re: How Bitcoin differs from gold Post by: Kodok Bencot on September 18, 2021, 04:25:15 AM Gold is centralized but it can be seen like a volatile asset also I think. It is just not as highly volatile as Bitcoin of course. Gold has a big potential to reach many times the current price in the future in my opinion. It just increases much slower comparing to Bitcoin's movements in bull markets. Bitcoin price is just destroying the last record and improving it a lot in the bull market. I think gold is decentralized, the price of gold is also volatile even though it's not like bitcoin, in my country the price of 1 gram of 24 carat gold is around $67, up $2 compared to last year's price, gold and bitcoin are 2 types of investments that are worth choosing, both are good and have potential the same, gold although slow but very safe because all humans on planet earth receive gold. Title: Re: How Bitcoin differs from gold Post by: BuNga_cute on September 18, 2021, 05:32:17 AM Very soon gold will be less valued than Bitcoin cause the price of Bitcoin had already surpass gold which is a natural resources, being mined from the Earth crust. Bitcoin is a digital asset and it's value always depend on many factors moving it price to be versatile. Although Gold is also versatile, maybe some persons can choose Gold because it physical treasure. What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold. So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets. Title: Re: How Bitcoin differs from gold Post by: Samandra on September 18, 2021, 06:39:48 AM Gold is a physical asset, and bitcoin is a virtual currency.
Gold has a long history of development and has gained widespread consensus in the world. Bitcoin has been in development for more than a decade and is still in its infancy. Bitcoin is decentralized and can freely control personal assets. Its storage and transactions are on the Internet, so it is safer and more convenient than gold storage. Title: Re: How Bitcoin differs from gold Post by: michellee on September 18, 2021, 09:07:19 AM Very soon gold will be less valued than Bitcoin cause the price of Bitcoin had already surpass gold which is a natural resources, being mined from the Earth crust. Bitcoin is a digital asset and it's value always depend on many factors moving it price to be versatile. Although Gold is also versatile, maybe some persons can choose Gold because it physical treasure. If the material of gold is not much anymore, the price of gold can soar to the high price and people will use gold as a rare thing and keep it in a secret place. Bitcoin could be the same as gold as the number of bitcoin will be less but the value will be increase so high. The difference between bitcoin and gold is because of the forms and we know that bitcoin does not have physical forms while gold has physical forms. Title: Re: How Bitcoin differs from gold Post by: fullhdpixel on September 18, 2021, 01:45:35 PM What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold. Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets. This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins. Title: Re: How Bitcoin differs from gold Post by: AmoreJaz on September 18, 2021, 09:11:13 PM What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold. Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets. This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins. you have a point on this. for younger generations who didn't see the rough start of bitcoin, they will assume that bitcoin is already in a good place even before they learned it. they won't know all those negative criticisms, unless, they dig the history and read all past comments about it. anyway, years from now, we may see bigger adoption of bitcoin or crypto, and maybe in some areas like El Salvador, living everyday with bitcoin or crypto would just be a normal thing as they started now integrating btc in their financial ecosystem. but we can't deny the fact that gold is a tangible asset that you can't discard its significance in human history. let alone, its vital uses in many industries like electronics. Title: Re: How Bitcoin differs from gold Post by: cafucafucafu on September 18, 2021, 10:29:23 PM At the end of the day, they're both good store of values in the long run and you are likely to outperform fiat by holding either of them.
But I just think that bitcoin is the better transactional token overall. It has a more precise fixed supply compared to gold, the transaction costs are much lower (despite what people make it seem like), there are no storage costs, and the units are technically infinitely divisible. I think that as the new generation comes by, they'll realize increasingly that gold & other precious metals are very clunky and move toward cryptos. Title: Re: How Bitcoin differs from gold Post by: markdario112616 on September 18, 2021, 11:13:44 PM As far as I know, Gold is not centralized. Given the current state, Gold can be bought legally and illegally as well same as Bitcoin. Not all Gold is tagged nor is the distribution are controlled by the Government. It would be centralized if the source of Gold was the Government itself, I think that's quite impossible in this era.
