The two most important properties of Bitcoin

[Apocollapse]

I wonder who hodls gold like that nowadays.. Bitcoin is just better on all fronts, and it can be used for much more than gold, that's what makes it better for a common retailer interested in making a difference for himself.

Many people actually buy gold even though it reach ATH.

Not only baby boomers, young generation like Gen Z also buy gold because they choose to diversify their money. Muslims also buy it because many of them think Bitcoin is haram, hence they only choose tangible asset.

Young people tend to like and be willing to take risks and want to get rich quick, so it is no surprise that they tend to favor bitcoin and crypto over gold or stocks.

In reality they prefer trading Bitcoin, buy altcoins and gambling.

Bitcoin investors are still not a lot.

[Hamza2424]

3. Unlike fiat and all the shitcoins, it wasn't made to enrich its creator (Satoshi never profited from bitcoin).

That's a good way to picture this because even if he is one of the richest person due to the 1 million BTC he hold and still you see him as someone who never profited from Bitcoin his own creation although he have not profited yet because that is unrealized pnl but let's say bro if he sells that amount will you still consider BTC a neutral coin and will you still consider it a good property?

I guess this will change your ideology about BTC and you might freak out right?

Bitcoin is just a better version of gold.

Bitcoin is the best asset the world has seen and it is so underrated and still got trillions of market cap and it still have a lot of room to grow and cross many big world companies by market cap easily. It has got potential to target the market cap of Gold.

[fuguebtc]

Gold have been around for decades a d we now have Bitcoin, that act as alternative to gold in terms of investment, let say that Bitcoin is a dime of digital gold since Bitcoin have the components of both gold and digital currency as a feature when you take Bitcoin as a digital assets, gold long term trust have build the market capitalization we are seeing today, and as much as Bitcoin keep the current trend it will definitely surpassed Gold in market cap in near future.

Gold is a natural resources that is valuable as an asset that has been from the time of creation while Bitcoin is less than two decades old. If Bitcoin that is very new can be compared to gold that means that if Bitcoin continues with it's momentum it can surpass gold in the future. Bitcoin has some advantages over gold like in terms of security, gold is a physical asset that has the risk of carrying around because of theft while Bitcoin is a digital asset which carries no risk of theft, except through loss of wallet seed phrase. Plus Bitcoin is scarce because of it's limited supply while if gold is found in excess it's value can decrease.

Bitcoin being compared or likened to digital gold does not mean that Bitcoin will surpass gold because their value is determined by supply and demand. Bitcoin can only surpass gold when its demand is greater but how can its demand surpass gold when it cannot replace the important role of gold? In what roles can Bitcoin replace gold besides being an online investment? While the demand for gold is diverse and rich such as jewelry, practical applications or investment.

The risk of holding bitcoins is that in addition to losing your seed phrase, your bitcoins can also be hacked or stolen if you are not careful.

As for the gold supply, you forget that the gold supply has been increasing steadily every year and compared to hundreds of years ago, the gold supply has increased many times and continues to increase because mining has never stopped. But look, the demand and price of gold never decreases over time.

[betswift]

I wonder who hodls gold like that nowadays.. Bitcoin is just better on all fronts, and it can be used for much more than gold, that's what makes it better for a common retailer interested in making a difference for himself.

Many people actually buy gold even though it reach ATH.

Not only baby boomers, young generation like Gen Z also buy gold because they choose to diversify their money. Muslims also buy it because many of them think Bitcoin is haram, hence they only choose tangible asset.

I need to agree with the fact that people (especially older ones) still buy gold because it's what was tested with time and effort most of them all, but.. I still do think that if a person wants to diversify, he probably will be able to find something good in the crypto space too

[TheUltraElite]

I need to agree with the fact that people (especially older ones) still buy gold because it's what was tested with time and effort most of them all, but.. I still do think that if a person wants to diversify, he probably will be able to find something good in the crypto space too

The older people will get an asset that is safer and well known. Not a risky less known asset. Hence they will prefer gold over bitcoin. But the younger will try to explore more risks and hence they have a lower threshold for buying bitcoin.

There are older investors into bitcoin but this number is small, specially fixed to those who are tech savvy.

Searching for something good in the crypto space does not make any sense. Rather buy bitcoin and continue buying it whenever the prices drop.

[fikrett]

The older people will get an asset that is safer and well known. Not a risky less known asset. Hence they will prefer gold over bitcoin. But the younger will try to explore more risks and hence they have a lower threshold for buying bitcoin.

There are older investors into bitcoin but this number is small, specially fixed to those who are tech savvy.

Searching for something good in the crypto space does not make any sense. Rather buy bitcoin and continue buying it whenever the prices drop.

Besides BTC itself, I would still go for bigger caps rather than gold itself - because in crypto, potential would be still bigger and eventually, big caps (if hodled on spot too), would bring results, even though the best coin to accumulate and hodl and use to that extent is BTC.

[Abiky]

The older people will get an asset that is safer and well known. Not a risky less known asset. Hence they will prefer gold over bitcoin. But the younger will try to explore more risks and hence they have a lower threshold for buying bitcoin.

There are older investors into bitcoin but this number is small, specially fixed to those who are tech savvy.

Searching for something good in the crypto space does not make any sense. Rather buy bitcoin and continue buying it whenever the prices drop.

Future generations will be the ones that will truly embrace Bitcoin as the next "Digital Gold". Just wait until the "dinosaurs" become history (the "old class" Elite, the establishment, etc) and Gold will eventually lose its luster as a store of value. The world is quickly shifting into the digital realm. So intangible items would become more valuable than tangible ones. At least that's how I see it.

Bitcoin is finite/scarce, extremely-secure, censorship-resistant, decentralized, and portable. It has all of the aspects/properties of Gold (even better). I'm sure it will overcome Gold's market cap in the future. Just you wait and see. If we don't witness such an event, our kids or grandkids will. Hopefully, Bitcoin survives way beyond the last coin mined.

[headingnorth]

I should mention some other big advantages of bitcoin:
 

Self-custody
Of course gold and cash can also be self-custodied, but bitcoin takes it a step further.
You can always store cash and physical gold in your house if you want, but that is cumbersome
to do and impractical for larger amounts. That is why most people keep their life savings in the bank
and not under the mattress or in their closet, because the risk of theft or loss is very high.

Bitcoin takes self-custody to the next level, because a 12 or 24 word seed phrase is a lot easier to secure than
a huge physical pile of cash or gold. Can you imagine keeping a million dollars of cash or gold in your house?
Most people would not be able to sleep at night. You would feel very paranoid about losing it.

Decentralization
Decentralization, combined with self-custody means that no one can seize your bitcoin whenever they feel like it.
You are not at the mercy of a centralized authority such as a bank or potentially corrupt government that can seize
it from you or lose it. These qualities make bitcoin a true revolution over cash or gold.

Potential adoption as currency
Besides serving as a superior store value, bitcoin can also potentially serve as an alternative form of payment
(to cash or credit). If the merchant accepts it, why not pay in bitcoin directly to save yourself the time and money
spent on conversion fees?

Some businesses in the US and abroad already accept bitcoin as a form of payment, and adoption is growing.
If you are living in a country where inflation and currency devaluation is out of control bitcoin alternative to cash
to preserve your buying power as well as potential a convenient method of payment as adoption grows.

With the value of the dollar dropping like a rock due to the massive US debt and countries dumping dollars like crazy,  
I think it may be just a matter of time before the US turns into another Argentina or Lebanon with massive inflation
spiraling out of control along with empty store shelves and bread lines across the country.

That is the beginning of an economic collapse. I hope I am wrong but things do not look good.

And unlike bitcoin, gold could never serve as a viable or practical form of payment in the modern world.

[passwordnow]

We do agree that Bitcoin is the better version of gold. But gold investors won't agree with that and that's fine.

I'm sure it will overcome Gold's market cap in the future. Just you wait and see. If we don't witness such an event, our kids or grandkids will. Hopefully, Bitcoin survives way beyond the last coin mined.

Current gold's market cap is $23T and Bitcoin is at $2T. We'd sure see that someday that Bitcoin will overtake gold as the number one asset globally and based on its market cap. The price of Bitcoin by that time is gonna surprise the world of how high it is.

[As-Soon-As]

Bitcoin is just a better version of gold.

I am a Bitcoin investor, that's why I like Bitcoin more, because Bitcoin has some unique features that are not found in unique things. If you invest in Bitcoin and hold it for a long time, it is definitely possible to get big benefits, but if you hold unique things for a long time, there is a high possibility of loss. So this is why Bitcoin has definitely dedicated a special feature to Bitcoin, you can also compare it with Bitcoin in more unique things like transactions.
In terms of transactions, Bitcoin plays a huge role, in just a few seconds, large transactions are completed accurately by Bitcoin. But if you want to complete the transaction with your domestic currency, then you will definitely have to waste a lot of time and there is a lot of risk. So I see that Bitcoin has completely different features in terms of uniqueness, which is why people are most popular.