For the question of how it differs from one to another; Well a lot, though one of the easiest is that Bitcoin is virtually available and Gold can be both. Bitcoin is somehow Illegal in some countries but Gold isn't. Both can be mined, Bitcoin virtually while Gold manual labor per see. THough there are still a lot. Title: Re: How Bitcoin differs from gold Post by: Hippocrypto on September 18, 2021, 11:40:37 PM Gold and bitcoin is totally different from each other in the first place because their ability was unique as people trusted them. Bitcoin as digital asset has an advantages with respect to faster transactions, and fast adoption for each investors who desires to hold cryptocurrency. On Gold's physical value, it was an amazing thing as it's used as jewelry which increased a sustainable value as years gone by. Also, nowadays there digital asset that used gold as their name that depends on how their price moves along marketplace.
Title: Re: How Bitcoin differs from gold Post by: btc78 on September 19, 2021, 03:38:14 AM With the little summary from my perspective what I see as difference between gold and Bitcoin. all that you mentioned had been already posted here in forum thousand time before , and you have not stated any difference from all of the conversation i come across this forum for years now.Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price. Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government. Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. Gold is centralized while Bitcoin is decentralized. Gold has been in existence before ages while Bitcoin got into existence 2009 Relevant opinions are welcome, but in all of that, it is mining that takes my intention and yes gold is hard to mine nowadays same as bitcoin , year after year the mining gets slower and slower and the whole 21 million bitcoin will be mines estimated for more than 20 years from now. Title: Re: How Bitcoin differs from gold Post by: MKings on September 19, 2021, 06:01:13 AM Gold can be used as an investment or as a commodity for purchase. Bitcoin is a project that everyone has chosen to invest in in recent years. Bitcoin is easy to carry, has a relatively high value, and has anonymity. Nowadays, many people choose to use Bitcoin as a payment method, which can protect our privacy. You can invest in either. If you are richer, you can invest in both at the same time.
Title: Re: How Bitcoin differs from gold Post by: 19Nov16 on September 19, 2021, 02:45:23 PM Of course there are many differences between gold and bitcoin, as we know that bitcoin is very popular nowadays but I'm not sure it will last for another 100 years. gold is the safest investment because people have known gold since thousands of years ago, gold can be received anytime, anywhere and anyone, even 2 countries that are at war when transacting then they will use gold.
Title: Re: How Bitcoin differs from gold Post by: fuguebtc on September 19, 2021, 05:19:03 PM Gold can be used as an investment or as a commodity for purchase. Bitcoin is a project that everyone has chosen to invest in in recent years. Bitcoin is easy to carry, has a relatively high value, and has anonymity. Nowadays, many people choose to use Bitcoin as a payment method, which can protect our privacy. You can invest in either. If you are richer, you can invest in both at the same time. Gold has been around for thousands of years and is legal all over the world. If used as a store of assets, gold is a better store of assets than bitcoin because gold is less volatile. Bitcoin has high value but very high volatility. People invest in bitcoin hoping to profit from its volatility. You are a safe person, you should buy gold and store it, you are a risk-taker, invest in bitcoin.Title: Re: How Bitcoin differs from gold Post by: pinggoki on September 19, 2021, 07:12:28 PM The one thing that bitcoin could do is that gold couldn't offer its users convenience. Safekeeping is a herculean task if you are to invest and buy gold for yourself because no matter what happens there will always be someone out there who could get their hands on your safe and steal your gold. On the other hand, bitcoin is so secure that even those who outrightly own their supply get locked out when they forget the passphrase, the safe key, or whatever security measure they placed in the first place.
Gold can be used as an investment or as a commodity for purchase. Bitcoin is a project that everyone has chosen to invest in in recent years. Bitcoin is easy to carry, has a relatively high value, and has anonymity. Nowadays, many people choose to use Bitcoin as a payment method, which can protect our privacy. You can invest in either. If you are richer, you can invest in both at the same time. Bitcoin could be used for investments and as a store-of-value, as well as a fully-fledged currency that people could use to facilitate transactions. Whatever gold could do, bitcoin could do it better. If not only for the volatile nature of bitcoin and other cryptocurrencies the transition between cryptocurrency and fiat will be much faster and would've happened ages ago. But reality is often disappointing, so here we are right now. Title: Re: How Bitcoin differs from gold Post by: Anguwa on September 19, 2021, 09:33:35 PM Well all I have to say about this comparison is that, Gold as we all know is a physical asset that has been in existence since the beginning of this world, and gold is one of the greatest assets of all time that reach people use to beautify there houses due to how expensive it is, while Bitcoin is a digital asset with high recommendation in the entire world today, bitcoin came into existence in the 20th century and has become very important asset that give us high control of our assets. Therefore Gold is an oldest asset that will be valued day by day and also Bitcoin is also valued. So both of them are great assets but Gold is a physical asset while Bitcoin is a Digital asset.