[henry_of_skalitz]

We do agree that Bitcoin is the better version of gold. But gold investors won't agree with that and that's fine.

I'm sure it will overcome Gold's market cap in the future. Just you wait and see. If we don't witness such an event, our kids or grandkids will. Hopefully, Bitcoin survives way beyond the last coin mined.

Current gold's market cap is $23T and Bitcoin is at $2T. We'd sure see that someday that Bitcoin will overtake gold as the number one asset globally and based on its market cap. The price of Bitcoin by that time is gonna surprise the world of how high it is.

Even if it will, it won't be for long, imo, because the cap is everchanging.

Plus, we don't need it anyways to have all of the pros of BTC, so it's okay, but it would be a good point for those thinking BTC is a shadow coin of sorts or a Ponzi, I don't know who else would look at the caps to see what's good and what's bad

[Abiky]

Even if it will, it won't be for long, imo, because the cap is everchanging.

Plus, we don't need it anyways to have all of the pros of BTC, so it's okay, but it would be a good point for those thinking BTC is a shadow coin of sorts or a Ponzi, I don't know who else would look at the caps to see what's good and what's bad

You mean Gold's market cap is ever-changing? Well, that's true. But Bitcoin usually experiences greater highs over a short period of time. Crossing Gold's market cap is plausible. Still, it's a wild guess. We can never predict how markets will react in the future.

At least, one thing is certain. And that is Bitcoin will retain its value because of its "finite" supply. In fact, Bitcoin's supply is more predictable than Gold's. Volatility will always be there. But long-term speaking, Bitcoin should be more valuable than before. It's no wonder why institutional investors are starting to like Bitcoin more. Just keep "hodling" BTC and forget about the rest.

[viljy]

1. Bitcoin is a neutral asset
2. Bitcoin is a store of value

In a nutshell, those are the two most important properties to describe bitcoin.
It's what distinguishes bitcoin from any other crypto and makes it totally unique
from anything else IMO. When someone asks me why I invest in bitcoin, that is what I tell them.

It makes it easy for most people to understand IMO, to boil it down to those two simple points.

What makes bitcoin a neutral store of value?

1. Bitcoin is truly decentralized, meaning no person or small group of persons
    can unilaterally control it.
2. Unlike fiat and all the countless millions of shitcoins out there, bitcoin cannot be printed out of thin air.
3. Unlike fiat and all the shitcoins, it wasn't made to enrich its creator (Satoshi never profited from bitcoin).
4. Unlike ethereum, bitcoin does not have an unlimited and endless supply.


Comparison to Gold

1. Gold can also be a good neutral asset and store of value. But unlike bitcoin,
    you can't send and receive gold very easily. Delivering gold through the mail is very risky.

2. To buy and sell gold, you have to travel to a gold exchange. Depending where you live,
    you may not have one nearby. You have to physically transport the gold, which is a security risk.

3. Storing gold in your house is no better than storing large amounts of cash.
    Banks do not normally accept gold as a deposit, so you just have to store it in your house.
    That is a major security concern. Bitcoin solves the self-custody security problems of gold and cash.

4. Buying and selling larger amounts of gold can be a challenge. You always worry if you are
    buying real or counterfeit gold, and verifying its authenticity isn't always easy.

5. Bitcoin is used for digital payments, and adoption as a payment method is growing.
    Gold is not convenient as a payment method, and hasn't been used as a medium of
    exchange for hundreds of years, at least not in the modern world.

6. Unlike bitcoin, gold is not easily verifiable. A government can tell you it has two thousand tons of gold.
    But that claim is impossible to verify without you being there in person to see it for yourself.
    Which the government will never let you do. And even if they did you won't know if the gold bars
    are actually solid gold or just gold-plated. This is a problem with gold all over the world including the US
    which has not provided proof of its reserves in decades, despite orders from the courts and Congress to do so.
    They just simply ignore it.

Bitcoin is just a better version of gold.

The advantages of bitcoin are indisputable and well-known. But why do you present gold as a toxic asset? Have you personally had the experience of owning, buying, and selling physical gold in coins? I doubt.

1. I have personally used mail delivery services and have never(!) had any problems.

2. You don't have to go to any stock exchange. Gold coins are sold in banks, and you can also buy and sell them from individuals, including on online platforms. And by the way, it's not written on your forehead that you have gold in your pocket. So what is the danger of carrying? Unless it's some kind of criminal area.

3. In order to store gold to endanger your safety, you must tell everyone about the gold. Money loves silence.

4. Nonsense. There are special templates for checking the specific density of the most common coins. And anyway, just don't deal with bullion, because no one has ever seen a tungsten counterfeit coin, unlike bullion. Although the ingots can also be tested for specific gravity, of course.

5. Nonsense again. For example, less than a hundred years ago, 5.5 tons of gold bullion were used as payment by Russia for military supplies from Britain (read the history of the cruiser Edinburgh).

6. This issue applies only to the United States. In other countries, there is actually gold in the vaults. And even in the United States, this is not a problem of gold per se, because the problem is the lack of political will to conduct an audit.

[hyudien]

Bitcoin is easy to store and carry around. You simply need to remember your 12-word wallet phrase and store large amounts of Bitcoin. Bitcoin has the advantage of profitability. It's decentralized, like a bank with only you in control. Gold, on the other hand, isn't easy to store in large amounts; criminals can easily steal your gold. But that doesn't mean gold is bad. It remains a leading investment asset today as a safe haven. Both assets have their own value, and investing in both is much better.

[JiiBs]

1. Bitcoin is a neutral asset
2. Bitcoin is a store of value

In a nutshell, those are the two most important properties to describe bitcoin.
It's what distinguishes bitcoin from any other crypto and makes it totally unique
from anything else IMO. When someone asks me why I invest in bitcoin, that is what I tell them.

You did itemize two elements to discuss but ended up explaining just one, perhaps the first was encompassing and then, you’re all the way out to compare Bitcoin with Gold. I thought you would talk a little on the second element there which is,

2. Store of value

Anyway, I don’t really see Bitcoin’s store of value to be a unique property, we have several commodities that could try to match that. Like the gold you just mentioned, of course some might prove to be more suitable than others but, that’s it.

What have sold Bitcoin over the years is,
1. It’s decentralization and
2. There are and can only be 21million Bitcoins in the world.

Those two are enough to have everything else pegged to it.

[collecttmaster]

Gold is scarce but it has no limited supply. Bitcoin has limited supply.
Gold is not easy to save. Bitcoin is easy to save if you read and understand about it.

Bitcoin is actually easier to initially use than gold. There is so much fake gold out there, you can often not be sure if what you got was the real thing. With Bitcoin it is very easy to know that you got the real Bitcoin. Where the disadvantage lies is on keeping it safe for a longer period of time.

Because BTC is digital - and people of this age tend to go for this rather than gold and assets that cannot be used on the get-go, so to speak.

To be perfectly honest, gold is mostly shit. People who like to flash gold jewelry are also usually shit people. A correlation perhaps? 

[Smack That Ace]

Bitcoin is easy to store and carry around. You simply need to remember your 12-word wallet phrase and store large amounts of Bitcoin. Bitcoin has the advantage of profitability. It's decentralized, like a bank with only you in control. Gold, on the other hand, isn't easy to store in large amounts; criminals can easily steal your gold. But that doesn't mean gold is bad. It remains a leading investment asset today as a safe haven. Both assets have their own value, and investing in both is much better.

We don't need to invest in both, we just need to invest in bitcoin if we don't have too much capital. Because diversification can reduce risk but at the same time it will also reduce the profit earned. But we don't need to badmouth gold either, that doesn't make bitcoin more attractive or make gold less attractive. Because as you said, gold is still the top investment asset and the most trusted safe haven that banks and big investors still turn to whenever the economy is in turmoil.

No matter what we say, it cannot change the fact that gold is still the best and most reliable asset in the world and is recognized by most people in the world.

Each type of asset has its own pros and cons, no one is perfect or superior to another, just choose the type of asset we like.

[kotajikikox]

I wonder who hodls gold like that nowadays.. Bitcoin is just better on all fronts, and it can be used for much more than gold, that's what makes it better for a common retailer interested in making a difference for himself.

You don’t just stop investing on other things even if you believe bitcoin is already the best of them all. You are just implementing a strategy wherein you invest in many different things and you are actually distributing wealth to maximize safety and profits as well.

[Jawhead999]

I wonder who hodls gold like that nowadays.. Bitcoin is just better on all fronts, and it can be used for much more than gold, that's what makes it better for a common retailer interested in making a difference for himself.

You don’t just stop investing on other things even if you believe bitcoin is already the best of them all. You are just implementing a strategy wherein you invest in many different things and you are actually distributing wealth to maximize safety and profits as well.

It's only maximizing security, not profit.

If people invest Bitcoin since two years ago, their capital would be multiply by 3-4x.

If people invest in gold since two years ago, their capital would be multiply around 1.8-1.9x.

But, I saw few good momentum  to trade Bitcoin <> gold and vice versa, of course this is really hard, instead of watching volatility of one asset, you're watching both assets.