Title: Re: How Bitcoin differs from gold Post by: Wong Gendheng on September 20, 2021, 10:17:12 AM Of course bitcoin and gold are 2 very different types of investment, gold has been a tested investment thousands of years ago and I'm sure it will still be valuable for thousands of years, even though the stock of gold continues to grow but the demand for gold is always high so it never drops significantly, for bitcoin we still doubt whether it can last up to another 25 years or not, but the most important point is that we use both for big profits.
Title: Re: How Bitcoin differs from gold Post by: Ngemmeng on September 20, 2021, 04:21:02 PM Of course there are many differences between gold and bitcoin, as we know that bitcoin is very popular nowadays but I'm not sure it will last for another 100 years. gold is the safest investment because people have known gold since thousands of years ago, gold can be received anytime, anywhere and anyone, even 2 countries that are at war when transacting then they will use gold. and the most prominent difference is the level of price fluctuations, where the level of gold price fluctuations tends to be low and the level of bitcoin price fluctuations is very high. therefore the risk of investing in bitcoin can be said to be very high, but the high risk of investing in bitcoin is also accompanied by a large return.Title: Re: How Bitcoin differs from gold Post by: wxa7115 on September 21, 2021, 10:52:32 PM Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated. Steve Wozniak made a great point on this. He said that technology for detecting and extracting gold from the earth would improve over time. While technology improvements for mining bitcoin would remain steadily constant, no matter what breakthroughs in bitcoin mining occurred. This infers that the price and value of bitcoin, could retain greater stability over precious metals and gold. At least as far as the mining aspect goes. But this is not true for gold, the ocean is a place where gold mining has not occurred as it did on land, once we get that technology the rate at which gold will be mined will be many times greater than what we see now, creating inflation and a decrease in the value of gold. Title: Re: How Bitcoin differs from gold Post by: BuNga_cute on September 21, 2021, 11:54:12 PM What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold. Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets. This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins. Most people, especially the younger generation, are lazy to study history. So what you're saying does make sense, because the younger generation will definitely not know how the history of Bitcoin, they are just crazy about advanced technology. For the younger generation Bitcoin is a normal thing, so it is not unusual for the younger generation to invest in Bitcoin. We know most of the younger generation really like freedom, knowing Bitcoin cannot be controlled by the government, it will increase the enthusiasm of the younger generation. So in the future the Bitcoin adoption process will be faster, so collecting Bitcoins from now on is the right decision. Title: Re: How Bitcoin differs from gold Post by: DanWalker on October 02, 2021, 05:15:53 PM The difference between the two assets is very clear that gold is a real value that can be held and used practically. On the contrary bitcoin is a currency of technology and it only exists when there is an internet connection this is inconvenient about bitcoin i always think that if we are in a place where there is no network then gold is still the best choice. And there is another difference that because bitcoin is decentralized so it cannot be tracked by the government because there is no 3rd person to transact bitcoin, this is different from gold because gold is more modern but still has interference.
Title: Re: How Bitcoin differs from gold Post by: izsara on October 02, 2021, 06:08:31 PM What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold. Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets. This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins. this is not without reason, because indeed the problem felt by most teenagers today is the lack of literacy which is indeed very difficult to enforce in today's younger generation. maybe even for now they may know that crypto especially bitcoin is a good thing to adopt and own as an asset but I'm sure there are still many people who really don't know the history of bitcoin even in the beginning. because indeed for now what you want to see is the result of the goal to be achieved from bitcoin, not the initial process until bitcoin is now. Title: Re: How Bitcoin differs from gold Post by: albon on October 02, 2021, 06:24:48 PM Bitcoin is the digital gold that beat all investments and broke all benchmarks. Both gold and Bitcoin have advantages and disadvantages. For example, the huge price fluctuations that occur for Bitcoin will not be found in gold. Also, the huge profitability increases that occur with Bitcoin, you will not find in gold. Governments primarily use gold to hold fiat currency value, whereas investors use Bitcoin as a store of value.
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